But it is also up about 27% this year and trades at a hefty price-to-earnings ratio of 22 times.
Currently, the twelve-month price-to-earnings ratio stands at 11.2 times compared to a 20-year average of 12.1 times.
Penn National has an estimated 12-month price-to-earnings ratio of 24 and a 15% annualized long-term earnings growth forecast.
Taking the price-to-earnings ratio, Halliburton's share price is 20.5 times earnings, whereas rivals can command 26.5 times, Mr Gaut said.
Analysts expect K-Swiss' full-year earnings for 2003 to grow 51% from 2002, while the company trades at a price-to-earnings ratio of 23.
Despite its recent stock slump, Opnet's price-to-earnings ratio of 41, based on profit estimates for the coming 12 months, still looks rich.
With a current-year price-to-earnings ratio just above 10 and a projected five-year growth rate of 10.8%, Scotts sells at a discount to anticipated growth.
Valuation compared to its projected five-year growth rate is also modest: Limited's PEG ratio (price-to-earnings ratio divided by long-term growth rate of 15%) is 0.96.
But its price-to-earnings ratio is 73, and its price-to-sales is 18.
While Pixar may be a bit pricey--its price-to-earnings ratio is 33--it could reap bigger profits starting in 2005 if it is able to arrange a more lucrative distribution arrangement.
At its current price, Garmin goes for 19 times the Thomson IBES consensus on earnings for the coming 12 months whereas Ceradyne's has a next-12-month price-to-earnings ratio of 11.
For decades, the price-to-earnings ratio has been the most widely used valuation measure for stock investors, and a key tool in the arsenals of many of the gurus I follow.
With a price-to-earnings ratio of 23.10 and a growth rate (based on the average of the three-, four- and five-year historical EPS growth rates) of 24.14%, Hasbro has a price-to-earnings-growth ratio 0.96.
The company has almost no debt, a solid PEG ratio of 0.61 and a reasonable price-to-earnings ratio of 28.89, all of which convince the Lynch strategy that Satyam will make a very sound investment.
Still, Michael Kurtz, chief Asia strategist at Nomura Holdings, noted that Hong Kong's H-shares have reached the point where they are Asia's cheapest in terms of their forward price-to-earnings ratio, at 8.4 times, compared to a 10-year historical average of 12.6 times.
Finally, I set the valuation limits at a maximum price-to-book ratio of 4.0 and a maximum price-earnings ratio of 25.0.
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The cyclically-adjusted price-earnings ratio (which smooths profits over ten years) is still 21.4, well above the historical average, according to Robert Shiller of Yale University.
Each of these companies trades at a discount to the stock market's trailing 12-month price-earnings ratio of 15, yet is expected to increase its earnings per share over the next two years.
Yokosawa and Oberweis look for companies with accelerating earnings growth (at least 30% a year), a price-to-earnings ratio no more than twice the long-term growth rate, and a defensible competitive advantage in a growing market.
Valued at 17 times trailing earnings per share, DRS shares trade right in line with the aggregate price-to-earnings ratio among U.S. aerospace and defense stocks.
Thus, prices exceeded corporate earnings growth by a considerable margin and expanded stock valuation as measured by the price-to-earnings ratio (PE) from 14.5 PE to 16.2 PE.
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The five-year average price-earnings ratio for Lockheed is 11.14.
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Wendy's is the cheaper stock with a price-to-earnings ratio of 17.15 compared with 21.36 for McDonald's.
The average 2003 forecast price-to-earnings ratio of the eight stocks we selected is an affordable 16.
Based on estimates for the coming 12 months, the stock carries a price-to-earnings ratio of 16.
The figure is found by dividing the forward price-to-earnings ratio by the company's long-term earnings growth rate.
Special Offer: Ceradyne has doubled since November but still has a price-to-earnings ratio of less than 14.
Right now, the price-to-earnings ratio is a "little above" 20 times, Buffett said.
They are trading at a 27% discount to their historical average price-to-earnings ratio.
This places the price-to-earnings ratio in even loftier territory at around 100.
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