Ultra Petroleum (UPL) has earnings per share of $1.56 and a P/E ratio of 32.48. What’s the stock price? (Round your answer to 2 decimal places.)
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Ultra Petroleum (UPL) has earnings per share of $1.56 and a P/E ratio of 32.48.
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- Becker Financial recently declared a 2-for-1 stock split. Prior to the split, the stock sold for $80 per share. If the firm's total market value is unchanged by the split, what will the stock price be following the split?Harris International currently pays a dividend of $3.24 per share on its preferred stock that sells for $54 per share. In order to raise capital to purchase a smaller competitor, the company plans to issue 2.7 million shares of preferred stock at a 10% discount to its current price. Determine (a) the amount of funding that Harris will realize through the stock offering, and (b) the cost of equity financing.Bamboo Shack has the following capital structure: Assets: 450,000 Debt: 105,000 Preferred Stock: 25,000 Common Stock: 320,000 The common stock is currently selling for $20 a share, pays a cash dividend of $0.85 per share, and is growing annually at 9 percent. The preferred stock pays a $11 cash dividend and currently sells for $96 a share. The debt pays interest of 10.5 percent annually, and the firm is in the 40 percent marginal tax bracket. c. What is the cost of common stock? d. What is the firm’s weighted-average cost of capital?
- The charter of a corporation provides for the issuance of 100,000 shares of common stock. Assume that 60,000 shares were originally issued and 10,000 were subsequently reacquired. What is the amount of cash dividends to be paid if a $2 per share dividend is declared? Group of answer choices.... $60,000. $20,000. $120,000. $100,000.Apex is a media company that is considering expanding into streaming services. Apex has a levered beta of 0.80 and a debt to capital ratio (D/(D+E)) of 20%. The unlevered beta for streaming service companies is 1.10 and Apex plans to use its existing debt ratio in funding the business. Apex’s effective tax rate is 30% but the marginal tax rate is 40%. Apex is rated A, and the default spread for A rated firms is 2%. You can assume that the riskfree rate is 3% and the equity risk premium is 6% Estimate the cost of capital you would use in doing a project analysis of the streaming service investmentOmicron Technologies made a before-tax profit of $50 million this year. The firm has no debt and 10 million shares outstanding, with a current market price of $45 per share. Its unlevered cost of capital is 10%. Omicron's board is meeting to decide whether to pay out the entire $50 million as a dividend or to use it to repurchase shares of the firm's stock in the open market. If Omicron uses the entire $50 million to pay a dividend today, what is Omicron’s ex-dividend price of the shares in a perfect capital market with no taxes? Suppose that Omicron’s board decides to pay a dividend today. Now assume that Omicron pays corporate taxes of 30%. The marginal tax rate for shareholders is 35%. What is the after-tax dividend and effective tax rate for shareholders: Under a classical tax system? Under an imputation system (assuming that the dividend is 70% franked)? If Omicron instead chooses to use the entire $50 million to repurchase shares, what is the number of…
- The discount rate should be chosen when analyzing an investment project using Net Present Value criteria to be a. equal to the rate of return on the next best project. b. equal to the Federal Reserve’s current federal funds rate. c. equal to the market rate of new issue bonds. d. most likely to accepting the project.Allen Bagley bought 300 shares of stock at $98.45 per share, using an initial margin of 55%. Given a maintenance margin of 26%, how far does the stock have to drop before Allen faces a margin call? (Assume that there are no other securities in the margin account.)The stockholders’ equity section of Monty Corp.’s balance sheet consists of common stock ($8 par) $1,096,000 and retained earnings $420,000. A 10% stock dividend (13,700 shares) is declared when the market price per share is $15.(a) Show the before-and-after effects of the dividend on the components of stockholders’ equity.
- Nderson Company, a 90% owned subsidiary of Philbin Corporation, transfers inventory to Philbin at a 25% gross profit rate. The following data are available pertaining specifically to Philbin’s intra-entity purchases from Anderson. Anderson was acquired on January 1, 2020. 2020 2021 2022 Purchases by Philbin $ 8,000 $ 12,000 $ 15,000 Ending inventory on Philbin’s books 1,200 4,000 3,000 Assume the equity method is used. The following data are available pertaining to Anderson’s income and dividends. 2020 2021 2022 Anderson’s net income $ 70,000 $ 85,000 $ 94,000 Dividends paid by Anderson 10,000 10,000 15,000 Compute the equity in earnings of Anderson reported on Philbin’s books for 2020. Multiple Choice $63,000. $70,000. $62,700. $62,730. $63,270.Why might it be possible for a company to make large operating profits, yet still be unable to meet debt payments when due? What financial ratios might be employed to detect such a condition?Tesla share price is $439.18; Netflix share price is $480.68; and Amazon share price is 3148.24. Tesla has a P/E ratio of 870.15; Netflix has a P/E ratio of 77.66; and Amazon has a P/E ratio of 92.20. ______ is the most expensive stock and _____ is the least expensive stock to receive part of their earnings.
