At the end of the morning session on Wednesday, the share price of Home Product Center Public Company Limited (SET: HMPRO) jumped by 9.09% or THB 0.70 to THB 8.40, with a trading value of THB 633.68 million.
KGI Securities projected a positive sentiment following the recent announcement of a share buyback program from HMPRO. The company declared a share buyback worth 7 billion baht with a cap of 800 million shares (averaging 8.75 baht each).
Although HMPRO’s overall sales are expected to slow in 1Q25, reflecting the real estate industry’s situation in Thailand, the analyst anticipated the Bank of Thailand’s interest rate cuts and relaxation of LTV measures will help boost sentiment in the sector, improving in 2Q25 to 3Q25.
In addition, the analyst noted that HMPRO’s valuation appears attractive with a forward PE of approximately 14x (-3 SD). The company’s earnings are projected to increase 8% year-over-year.
