of the approach: A disciplined approach to valuation: minimizes ad hockery – Built on theoretical and empirical findings from scientific research I ‘_ Marries fundamental analysis and financial statement analysis – Exploits accounting as a system for measuring value added – Exposes good (and “bad”) accounting from a valuation perspective L Financial Statement Analysis and Security Valuation • • • Integrates financial statement analysis with corporate finance Focuses on technologies
Words: 2057 - Pages: 9
Running head: THE VALUATION OF WAL-MART 1 THE VALUATION OF WAL-MART 2 In fiscal year 2010, Wal-Mart stock sold for a 52-week high of $55.01 and a 52-week low of $46.42. Stock in the company was regularly recommended as a “buy” or a “hold” by analysts, according to Bloomberg L. P. However, with dividend payment of only $1.09 per share on earnings of $3.72, a payout of only 29%, far lower than the industry payout rate at maturity of 45%. The result of this low dividend payout has
Words: 1689 - Pages: 7
stock recommendations with rigorous valuation models or growth-based heuristics. Consistent with prior research the average analyst recommendation is negatively associated with rigorous valuation models and positively associated with growth-based heuristics, we document that these associations are weakest for the most accurate analysts and strongest for the least accurate analysts. We also find evidence consistent with consistency between recommendations and valuation models underlying the positive future
Words: 11733 - Pages: 47
In financial markets, stock valuation is the method of calculating theoretical values of companies and their stocks. The main use of these methods is to predict future market prices, or more generally, potential market prices, and thus to profit from price movement – stocks that are judged undervalued (with respect to their theoretical value) are bought, while stocks that are judged overvalued are sold, in the expectation that undervalued stocks will, on the whole, rise in value, while overvalued
Words: 4315 - Pages: 18
Company Analysis A. Background [Describe the company’s background.] B. Business Segmentation [Analyse the different businesses of the company.] C. Geographical Segmentation [Analyse the different geographical markets of the company.] D. SWOT Analysis [Perform a SWOT (Strengths, Weaknesses, Opportunities, Threats) analysis on the company.] II. Industry Analysis and Peer Valuation A. Porter’s FIVE (5) Forces [Perform the Porter’s FIVE (5) Forces analysis on the industry
Words: 293 - Pages: 2
For coursework of CB3410, you are required to write one group project. Group Project Stock valuation using discounted cash flow analysis Guideline: Length of the report: 10-15 pages, double space, group no more than 5 people, due date 07/11/2013, weight 25% of final grade. Stock purchasing or investment is one of the most important investments of Hong Kong individuals. In the Asian and global financial crisis, a lot of Hong Kong people suffered huge losses
Words: 265 - Pages: 2
Amtelecom Group Inc. Valuation (Amtelecom Communication) Presented by: Table of Contents Executive Summary3 What does it mean when a company "trades at a discount"? Is AMT really trading at a discount? 4 Do you agree with AGI's decision to break up the company? To sell the communication business rather than the courier business? 4-5 Size up the communication s industry and identify key success factors. Size up strengths and weaknesses of AMT?5-7 Assess the value of AMT using all
Words: 1708 - Pages: 7
bullish on Google’s 2009 stock forecast; B) All use P/E ratio as part of their valuation method; and C) All EPS estimates, which exclude stock compensation, are in the range of $18.90 to $22.20. (Please refer to Exhibit 1 for more details). We will explore each report in more detail: Credit Suisse: Of the 4 reports, Credit Suisse achieves the most conservative price target at $400 per share based on a 5-year DCF analysis. Adverse macroeconomic factors are reflected in a comparatively high WACC of 13%
Words: 2006 - Pages: 9
COURSE WORK « Business Valuation on the basis of Damodaran model » Corporate Finance Student: Pavel Terefera Supervisor: Irina Sokolnikova Moscow 2015 Contents Introduction _____________________________________________ 3 Chapter 1. Valuation______________________________________ 4 1.1 Valuation in portfolio management_________________________ 7 1.2 Valuation in acquisition__________________________________ 10 1.3 Valuation in corporate finance_____________________________
Words: 8836 - Pages: 36
poor stock returns to follow in the coming years. We apply this valuation metric across more than thirty foreign markets and find it both practical and useful. Indeed, we witness even greater examples of bubbles and busts abroad than in the United States. We then create a trading system to build global stock portfolios based on valuation, and find significant outperformance by selecting markets based on relative and absolute valuation. Mebane T. Faber The Ivy Portfolio 2321 Rosecrans Avenue
Words: 1425 - Pages: 6
