SEHK:14Real Estate
Hysan Development (SEHK:14) Stock P/E Stretches Beyond A Fragile Profit Recovery
Hysan Development shares closed at HK$17.20 after a weak few months, with the stock down about 4% over 7 days and roughly 12% over 3 months. Yet the latest half-year numbers present a more mixed picture than a simple property gloom trade.
The focus this time is on earnings quality rather than revenue shock. Hysan posted HK$335 million in net income for the first half, with basic earnings per share of HK$0.07, which compares with a trailing P/E of 55x and a dividend that is not well covered by...