What Briscoe Group Limited’s (NZSE:BGP) 27% Share Price Gain Is Not Telling You
Despite an already strong run, Briscoe Group Limited (NZSE:BGP) shares have been powering on, with a gain of 27% in the last thirty days. The last 30 days bring the annual gain to a very sharp 46%.
After such a large jump in price, Briscoe Group may be sending bearish signals at the moment with its price-to-earnings (or “P/E”) ratio of 22x, since almost half of all companies in New Zealand have P/E ratios under 19x and even P/E’s lower than 11x are not unusual. 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.
With earnings that are…
