For an investor, a forward price to earnings ratio is a big consideration. The forward P/E ratio, as it is often called, shows a current price of a stock as compared to its predicted earnings per share. When the forward P/E ratio is less than the current P/E ratio that shows that a boost in earnings is likely to happen. The earnings in the formula are often looked at, as they are in this post.
Three stocks that appear to have low forward P/E earnings are SanDisk Corporation (NASDAQ:SNDK), Ally Financial Inc (NYSE:ALLY), and Qorvo Inc (NASDAQ:QRVO). SanDisk Corporation (NASDAQ:SNDK) has closed in market at a price of $57.95, with a one-year price target for it being $1.68. The market cap for this company is at $11.85 billion. Shares have closed last at $57.95. The P/E ratio, it is at 23.09. The stock is up +0.16%, with trades being quite low for its estimated future.
Ally Financial Inc (NYSE:ALLY) is the second stock, which is trading at -4.04%, which is well under it SMA 50. It is also under its 200-day moving average by -1.42%. The stock’s most recent close was at $21.71. Its one-year pricing target is at $27.78. It is trading at 9.30 times the forward earnings.
Qorvo Inc (NASDAQ:QRVO) has a 10.69 times forward earnings. It is down 34.08% from the highest point. The stock by consensus target is $80.56 per share. The last 52 weeks show the price between $50.80 and $88.35. It has a market cap of $8.71 billion (this company), with shares trading recently at $58.24. As for the P/E ratio, it is recorded at 27.87.
The earnings are looked at over the next 12 months or the full fiscal year that is to come; that is how the forecast is done. The sentiment of the stock is determined by the forward P/E ratio.