A company has 28 shares outstanding. In the last fiscal year earnings were $374 and the company
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A company has 28 shares outstanding. In the last fiscal year earnings were $374 and the company has a payout policy where it pays out 46% of earnings out as dividends and uses 30% of earnings for share repurchases.
If investors expect the earnings to grow at 3% per year and the equity cost of capital is 12%, what is the company's expected share price?
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