09 JULY 2012finance.comcast.net
Noranda Aluminum credited with the Lowest Forward P/E Ratio
Edited by : AL CIRCLE
1 min read
Below are the three companies in the Aluminum industry with the lowest forward price to earnings (P/E) ratios. Forward P/E uses estimated earnings to compare relative value among companies in the same industry. Generally, the lower the forward P/E, the more undervalued a company is believed to be.Noranda Aluminum (NYSE:NOR) is lowest with a forward P/E ratio of 6.25. Noranda Aluminum Holding Corp is an integrated producer of aluminum products, as well as rolled aluminum coils. The Company produces aluminum products in the form of billets, rods and sows, used mainly for building construction, architectural and transportation applications. Noranda also produces foil and light gauge sheet products from its rolling mills. Noranda Aluminum (NYSE:NOR) has potential upside of 73.7% based on a current price of $7.77 and analysts' consensus price target of $13.50. Noranda Aluminum shares should first meet resistance at the 50-day moving average (MA) of $8.33 and find additional resistance at the 200-day MA of $9.29.
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