Educational Programming Video
The Value Line Investment Survey
Program 22: Summary & Index
In this session we will continue our discussion of the Summary & Index section of The Value Line Investment Survey.
This is one of the three sections subscribers receive each week. The others are Part 2, Selection & Opinion, and Part 3, Ratings & Reports.
The primary purpose of the Summary & Index is provide to provide a way to locate the company and industry pages contained in the Ratings & Reports section. However, there is also a great deal of other information, as well.
We will start with the front cover, where there is a Table of Contents at the top and a list of all the industries covered, the Industry Timeliness ranks, and the Industry page numbers at the bottom. In the middle of the page are three boxes. The first box shows the Median Price/Earnings Ratio of all stocks with earnings in The Value Line Investment Survey. It also shows what the median P/E had been 26 weeks ago, and what it had been at both the most recent stock market low and the stock market high. The second box shows the Median Estimated Dividend Yield of all dividend-paying stocks under review. It also shows what the median had been 26 weeks ago, and what it had been at the most recent stock market low and the stock market high. You may be interested to know that about one third of the stocks in The Survey pay no dividends; if the non-payers were included in the total, the median would be about 0.8% lower than the number shown. In the third box is the Estimated Median Price Appreciation Potential of all of the approximately 1,700 stocks in The Survey. It also shows what the appreciation potential was 26 weeks ago and what it had been at the most recent stock market low and the stock market high.
The "index" portion of the Summary & Index actually begins on page two. Starting there, each company name is listed in alphabetical order. To the left of the name is the number of the page where the company report can be found. There may also be another number further to the left. If there is a number there, it refers to a Supplementary Report on the company. We publish Supplementary Reports when there is significant news on a company; such news typically involves earnings that were better or worse than expected or mergers or acquisitions.
To the right of the company name is a great deal more information; all of it updated every week. The first two items are the Ticker Symbol and Recent Stock Price, followed by the latest Timeliness, Safety, and Technical ranks. When there is a change in a Timeliness rank, the direction of the change is indicated by an up or down arrow.
Then we show the stock's 3- to 5-year Target Price Range and the Percent Appreciation Potential. Next comes the Current P/E Ratio, the % Yield for the Next 12 Months, Estimated 12 month Earnings for the period specified, the Estimated Dividends in the next 12 months, and the Timeliness rank of the industry in which the company is included. If you want definitions of any of the items I have mentioned, please refer to the glossary on the Web site or in the book "How to Invest in Common Stocks," which is sent to all new subscribers and is also available in the Education section of this Web site.
Then, there is a section containing Latest Results. It includes the latest quarterly earnings, as well as for the earnings in the same quarter a year ago, and the latest dividend payment, as well as the dividend a year earlier. And finally, there is an indication of whether there are options traded on the stock.
That's the end of this session. Thanks for joining us, and be sure to visit www.valueline.com throughout the day for our ongoing commentary on the stock market, the economy, and on stocks in the news.
Factual material is obtained from sources believed to be reliable, but the publisher is not responsible for any errors or omissions, or for the results of actions taken based on information contained herein. Nothing herein should be construed as an offer to buy or sell securities or to give individual investment advice. © 2014 Value Line Publishing, Inc. RIGHTS OF REPRODUCTION AND DISTRIBUTION ARE RESERVED TO THE PUBLISHER. The Publisher does not give investment advice or act as an investment adviser. Value Line, Inc., its subsidiaries, its parent corporation and its subsidiaries, and their officers, directors or employees as well as certain investment companies or investment advisory accounts for which Value Line, Inc. acts as investment advisor, may own stocks that are mentioned on this Value Line Web site.