NewJeans, a girl group from HYBE's subsidiary Ador, performs at Tokyo Dome in Japan, June 28. Yonhap

Stock prices of entertainment companies are hitting a 52-week low, spurred by their poor performances in the first quarter and concerns about future prospects, according to the brokerage industry, Friday.

The country's three entertainment giants — HYBE, SM and YG Entertainment — all saw 52-week lows in the stock market, Friday. The stocks once fell to 178,700 won ($128.87), 69,600 won and 34,000 won respectively during the trading, before closing at 182,500 won, 73,300 won and 35,250 won.

The pessimistic outlooks by brokerages have exerted downward pressure on entertainment stocks.

"All entertainment stocks are expected to meet or fall short of the downwardly adjusted market forecasts for their second-quarter performance," Park Su-young, an analyst at Hanwha Investment & Securities, said.

According to market tracker FnGuide, the combined operating profit consensus for the second quarter for HYBE, SM, JYP and YG Entertainment amounted to 141 billion won, a 19.2 percent drop from the forecast a month earlier.

The securities market attributes the decline in entertainment stocks' performance to the absence of major artists and sluggish demand in China.

HYBE is particularly affected by the hiatus of BTS as the group members are fulfilling military service obligations. YG Entertainment is facing delays in artists' generational transition following the unsuccessful renewal of individual contracts with BLACKPINK members. SM Entertainment is also seeing a significant decrease in overseas album sales due to weak demand in China.

Meanwhile, JYP Entertainment's stocks ended the market at 59,000 won, an increase of 1.9 percent, following the news that it renewed the contract with its boy group Stray Kids.

"The valuation of this industry, which exports intangible assets, is difficult to compare with other sectors. If performance improves and positive narratives emerge, the valuation range, currently at 15-28 times earnings, could potentially rise again to 21-39 times earnings," Park said.