UC知道一道投资题详细解答
来源：百度知道 编辑：UC知道 时间：2024/05/23 15:12:09
You expected the price of IBX stock to be $59.77 per share a year from now. Its current market price is $50, and you expect it to pay a dividend one year from now of $2.15 per share.
a)What is the stock’s expected dividend yield, rate of price appreciation, and holding-period return?
b)If the stock has a beta of 1.15, the risk-free rate is 6% per year, and the expected rate of return on the market portfolio is 14% per year, what is the required rate of return on IBX stock?
c)What is the intrinsic value of IBX stock, and how does it compare to the current market price?
d)If the dividend is expected to grow at 11.2% per year forever, the required rate return on IBX stock is 15.2%, what is its intrinsic value
a)What is the stock’s expected dividend yield, rate of price appreciation, and holding-period return?
b)If the stock has a beta of 1.15, the risk-free rate is 6% per year, and the expected rate of return on the market portfolio is 14% per year, what is the required rate of return on IBX stock?
c)What is the intrinsic value of IBX stock, and how does it compare to the current market price?
d)If the dividend is expected to grow at 11.2% per year forever, the required rate return on IBX stock is 15.2%, what is its intrinsic value
我先帮你翻译一下。
假设股票IBX一年后每股为59.77美元， 现在是50美元每股。
假如你的期望一年后能每股能有2.15美元的分红。
问1、这只股票预期的收益、收益率、投资回收期。
2、假如这只股票的贝塔系数为1.15，无风险报酬率为6%，市场证券组合的报酬率为为14%，则这只股票所要求的报酬率为多少？
3、这只股票的价值是多少，相比于现在的价格如何？
4、假如这只股票的以后的红利增长率都是11.2%，所要求的报酬率为15.2%，则这只股票的价值如何？
解：
1、收益=卖出价格-买入价格+分红=59.77-50+2.15=11.92
收益率=收益/成本*100%=11.92/50*100%=23.84%
投资回收期=50/2.15=23.26
2、CAPM模型 bE（Rp）=Rf+β（[（RM）-Rf] =6%+1.15（[（14%）-6%]=15.2%
3、零增长股息贴现模型 P=2.15/15.2%=14.14,高估
4、固定增长股息贴现模型 P=2.15/(15.2%-11.2%)=53.75 低估