MOBI Industry Co.’s (TADAWUL:9517) P/E Is Still On The Mark Following 27% Share Price Bounce
MOBI Industry Co. (TADAWUL:9517) shareholders would be excited to see that the share price has had a great month, posting a 27% gain and recovering from prior weakness. Looking further back, the 14% rise over the last twelve months isn’t too bad notwithstanding the strength over the last 30 days.
After such a large jump in price, MOBI Industry’s price-to-earnings (or “P/E”) ratio of 23.2x might make it look like a sell right now compared to the market in Saudi Arabia, where around half of the companies have P/E ratios below 20x and even P/E’s below 14x are quite common. Although, it’s not wise to just take the P/E at face value as there may be an explanation why it’s as high as it is.
