As of February 2008, you are researching Jonash International, a hypothetical company subject to cyclical demand for
Question:
As of February 2008, you are researching Jonash International, a hypothetical company subject to cyclical demand for its services. Jonash shares closed at $ 57.98 on 2 February 2007.
You believe the 2003 – 2006 period reasonably captures average profitability:
A. Define normalized EPS.
B. Calculate a normalized EPS for Jonash based on the method of historical average EPS and then calculate the P/E based on normalized EPS.
C. Calculate a normalized EPS for Jonash based on the method of average ROE and the P/E based on normalized EPS.
Transcribed Image Text:
2007 2003 Measure 2006 2005 2004 E$3.03 $1.45 $0.23 $2.13 $2.55 EPS share $16.21 per E$19.20 $14.52 $13.17 $11.84 BV E16.0% 1.6% 21.8% ROE 16.3% 8.9%
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A Normalized EPS is the level of earnings per share that the co...View the full answer
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