开发者:上海品职教育科技有限公司 隐私政策详情

应用版本:4.2.11(IOS)｜3.2.5(安卓)APP下载

返回

他三哥 · 2020年02月08日

问一道题：NO.PZ2018103102000044

  1. CFA II
  2. Equity

问题如下：

Jacques is the portfolio manager of AB pension and she recently consider adding PZ Inc. (New York Stock Exchange: PZ) to its portfolio. Instead of using the two-stage DDM, Jacques wants to use his estimate that 4 years later PZ’s stock will be worth 20 times its earnings per share (trailing P/E of 20). She expects that the earnings retention ratio and the dividend at that time will be 0.6 and 0.3461 respectively. What is the terminal value of the stock based on this approach?

选项：

A.

$32.8.

B.

$20.1.

C.

$17.3.

解释：

C is correct.

考点：Intro，P/E

解析：C是正确的。题干已知V4/E4=20、D4/E4=1-0.60=0.40、D4=0.3461。所以E4=0.3461/0.40 = 0.8652. V4 = 20(0.8652) = $17.3.

额，这个题是不是如果0.34后面加一个美元符号好做一点。

添加评论
1 个答案

maggie_品职助教 · 2020年02月10日

确实是，谢谢你的提醒，我们尽快修改后台。

  • 1

    回答

  • 0

    关注

  • 298

    浏览
相关问题

NO.PZ2018103102000044 问题如下 Jacques is the portfolio manager of pension anshe recently consir aing PZ In(New York StoExchange: PZ) to its portfolio. Insteof using the two-stage M, Jacques wants to use his estimate th4 years later PZ’s stowill worth 20 times its earnings per share (trailing P/E of 20). She expects ththe earnings retention ratio anthe vinthtime will 0.6 an$ 0.3461 respectively. Whis the terminvalue of the stobaseon this approach? $32.8. $20.1. $17.3. C is correct.考点Valuation Mols,Approaches for Calculating the TerminValue解析C是正确的。题干已知V4/E4=20、/E4=1-0.60=0.40、=0.3461。所以E4=0.3461/0.40 = 0.8652. V4 = 20(0.8652) = $17.3. 题干已知V4/E4=20、/E4=1-0.60=0.40、=0.3461。所以E4=0.3461/0.40 = 0.8652. V4 = 20(0.8652) = $17.3.V/E is P/EE - whis this?anthen whis vin0.4...I can't follow the logic in this question anwhere the formulcome from?

2023-09-19 03:47 1 · 回答

NO.PZ2018103102000044 问题如下 Jacques is the portfolio manager of pension anshe recently consir aing PZ In(New York StoExchange: PZ) to its portfolio. Insteof using the two-stage M, Jacques wants to use his estimate th4 years later PZ’s stowill worth 20 times its earnings per share (trailing P/E of 20). She expects ththe earnings retention ratio anthe vinthtime will 0.6 an$ 0.3461 respectively. Whis the terminvalue of the stobaseon this approach? $32.8. $20.1. $17.3. C is correct.考点Valuation Mols,Approaches for Calculating the TerminValue解析C是正确的。题干已知V4/E4=20、/E4=1-0.60=0.40、=0.3461。所以E4=0.3461/0.40 = 0.8652. V4 = 20(0.8652) = $17.3. 如题

2023-03-06 17:22 1 · 回答

NO.PZ2018103102000044 问题如下 Jacques is the portfolio manager of pension anshe recently consir aing PZ In(New York StoExchange: PZ) to its portfolio. Insteof using the two-stage M, Jacques wants to use his estimate th4 years later PZ’s stowill worth 20 times its earnings per share (trailing P/E of 20). She expects ththe earnings retention ratio anthe vinthtime will 0.6 an$ 0.3461 respectively. Whis the terminvalue of the stobaseon this approach? $32.8. $20.1. $17.3. C is correct.考点Valuation Mols,Approaches for Calculating the TerminValue解析C是正确的。题干已知V4/E4=20、/E4=1-0.60=0.40、=0.3461。所以E4=0.3461/0.40 = 0.8652. V4 = 20(0.8652) = $17.3. 20 times its earnings per share (trailing P/E of 20).

2022-05-26 21:49 1 · 回答

NO.PZ2018103102000044 $20.1. $17.3. C is correct. 考点Valuation Mols,Approaches for Calculating the TerminValue 解析C是正确的。题干已知V4/E4=20、/E4=1-0.60=0.40、=0.3461。所以E4=0.3461/0.40 = 0.8652. V4 = 20(0.8652) = $17.3. 有没有对应的讲义？课件。

2022-02-25 20:44 2 · 回答

NO.PZ2018103102000044 就说明是 v/E么 ？所以不能p/e*06=12 是这样理解的么

2021-12-10 09:49 1 · 回答