A P/E ratio is the Price/ Earnings ratio, which is a valuation multiple.
It is defined as
P/E Ratio = Price / EPS
We are given the following Price = $28.5
EPS = $1.3
Hence , P/E Ratio = Price / EPS
P/E = 28.5/ 1.3
P/E = 21.92
Hence the answer is 21.92
The price-earnings proportion, too known as P/E proportion, P/E, or PER, is the proportion of a company's share (stock) cost to the company's profit per share. The proportion is utilized for esteeming companies and to discover whether they are exaggerated or underestimated.
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