Aldean Corporation has shares of stock trading at $51.09 today. The company has 3.00 million shares...
Aldean Corporation has shares of stock trading at $51.09 today. The company has 3.00 million shares outstanding. Earnings for the company last year were $7.00 million. Construct a P/E multiple for the company.
Homework Answers
P/E=(Price per share)/(Earnings per share)
Earnings per share=(7 million)/(3 million)=7/3
Price=$51.09
P/E=51.09/(7/3)=21.8957 or 21.90 (Rounded to two decimal places)
So, the PE multiple is 21.90
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