I know that CL is a favorite core DG stock for many, but can someone please explain why it sports a P/E of around 27? That seems above and beyond "paying for quality," especially when PG, KO, JNJ, and the such already sport "premium" P/Es around 20 (give or take).
Does CL's potential international growth warrant that much higher a multiple, or am I missing something else?
Thanks!
Updated to Add:
I guess if you look at forward earnings, which are expected to be around $2.99 for 2014, you get a P/E of *only* about 22, but still, this is appreciably higher than the forward P/Es of its peers.
Does CL's potential international growth warrant that much higher a multiple, or am I missing something else?
Thanks!
Updated to Add:
I guess if you look at forward earnings, which are expected to be around $2.99 for 2014, you get a P/E of *only* about 22, but still, this is appreciably higher than the forward P/Es of its peers.