Wednesday, May 11, 2011

Share Price Alert: Opus International Consultants Ltd

Opus International Consultants Ltd [OIC.NZX] share price fortunes have mirrored the Christchurch Earthquakes since the first one hit back in September 2010 and especially the major one on February 22 2011.

The share price closed up 6c at $2.36 yesterday, an all time high for the stock but this is largely insignificant when you consider the stock only had its listing in October 2007. The stock only moved on the $1.65 IPO price because of the Christchurch quakes.

Its profit result for the full year ended December 31 2010 was strongly up on lower revenue on the 2009 year but that has largely failed to move the stock price.

Clearly this company is going to have years of ongoing work to do in Canterbury and this should have positive impacts on the bottomline but investors need to look at their next result out in August before deciding to put their money on the table.

The stock has pushed past its fundamentals, with a gross dividend of around 4.5% and a PE Ratio approaching 16 so the market looks to have overshot in respect of the Christchurch disaster factor.

Buy on weakness or wait post August announcement.

Opus International Consultants Ltd @ Share Investor

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