- September 10, 2018
- Blog , The Portfolio Strategist - Terry Gardner
C.J. Lawrence Weekly – Stock Valuations and Earnings Growth Play Tug-of-War in Earnings-Driven Markets
rom the beginning of 2013 to the end of 2017 the S&P 500 Index price rose 87%. During that period S&P 500 earnings per share rose 25% while the Index’s price-to-earnings (P/E) multiple expanded by 62%. That mix is now reversing. The P/E multiple on the S&P 500, using next-twelve-months earnings...