A ratio used to determine a stock's value while taking into account earnings growth. The calculation is as follows: Taobiz explains Price/Earnings To Growth - PEG Ratio PEG is a widely used indicator of a stock's potential value. It is favored by many over the price/earnings ratio because it also accounts for growth. Similar to the P/E ratio, a lower PEG means that the stock is more undervalued. Keep in mind that the numbers used are projected and, therefore, can be less accurate. Also, there are many variations using earnings from different time periods (i.e. one year vs five year). Be sure to know the exact definition your source is using.
A price-earnings ratio of a stock divided by the price-earnings ratio of a market measure, or index, such as the S&P 500 or Wilshire 5000. Taobiz explains Price-Earnings Relative This is a method for judging whether a price-earnings ratio is reasonable in relation to market conditions and historical P/Es.
A valuation ratio of a company's current share price compared to its per-share earnings. Calculated as: For example, if a company is currently trading at $43 a share and earnings over the last 12 months were $1.95 per share, the P/E ratio for the stock would be 22.05 ($43/$1.95). EPS is usually from the last four quarters (trailing P/E), but sometimes it can be taken from the estimates of earnings expected in the next four quarters (projected or forward P/E). A third variation uses the sum of the last two actual quarters and the estimates of the next two quarters. Also sometimes known as "price multiple" or "earnings multiple". Watch: PE Ratio Taobiz explains Price-Earnings Ratio - P/E Ratio In general, a high P/E suggests that investors are expecting higher earnings growth in the future compared to companies with a lower P/E. However, the P/E ratio doesn't tell us the whole story by itself. It's usually more useful to compare the P/E ratios of one company to other companies in the same industry, to the market in general or against the company's own historical P/E. It would not be useful for investors using the P/E ratio as a basis for their investment to compare the P/E of a technology company (high P/E) to a utility company (low P/E) as each industry has much different growth prospects. The P/E is sometimes referred to as the "multiple", because it shows how much investors are willing to pay per dollar of earnings. If a company were currently trading at a multiple (P/E) of 20, the interpretation is that an investor is willing to pay $20 for $1 of current earnings. It is important that investors note an important problem that arises with the P/E measure, and to avoid basing a decision on this measure alone. The denominator (earnings) is based on an accounting measure of earnings that is susceptible to forms of manipulation, making the quality of the P/E only as good as the quality of the underlying earnings number.
The main stock exchange where a publicly traded company's stock is bought and sold. Having a prestigious primary listing, such as the New York Stock Exchange, lends a company credibility and makes investors more likely to purchase its shares. In addition to its primary listing, a stock may also trade on other exchanges. A company might want to do this to increase its liquidity and ability to raise capital. Taobiz explains Primary Listing In order to be listed on more than one exchange, a practice called "dual listing" or "cross listing," the company must meet the requirements to be listed on the other exchange(s), such as company size and share liquidity. Cross listing would, for example, allow a multinational corporation to trade not just on the New York Stock Exchange (NYSE), but also on the London Stock Exchange (LSE). If the company does not continually meet an exchange's listing requirements, it will be delisted from that exchange.
A financial investment whose price is based directly on its market value. Examples of primary instruments include stocks, bonds, certificates of deposit, bills and anything else that has its own value. By contrast, the price of derivative instruments, such as options, swaps and futures, is based on the value of their underlying assets. Taobiz explains Primary Instrument While the markets have established hundreds of instruments to facilitate the flow of capital and the management of risk, primary investments like stocks are what most beginning investors think of when they think about investing. This is because investing in primary instruments requires only basic knowledge of markets and investment principles. A non-primary instrument would be something like a call option, which gives the owner the right to purchase the underlying stock at a certain price. So, if the price of the stock goes up, the call option's value also goes up. The call's value is based on the value of something else so it is not a primary instrument.
The most important stock exchange in a given country. Common characteristics of a primary exchange include a long history, primary listings of the country's top companies, listings of many important foreign corporations, large total market capitalization and a large trade value. A country may have other important stock exchanges in addition to its primary exchange. Taobiz explains Primary Exchange For example, the United Kingdom's primary exchange is the London Stock Exchange. It was founded in 1801 and has a daily volume of approximately $2 trillion. The NYSE is, of course, the primary exchange of the United States. Other primary exchanges include the following: Canada – Toronto Stock Exchange Japan – Tokyo Stock Exchange China – Shanghai Stock Exchange India – Bombay Stock Exchange
One of two methods for categorizing shares outstanding. The other method is fully diluted earnings per share (EPS). The term "basic EPS" is more commonly used instead of "primary EPS." Basic EPS is the simpler method to categorize outstanding shares, as it uses the number of shares currently available for trading. To calculate basic EPS, divide net income by the number of shares outstanding. Taobiz explains Primary Earnings Per Share (EPS) Diluted EPS is more complicated to compute, but it is considered more conservative because it takes into account all the outstanding convertible shares, warrants and options that could potentially be converted to shares that are able to be traded. If none of these financial instruments are outstanding, diluted EPS and primary EPS will be equal. EPS can be calculated in many different ways depending on the accounting methods and assumptions the company uses; investors taking EPS into account in any decision-making process should understand how the EPS figure they are using was calculated.
The original sale of a new security issue (bonds or stocks) from a company to investors/shareholders. Proceeds from a primary distribution are sent directly to the issuing company. All bond offerings are considered primary distributions. Also sometimes referred to as a "primary offering". Taobiz explains Primary Distribution A "secondary distribution" is the opposite of a primary distribution and refers to an occurrence where an existing shareholder sells a block of previously-issued stock and takes the proceeds from the sale. A company only receives funds for a primary distribution, or IPO; the stock continues to trade after the initial offering, but the funds are exchanged between buyers and sellers.
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