Obrascon Huarte Lain S.A.

Obrascon Huarte Lain is an international concession and construction groups based in Spain. Co. maintains significant operations in 30 countries across all five continents. Co. is engaged in hospital and railway construction, transport infrastructure concessions, oil and gas, energy, solids handling and fire protection systems and international contracts. Co.'s operations are organized along four divisions: OHL Concesiones, OHL Construccion, OHL Industrial y OHL Desarrollos. Co. is also engaged in real state project developments of mixed use managed by the international hotel chains.
  • TickerOHL
  • ISINES0142090317
  • ExchangeMadrid Stock Exchange
  • SectorConstruction & Materials
  • CountrySpain

Analysts

Rafael Fernández de Heredia

OBRASCON HUARTE LAIN - 1Q19 results. Awaiting delivery

OBRASCON HUARTE LAIN SA sees a downgrade to Negative on account of less fundamental stars

The independent financial analyst theScreener just lowered the general evaluation of OBRASCON HUARTE LAIN SA (ES), active in the Heavy Construction industry. As regards its fundamental valuation, the title now shows 0 out of 4 stars while market behaviour can be considered risky. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Negative. As of the analysis date April 12, 2019, the closing price was EUR 0.95 and its target price was estimated at EUR 0.58.

Maxime Kogge

OHL : Reversal of fortune?

The group posted better than expected Q4 results, with year-on-year sales growth and EBITDA back in positive territory, for the first time in a very long time. In our view, these improved numbers should be somewhat downplayed as they come on the heels of a very deep kitchen-sinking exercise in Q3. They also largely remain "on paper" as cash generation actually worsened vs. last year. Over the full year, the record remains dismal, a performance due to well flagged "legacy" project...

Maxime Kogge

OHL : Reversal of fortune?

The group posted better than expected Q4 results, with year-on-year sales growth and EBITDA back in positive territory, for the first time in a very long time. In our view, these improved numbers should be somewhat downplayed as they come on the heels of a very deep kitchen-sinking exercise in Q3. They also largely remain "on paper" as cash generation actually worsened vs. last year. Over the full year, the record remains dismal, a performance due to well flagged "legacy" project...

Rafael Fernández de Heredia

OBRASCON HUARTE LAIN - 2018 results better than expected

Obrascon Huarte Lain S.A.: Update following downgrade to Caa1 with a stable outlook

Key considerations driving OHL's Caa1 rating with a stable outlook

Moody's downgrades OHL to Caa1, stable outlook

Moody's Investors Service, ("Moody's") has today downgraded to Caa1 from B3 the corporate family rating (CFR) of Spanish construction company Obrascon Huarte Lain S.A. ("OHL" or "group") and to Caa1-PD from B3-PD the group's probability of default rating (PDR). Conc...

Obrascon Huarte Lain S.A.: OHL’s sale of its stake in “Ciudad Mayakoba” is credit positive

OHL’s sale of its stake in “Ciudad Mayakoba” for around €97 million is credit positive

Obrascon Huarte Lain S.A.: Poor first half results and signs of prolonged restructuring are credit negative

OHL's poor first half results are credit negative

Obrascon Huarte Lain S.A.: Expected completion of sale of OHL Concesiones is credit positive; rating review continues

OHL's completed sale of OHL Concesiones is credit positive

Rafael Fernández de Heredia

OBRASCON HUARTE LAIN - 1Q19 results. Awaiting delivery

Rafael Fernández de Heredia

OBRASCON HUARTE LAIN - 2018 results better than expected

Juan Moreno

OHL: A more gradual cash consumption than expected.

Better than expected 4Q18 results. A more gradual cash consumption than expected. We maintain our Sell recommendation.

Juan Moreno

OHL: We expect the cash burn to continue

The lack of visibility on the cash flow in 2019 and the early to give any value to the E&C business, lead us to reduce our recommendation to Sell (from Hold) and our target price to €0.72/share (from €0.95/share before). 

Rafael Fernández de Heredia

OBRASCON HUARTE LAIN - New and bulky cash outflow expected

OBRASCON HUARTE LAIN SA sees a downgrade to Negative on account of less fundamental stars

The independent financial analyst theScreener just lowered the general evaluation of OBRASCON HUARTE LAIN SA (ES), active in the Heavy Construction industry. As regards its fundamental valuation, the title now shows 0 out of 4 stars while market behaviour can be considered risky. theScreener believes that the title remains under pressure due to the loss of a star(s) and downgrades its general evaluation to Negative. As of the analysis date April 12, 2019, the closing price was EUR 0.95 and its target price was estimated at EUR 0.58.

Ford Equity International Rating and Forecast Report

Ford Equity International Research Reports cover 60 countries with over 30,000 stocks traded on international exchanges. A proprietary quantitative system compares each company to its peers on proven measures of business value, growth characteristics, and investor behavior. Ford's three recommendation ratings buy, hold and sell, represent each stock’s return potential relative to its own country market.. The rating reports which are generated each week, include the fundamental details behind each recommendation and reflect the fundamental and price data as of the last trading day of the week...

Maxime Kogge

OHL : Reversal of fortune?

The group posted better than expected Q4 results, with year-on-year sales growth and EBITDA back in positive territory, for the first time in a very long time. In our view, these improved numbers should be somewhat downplayed as they come on the heels of a very deep kitchen-sinking exercise in Q3. They also largely remain "on paper" as cash generation actually worsened vs. last year. Over the full year, the record remains dismal, a performance due to well flagged "legacy" project...

Maxime Kogge

OHL : Reversal of fortune?

The group posted better than expected Q4 results, with year-on-year sales growth and EBITDA back in positive territory, for the first time in a very long time. In our view, these improved numbers should be somewhat downplayed as they come on the heels of a very deep kitchen-sinking exercise in Q3. They also largely remain "on paper" as cash generation actually worsened vs. last year. Over the full year, the record remains dismal, a performance due to well flagged "legacy" project...

Maxime Kogge

OHL : Deeper and deeper

OHL's Q2 results were another disappointment. Despite de-risking efforts undertaken over the past three years, the group is still unable to stabilise its results and continues to burn cash at a rapid pace. Legacy projects keep delivering bad surprises as is the case with the Montréal hospital this quarter, a project that has just entered service. Meanwhile, results from the supposedly healthier refocused construction activity continue to be affected by delays and profitability re...

Maxime Kogge

OHL : Deeper and deeper

OHL's Q2 results were another disappointment. Despite de-risking efforts undertaken over the past three years, the group is still unable to stabilise its results and continues to burn cash at a rapid pace. Legacy projects keep delivering bad surprises as is the case with the Montréal hospital this quarter, a project that has just entered service. Meanwhile, results from the supposedly healthier refocused construction activity continue to be affected by delays and profitability re...

Maxime Kogge

Obrascon : Obrascon - Headroom still comfortable to cope with prolonged transition period

Most bondholders chose to keep their positions in the wake of the April put option offer. Since then, the group has disappointed investors with a weak set of Q1 results, marked by persisting losses and cash burn. The lack of an upturn prevented Moody's from upgrading the rating, which remains 'B3' despite plentiful liquidity. However, we remain encouraged in our 'Buy' stance by the latest initiatives which vouch for a prudent policy both in industrial terms (ongoing refocusing on...

MarketLine Department

SAcyr SA - Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments

Summary Marketline's SAcyr SA Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments report includes business description, detailed reports on mergers and acquisitions (M&A), divestments, capital raisings, venture capital investments, ownership and partnership transactions undertaken by SAcyr SA since January2007. Marketline's Company Mergers & Acquisitions (M&A), Partnerships & Alliances and Investments reports offer a comprehensive breakdown of the organic and inorganic growth activity undertaken by an organization to sustain its competitive advantage. Key Highlights This ...

Louis-Clément AZAIS d'UHART

Short term view - OBRASCON HUARTE LAIN SA : The major resistance has been breached.

The trend is still bullish, the invalidation level is below €3.600. The target is at €4.900.Arguments :- The major resistance has been breached.- The MACD is rising.- The moving average is supporting prices.

Louis-Clément AZAIS d'UHART

Analyse court terme - OBRASCON HUARTE LAIN SA : La résistance majeure est dépassée.

La tendance est toujours haussière, son niveau d'invalidation est sous 3,600 €. L'objectif est à 4,900 €.Arguments :- La résistance majeure est dépassée.- Le MACD a croisé en hausse.- La moyenne mobile sert de support.

Louis-Clément AZAIS d'UHART

Analyse court terme - OBRASCON HUARTE LAIN : La moyenne mobile sert de support.

Lors de notre dernière analyse court terme (27/12/2016), nous avions opté pour un avis positif. Nous restons positif avec un objectif à 4 € et un niveau d'invalidation à 3,2 €. La tendance haussière se poursuit. Arguments : - La moyenne mobile sert de support.

Louis-Clément AZAIS d'UHART

Short term view - OBRASCON HUARTE LAIN SA : The moving average is supporting prices.

In our previous short term analysis (27/12/2016), we were positive. We remain positive with a target at 4 € and an invalidation level at 3,2 €. The bullish trend unfolds. Arguments : - The moving average is supporting prices.

Louis-Clément AZAIS d'UHART

Analyse court terme - OBRASCON HUARTE LAIN : La tendance haussière se poursuit.

Lors de notre dernière analyse court terme (27/12/2016), nous avions opté pour un avis positif. Nous restons positif avec un objectif à 4 € et un niveau d'invalidation à 3,2 €. La tendance haussière se poursuit. Arguments : - Le gap haussier ouvert en sortie de figure annonce...

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