Korea District Heating Corp. (KRX:071320) Stock Catapults 30% Though Its Price And Business Still Lag The Market
Despite an already strong run, Korea District Heating Corp. (KRX:071320) shares have been powering on, with a gain of 30% in the last thirty days. Looking back a bit further, it’s encouraging to see the stock is up 35% in the last year.
Even after such a large jump in price, Korea District Heating’s price-to-earnings (or “P/E”) ratio of 3.6x might still make it look like a strong buy right now compared to the market in Korea, where around half of the companies have P/E ratios above 13x and even P/E’s above 26x are quite common. Nonetheless, we’d need to dig a little deeper to determine if there is a rational basis for the highly reduced P/E.
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