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At a CFA society function, Robert Chan comments to Li Chiao that the expected dividend growth rate for Xanedu Industries has decreased 0.5% from 6.0% to 5.5%. Chan claims that since Xanedu will maintain their historic dividend payout ratio (g) of 40% and required return on equity (r) of 12%. Xanedu's justified leading P/E ratio based on forecasted fundamentals will also decrease by 0.5%. Is Chan correct? A. Yes, Xanedu's justified leading P/E ratio will increase by approximately 0.5%. B. No, Xanedu's justified leading P/E ratio will increase by approximately 7.8%. C. No, Xanedu's justified leading P/E ratio will decrease by approximately 7.8%. |