Chapter 2 – VALUATION AND CHARACTERISTIC OF BONDS AND STOCKS 1.0 Bonds A bond is a promissory note issued by a business or a governmental unit. Treasury bonds‚ sometimes referred to as government bonds‚ are issued by the Federal government and are not exposed to default risk. Corporate bonds are issued by corporations and are exposed to default risk. Different corporate bonds have different levels of default risk‚ depending on the issuing company ’s characteristics and on the terms of the specific
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Helen Keller Have you ever imagined living in a world without sound and never able to hear a bird singing? Can you ever envision living in a world of darkness and never seeing a beautiful rainbow? Millions of deaf blind people have experienced this. One such person who lived in a dark and soundless world‚ who had never heard a bird singing or had seen a beautiful rainbow found a way to bring light to many other people. My hero is Helen Keller because she was an indefatigable‚ intelligent‚ and devoted
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chance of error. Assumptions 1. Dividend growth rate is constant 2. Return on equity is constant and sustainable 3. Forecasted dividend is accurate 4. There is market stability 5. Historical data is reasonable predictor of future returns Valuation Esprit Holdings Ltd 0330.HK (Hong Kong) All data taken from Esprit’s 2007 Annual report Current share trading price = $92.15 Dividends per share = $3.18 Earnings per share = $4.22 Return on Equity = 48.9% Payout Ratio = 3.18/4.22 = .754
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Chapter 9 Stock V l ti St k Valuation McGraw-Hill/Irwin Copyright © 2013 by The McGraw-Hill Companies‚ Inc. All rights reserved. Key Concepts and Skills Understand h stock prices depend on future U d d how k i d d f dividends and dividend growth B able to compute stock prices using the Be bl k i i h dividend growth model U d Understand h growth opportunities affect d how h ii ff stock values U d Understand valuation comparables d l i bl Understand how stock markets work 9-1
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Chapter 9 Stock Valuation at Ragan Engines Input area: Shares owned by each sibling Ragan EPS Dividend to each sibling Ragan ROE Ragan required return $ $ 150‚000 5.08 320‚000 25% 20% EPS 1.09 $ 1.16 (0.32) 0.64 $ 1.97 DPS Stock price 0.16 $ 15.19 0.53 12.49 0.54 23.05 0.41 $ 16.91 ROE 11.00% 14.00% 14.00% 13.00% R 14.00% 19.00% 18.00% 17.00% Blue Ribband Motors Corp. Bon Voyage Marine‚ Inc. Nautilus Marine Engines Industry average Nautilus EPS w/o write-off $ $ $ Prospective
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Helen Keller’s Family Helen Adams Keller was born a healthy child in Tuscumbia‚ Alabama‚ on June 27‚ 1880. On her father’s side she was descended from Colonel Alexander Spottswood‚ a colonial governor of Virginia‚ and on her mother’s side‚ she was related to a number of prominent New England families. Helen’s father‚ Arthur Keller‚ was a captain in the Confederate army. The family lost most of its wealth during the Civil War and lived modestly. After the war‚ Captain Keller edited a local
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Analysis and Valuation of Insurance Companies Industry Study Number Two Center for Excellence in Accounting and Security Analysis Columbia Business School established the Center for Excellence in Accounting and Security Analysis (CEASA) in 2003 under the direction of Professors Trevor Harris and Stephen Penman. The center aims to be a leading voice for independent‚ practical solutions for financial reporting and security analysis‚ promoting financial reporting that reflects economic reality
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Code: Instructor: Submission Date: 1. Liu Yikun 2.Wang Siqi 3.Xu Mengxing 1.U1220769H 2.U1220694D 3.U1220644C Seminar group ___13___ 4.Xu Weinan 5.Zhang Han 4.U1220473G 5.U1220522L Team ___5___ Examination on Wilmar Limited’s valuation methods and valuation trend of two selected accounts. Accounting II – AB1102 Lau Chew King 11-03-2013 Keep a Copy of the Assignment Please make a copy of your work. If you have submitted your assignment electronically also make a backup copy. Plagiarism
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drugs to continue driving growth • Aging and growing population • Medicare Modernization Act of 2003 a boon to drug companies Bryan Heller and Peter Lavallee‚ student analysts Yale School of Management MGT 948 – Securities Analysis and Valuation Please see Important Disclaimer at the end of this report Table of Contents Investment Thesis………………………………………………….…………………….1 Company Overview…………………………………………………………….………..2 Important Revenue Producing Drugs…...……………………………………………..3 Drugs
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STOCK VALUATION at RAGAN‚ Inc Regan Thermal System Inc was founded 9 years ago by brother and sister Carrington and Genevieve Regan. The company manufactures and installs commercial heating‚ ventilation‚ and cooling (HVAC) units. Ragan has experienced rapid growth because of a propriety technology that increases the energy efficiency of its system. The company is equally owned by Carrington and Genevieve. The original agreement between the siblings gave each 50‚000 shares of stock. In the event
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