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Company ABC is listed in the stock market with the beta of 0.8 and the average risk free rate of 3.13 percent and the return of equity is 28% in 2007. Table 1 presents selected information of ABC from 2003-2007.
Q1:What is the sustainable growth rate and required return for ABC? Using these values to calculate the 2008 share price of ABC stock according to the constant dividend growth model. Comment about the result you find.
Q2:Calculate the stock’s price in 2008 base on the residual income model. Note: use the sustainable growth rate and required return from the answer of question 1 as the value of g and k .
Q3. Use the information from the previous questions to calculate the clean surplus dividend.
Q4.Given your answer in the previous questions, which models are the most appropriate model to calculate the ABC’s stock price? Do you feel ABC is overvalued or undervalued at its current price of around $57?
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