TSE:1802Construction
Obayashi (TSE:1802) Stock Slides As One Off Gain Clouds Earnings Strength
Obayashi stock has been grinding lower for months, yet the latest results hand investors an awkward mirror. The share price sits at ¥3,030 after a three month slide of about 18%, while trailing earnings and margins look stronger on paper, helped by a very large one off gain of ¥56.2b.
The real story today is a sentiment clash. The market still trades Obayashi on a P/E of 10.7x, below peers. At the same time, trailing net income and earnings per share paint a richer picture than the mood...