Investors Still Aren’t Entirely Convinced By Macmahon Holdings Limited’s (ASX:MAH) Earnings Despite 37% Price Jump
Despite an already strong run, Macmahon Holdings Limited (ASX:MAH) shares have been powering on, with a gain of 37% in the last thirty days. The last 30 days bring the annual gain to a very sharp 30%.
Even after such a large jump in price, Macmahon Holdings’ price-to-earnings (or “P/E”) ratio of 11.7x might still make it look like a buy right now compared to the market in Australia, where around half of the companies have P/E ratios above 19x and even P/E’s above 38x are quite common. However, the P/E might be low for a reason and it requires further investigation to determine if it’s justified.
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