Good Value, page-41

Hi @Wing it ... My two cents for what it's worth.

Most of the posters on here that suggest the stock is undervalued are low P/E as evidence. However I think many are overlooking what the P/E actually refelects.

A low P/E ratio does not always mean a stock is cheap, it is just as likely to reflect the markets veiw on future earnings growth (or lack thereof). As the P/E is a measure of the CURRENT price divided by the CURRENT earnings per share, i think PRT low ratio indicates the markets veiw on earnings decline. I don't think the stick is cheap as the earnings are going backwards and the dividend will also retreat eventually. While the current dividend yeild is appealing, the market is looking to the next dividend... Which unless the price falls will not have as an attractive yeild.

My two cents anyway..: