UK & AU Stock Market Today: Live Updates 02.05.2026
LIVEMarkets rolling coverageStarted: May 2, 2026, 12:00 AM EDTUpdated: May 2, 2026, 11:59 PM EDT ANZ Banking Group Shares: Valuation Using PE Ratio and Dividend Discount Model May 2, 2026, 11:33 PM EDT. ANZ Banking Group (ASX: ANZ) shares trade around $36 amid analysis using two key valuation tools. The price-to-earnings (PE) ratio, which relates share price to annual earnings per share, stands at 16.6x for ANZ, below the banking sector average of 19x, suggesting potential undervaluation against peers. Using the sector average PE, ANZ's adjusted valuation is about $40.69 per share. Analysts also use the Dividend Discount Model (DDM),