JCI. Yes, p/e looks high to me also. JCI though seems to me to be one of those companies that trades in its own p/e range year-after-year -- a range that's different and higher from its peers. I've been looking -- unsuccessfully -- to show that therefore the p/e will revert to a "normal" p/e that it's had in the past. Because JCI business is cyclical (earnings drop makes p/e higher), I can't justify it historically. It's a significant item for me though, because if earnings do fall, it'll be the corresponding stock fall that's ultimately important, not that the p/e reverts. And with JCI, I ask myself also, okay this company has a lot of followers on Wall Street, and a lot of good history (historical performance) behind it, but given that the p/e seems to me to stay relatively high (compared to auto supplier peer stocks, e.g. perhaps TRW) just how long can this company keep its p/e so much higher than these others?
Anyway, just small tracking position for me here. |
