The market decline this year has been anything but short of amazing. So far in the month of October the market is down 24.72% and down 39.24% year to date through October 24th. It seems as though investors (or maybe forced hedge fund selling) are selling anything that is a stock. Undoubtedly, the economy is going through a significant deleveraging process. However, in this environment, it appears a number of stocks are trading at levels suggesting they are going out of business. Following is a list of some stocks that are trading at single digit P/Es. (click table for larger image)
Not all of the stocks on the list pay a dividend. Additionally, before purchasing any of the stocks, an investor should evaluate the sustainability of the projected earnings. It is possible that the "E" (earnings) in the P/E ratio is overly optimistic; hence, a downward earnings revision would mean a higher P/E for the company's stock.
Allegheny Technologies (ATI)
Anglo American (AAUK)
Best Buy (BBY)
Carpenter Technology (CRS)
Cnooc (CEO)
Jacobs Engineering Group (JEC)
Orient-Express Hotels (OEH)
Prudential Plc (PUK)
Rio Tinto (RTP)
Titanium Metals (TIE)
Transocean (RIG)
United States Steel (X)
Source:
Bargain Hunting ($)
Outlook Newsletter-Standard & Poor's
By: Beth Piskora, Managing Editor
October 29, 2008
http://www.outlook.standardandpoors.com/NASApp/NetAdvantage/servlet/login?url=/NASApp/NetAdvantage/index.do
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