There is a difference in the market when there is a demand for a stock. Your calculations do not take into consideration demand. Yes, I would agree the stock is way undervalued.... but realize there needs to be demand.
Let's see here... take Amazon for instance.
Current MC ~ $932 B
Stock Price $1858
Outstanding Shares ~ 502 M
And it is $7.02 EPS for Q1 2019.
From your calculations, Amazon is WAY overvalued. But would you sell your shares of Amazon because you believed it was going back to the $7.02 per share value.
The problem is you are not realizing that there needs to be demand. When the company does not fulfill its promises, nor does it instill faith in the shareholders, the perceived value of the stock declines. Just as the way Amazon has gone to over $1800 per share, and upwards of $2100-2200, it delivers (lol, literally) on its promises and instills faith in the shareholders. Hence the reason it is not $7.02 per share.