Central Securities Corp. is an AMEX listed security that has been trading in a range between $24.66 and $29.50 over the past year. With 20,538,200 shares outstanding, a recent price of $29.20 gives a total market capitalization of $600,947,737. While there are certainly larger companies, Central Securities Corp. has definitely earned its place in the pack. Last year, Central Securities Corp. created $4.48 in earnings for every share outstanding.
Central Securities Corp. is currently priced by the market at 6.50 times last year’s earnings. Many trading multiples around the world are quite attractive these days, but don’t be fooled. A Price to Earnings ratio of 0 simply means that the security didn’t make any money last year.
With a share price under $50 a share and earnings per share in excess of $1 a share, Central Securities Corp. is unlikely to be an interesting value proposition.
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