Positive Sentiment Still Eludes Hibino Corporation (TSE:2469) Following 34% Share Price Slump
Hibino Corporation (TSE:2469) shareholders that were waiting for something to happen have been dealt a blow with a 34% share price drop in the last month. Longer-term shareholders would now have taken a real hit with the stock declining 2.6% in the last year.
Although its price has dipped substantially, Hibino’s price-to-earnings (or “P/E”) ratio of 8.6x might still make it look like a buy right now compared to the market in Japan, where around half of the companies have P/E ratios above 13x and even P/E’s above 19x are quite common. Nonetheless, we’d need to dig a little deeper to determine if there is a rational basis for the reduced P/E.
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