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Shares of Allegheny Tech Rank the Highest in Terms of P/E Ratio in the Steel Industry (ATI, CMC, CRS, RS, SXC)

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 38.22. Following is Commercial Metal with a a P/E ratio of 25.96. Carpenter Tech ranks third highest with a a P/E ratio of 23.89.

Reliance Steel follows with a a P/E ratio of 19.37, and Suncoke Energy I rounds out the top five with a a P/E ratio of 18.44.

SmarTrend recommended that its subscribers protect gains by selling shares of Suncoke Energy I on September 25th, 2019 by issuing a Downtrend alert when the shares were trading at $6.23. Since that call, shares of Suncoke Energy I have fallen 10.9%. We are now looking for when a new Uptrend will commence and will alert SmarTrend subscribers in real time.

Keywords: highest p/e ratio allegheny tech commercial metal carpenter tech Reliance Steel suncoke energy i

Ticker(s): ATI CMC CRS RS SXC