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Relatively High P/E Ratio Detected in Shares of Allegheny Tech in the Steel Industry (ATI, SXC, CLF, CRS, CMC)

By James Quinn

Below are the three companies in the Steel industry with the highest price to earnings (P/E) ratios. P/E is an important valuation tool when comparing companies in the same industry. A higher P/E ratio means that investors are paying more for each unit of net income, so the stock is more expensive compared to one with a lower P/E ratio.

Allegheny Tech ranks highest with a a P/E ratio of 39.50. Following is Suncoke Energy I with a a P/E ratio of 25.99. Cleveland-Cliffs Inc ranks third highest with a a P/E ratio of 22.39.

Carpenter Tech follows with a a P/E ratio of 20.24, and Commercial Metal rounds out the top five with a a P/E ratio of 20.10.

SmarTrend recommended that subscribers consider buying shares of Commercial Metal on June 17th, 2019 as our technology indicated a new Uptrend was in progress when shares hit $15.15. Since that recommendation, shares of Commercial Metal have risen 16.3%. We continue to monitor Commercial Metal for any potential shift so investors can protect gains and will alert SmarTrend subscribers immediately.

Keywords: highest p/e ratio allegheny tech suncoke energy i :clf cleveland-cliffs inc carpenter tech commercial metal

Ticker(s): ATI SXC CRS CMC