Which statements are true regarding the price$/$earning $($P$/$E$)$ ratio?

Multiple select question.

Low P$/$E ratios usually indicate poor earnings expectations.

An above$-$average P$/$E ratio often indicates that investors anticipate relatively favorable future developments, such as increased earnings per share or higher dividends per share.

The P$/$E ratio should not be the sole, or even principal, consideration in an investment decision.

P$/$E ratios are calculated for both preferred stock and common stock.