Penta-Ocean Construction's share price has recently shifted from an upswing to a correction, while a bullish price target was issued in late October. Information on earnings and dividends was also released.
Penta-Ocean Construction's share price rose from ¥1,327.50 on 23 October to ¥1,401 on 29 October, then fell 3.3% to ¥1,354 on 30 October. The share price has continued to show a short-term recovery trend.
A major Japanese brokerage set a target of ¥1,700 on 27 October, and reports on 28 October indicated that its top-tier rating had been maintained, with a succession of positive factors reported during the week.
News of an MACD buy signal and a Parabolic SAR reversal emerged in succession on 27 October, followed by the stock's inclusion in a list of stocks undergoing reversals on 28 October, resulting in a cluster of short-term buy signals.
The results for Q1 of the fiscal year ending March 2027 were released on 7 August, showing revenue of ¥182.2 billion and operating profit of ¥11.1 billion, both higher year on year. The full-year forecast was left unchanged, and the company maintained its policy of forecasting an annual dividend of ¥52, an increase of ¥4 from the previous fiscal year.