Hello - I have a very basic question that I was hoping to get answered about the LTM P/E. The "E" in the ratio is obviously the earnings in the last twelve months, but what date does the price in the ratio reflect?
Does it reflect: A.) Today's price, or B.) Price on the last day of a company's fiscal quarter or year, or C.) Price on the day when the latest earnings were reported?
So, if I went to Morningstar and looked at any stock's LTM P/E, what date's price does the numerator reflect?
Thanks in advance!!
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