This morning we ran a quick and simple value screen on the S&P 500 which ended up yielding some surprising names. To start we looked for stocks whose trailing and estimated P/E ratios are less than 10 (there were about 45 names on that list). To further pair down we then looked for stocks where the estimated long-term growth is greater than 10. That list of 23 stocks is highlighted below. (Long-term growth typically refers to expected annual increase in operating earnings over the next three to five years.)
Chevron and Diamond Offshore stick out because they have the highest growth estimates. Micron has by far the lowest P/E ratios with Ford and Teradyne close behind.