g You own shares of a company that reported after-tax earnings of $29 million and has issued 2 million shares of stock. The comp
any's stock price is $5.09 per share. Calculate the company's price-earnings (PE) ratio.
1 answer:
Answer: 0.35
Explanation:
The Price to Earnings ratio is used to value companies and is calculated by dividing the company's stock price by its earnings per share.
Earnings per share = 29,000,000/2,000,000 shares
= $14.50
PE ratio = Share price / Earnings per share
= 5.09/14.50
= 0.35
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