Japan Electronic Materials Corporation’s (TSE:6855) Price Is Right But Growth Is Lacking After Shares Rocket 26%
Despite an already strong run, Japan Electronic Materials Corporation (TSE:6855) shares have been powering on, with a gain of 26% in the last thirty days. Looking further back, the 21% rise over the last twelve months isn’t too bad notwithstanding the strength over the last 30 days.
Although its price has surged higher, Japan Electronic Materials may still be sending bullish signals at the moment with its price-to-earnings (or “P/E”) ratio of 10x, since almost half of all companies in Japan have P/E ratios greater than 15x and even P/E’s higher than 23x are not unusual. Nonetheless, we’d need to dig a little deeper to determine if there is a rational basis for the reduced P/E.
