Unless you never watch TV, never listen to the news on the radio, and never look at magazine covers, you know who Charlie Sheen is. Star of the extremely popular TV show Two and a Half Men, earning around 1.8 million dollars an episode, he has been in the news daily during the last couple weeks due to the disagreement between him and the show’s producers regarding the cancellation of the show. Sheen’s outspoken comments have made headlines, and he has been the guest on several talk shows. So it is only fitting that we look at the companies that have a connection to Charlie Sheen to see how their stocks have performed.

Stockerblog.com was the original developer and creator of numerous celebrity stock indexes, including the Paris Hilton Stock Index, the Gisele Bunchen Stock Index, the Heidi Klum Stock Index, and the Angelina Jolie Stock Index. Now it is time for the Charlie Sheen Stock Index, details of which can be found at WallStreetNewsNetwork.com. Based on the companies that have some connection to Sheen, the Sheen Index has outperformed the Dow Jones Industrial Average, since the beginning of this year, the beginning of last year, the beginning of 2009, and the beginning of 2008. As a matter of fact, since the February 24 radio broadcast of the Charlie Sheen interview hosted by Alex Jones, the Charlie Sheen Stock Index rose 2.0% versus only 0.8% for the Dow.

Two and a Half Men, which I consider the funniest show on television, has ranked in the top 20 television shows since 2003, and last year garnered almost 15 million viewers. The show is broadcast on CBS (CBS) and is rerun on the CW Network which is 50% owned by CBS, along with Warner Bros., a division of Time Warner (TWX). CBS trades at 23 times current earnings and 12.5 times forward earnings, and pays a small dividend of 0.9%. If you are looking for high income, you could consider the CBS Corporation New Senior Note (CPV), which yields a generous 6.6%, payable quarterly. Earnings for the latest quarter were up an amazing 381.3% (could a lot of that be due to Two and a Half?) over the same quarter last year.

The show is filmed at Warner Bros. Studios and Warner Bros. Television is one of the production companies. Time Warner has a price to earnings ratio of 16.6 and forward PE of 12. It generates a decent yield of 2.5%. Earnings for the latest quarter were up 21.9%.

Charlie Sheen did an outstanding job of portraying Bud Fox in the classic stock market movie Wall Street, and along with Michael Douglas, made the movie a blockbuster hit which is still popular today. Sheen even appeared in the sequel Wall Street: Money Never Sleeps. Both movies were produced by 20th Century Fox, a subsidiary of News Corporation (NWS) (NWSA). News Corp. has a PE of 14.7, a forward PE of 13.5, and yields 0.9%.

In terms of celebrity endorsements, Sheen appeared in commercials and print ads for the Comfortsoft line of Hanes undershirts for Hanesbrands Inc. (HBI). Although the ads were dropped last year, Hanes may still benefit from them (an alternative to bowling shirts). Hanesbrands trades at 11.8 times current earnings, and has a forward PE of 8.6.

Sheen is now sending out tweets on Twitter,

By Stockerblog.com

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