McCormick and Schmick's Seafood Restaurant is a NASDAQ listed security that has been trading in a range between $17.03 and $29.10 over the past year. With 14,645,060 shares outstanding, a recent price of $25.25 gives a total market capitalization of $390,730,205. While there are certainly larger companies, McCormick and Schmick's Seafood Restaurant has definitely earned its place in the pack. Last year, McCormick and Schmick's Seafood Restaurant created $0.98 in earnings for every share outstanding.
McCormick and Schmick's Seafood Restaurant is currently priced by the market at 25.80 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 below $1 a share, McCormick and Schmick's Seafood Restaurant could be an interesting value proposition. Consistent earnings are the key to high valuations and this security is well on its way.
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