Low P/E Stocks Hitting New 52-Week Highs
These 4 stocks with low price-earnings ratios hit new 52-week highs this week. This is notable as most of the formerly hot tech stocks with much higher p/e’s were nowhere to be found on the “new highs” list. Even with slight bounces among the old leaders, the stock market in general remains in a funk.
Equities able to continue upward are few and far between right now, but they do exist. Here are 2 energy companies, one shipping company and an electronics component company making their way to higher highs. Whether they can continue upward with such strength is the question.
Crescent Point Energy.
Mentioned previously on this blog, but it’s worth mentioning again as the stock will not stop showing up on the “new highs” list. They’re based in Canada and involved in the production and exploration of oil and gas.
The added attraction is how well Crescent Point seems to fit the Benjamin Graham value stock criteria. It trades at a discount to book value of 15%. The price-earnings ratio is 1.60 with a forward p/e of 4.51. Earnings per share are up this year by 186% and the past 5-year EPS growth rate is a positive 33%. The amount of shareholder equity is greater than the amount of long-term debt. The company pays investors a dividend of 2.71%.
Eagle Bulk Shipping.
The transportation of dry bulk commodities is the business of Eagle Bulk Shipping, headquartered in Stamford, Connecticut with global operations in Singapore and Copenhagen.
Their price-earnings ratio is 5.37 and the stock trades at just 1.42 times book value. Long-term debt is less than shareholder equity. Eagle Bulk’s earnings this year increased by 446%. The past 5-year growth rate is 16.60%. Investors receive a dividend yield of 10.51%. Someone doesn’t like the stock: the short ratio is high at 9.69%. Should short covering emerge at some point, that high of a ratio might indicate decent fuel for a rally.
This is another Canadian-based oil and gas exploration company, relatively lightly traded on the Amex: average daily volume is 768,000 shares.
The price-earnings ratio is 2 and the forward p/e sits at 5.71. Obsidian trades at a price t0 book ratio of just 1.18. There is no long-term debt on the books. EPS this year is down by 52.9%. The past 5-year record shows earnings growth at 20.60%. No dividend is paid.
They make electronic components and trade on the NASDAQ
The price-earnings ratio is 10.40 and the price-to-book value is a low 1.53. Shareholder equity greatly outweighs their long-term debt. This year’s earnings per share are up by 101% and the past 5-year record is a positive 11%. Samina is lightly traded with an average daily volume of just 435,000 shares. The company does not pay a dividend.
Past performance is no guarantee of future results. Not investment advice. For educational purposes only.
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