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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Lisa Benton Case Analysis Benton is a Harvard educated MBA who chose to work at the Home care Division of Houseworld based upon the classical marketing training in a structured environment from an industry leader over Right-Away which she had interned at. Benton was informed she would become a product manager within 2 to 3 years‚ yet was not informed of the importance of her performance in the first year. She was informed that the product manager’s responsibility was to groom his or her associates
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HR Management The Slade Plating Department Roberto Strillacci – Group D How would you describe the culture of the Sarto group? • The Sarto group seems to have a healthy and friendly atmosphere among its members‚ shown by their attitudes with one another e.g. week-end together‚ shared lunch • Their ideal of efficiency goes beyond the quantitative and focuses on the qualitative‚ « stressing high standards » also for inventiveness. • Helping one another is a « prized trait »‚ and this
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What are the challenges of managing a matrix organization like GM’s basketweave? How has GM chosen to address these challenges? GM’s basketweave structure fits into a simultaneous organization structure perfectly. The purpose of implementing this matrix structure is to achieving both differentiation and integration within different regional segments and also within functional units. The new structure will help “to overhaul processes and reduce overlapping product lines‚ eliminating similar‚ often
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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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Brittany Baron Professor Brinker English 1190 30 November 2010 Problems in the U.S.A Today Out of all the things going on in our world today‚ I find that our human interest naturally draws us automatically toward the unusual or what’s not normally excepted‚ valued‚ or understood. It’s more of how we were taught when we were kids or how we were raised in specific environments that sets us apart from every one‚ everywhere else. The issues I have connected are: legalizing marijuana‚ medical
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the ideals‚ beliefs‚ symbols and etc. of political thinkers and groups explaining how a society should function. After looking at the definitions of both terms‚ it is easy to see that they intertwine and feed off one another. In this essay‚ the connection between these two topics will be explored. The two political ideologies‚ which will be used in the explanation‚ will be Liberalism and Conservations‚
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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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