单选题
An analyst gathered the following financial information about a firm:
Estimated EPS $10 per share
Dividend payout ratio 40%
Required rate of return 12%
Expected long-term growth rate of dividends 5%
What would the analyst"s estimate of the value of this company"s stock be?
【正确答案】
B
【答案解析】(P/E)
1
=(D
1
/E
1
)/(k-g)=0.4/(0.12-0.05)=5.7
P
1
=$10×5.7=$57