首页
外语
计算机
考研
公务员
职业资格
财经
工程
司法
医学
专升本
自考
实用职业技能
登录
外语
Sometimes, over a span of many years, a business will continue to grow, generating ever-increasing amounts of cash, repurchasing
Sometimes, over a span of many years, a business will continue to grow, generating ever-increasing amounts of cash, repurchasing
admin
2011-04-21
61
问题
Sometimes, over a span of many years, a business will continue to grow, generating ever-increasing amounts of cash, repurchasing stock, paying increased dividends, reducing debt, opening new stores, expanding production facilities, moving into new markets, etc. , while at the same time its stock price remains stagnant (or even falls).
When this happens, the average and professional investors alike tend to overlook the company because they become familiar with the trading range.
Take, for example, Wal-Mart. Over the past five years, the retailing behemoth has grown sales by over 80%, profits by over 100%, and yet the stock price has fallen as much as 30% during that timeframe. Clearly, the valuation picture has changed. An investor that read the annual report back in 2000 or 2001 might have passed on the security, deeming it too expensive based on a metric such as the price to earnings ratio. Today, however, the equation is completely different—despite the stock price, Wal-Mart is, in essence, trading at half its former price because each share is backed by a larger dividend, twice the earnings power, more stores, and a bigger infrastructure. Home Depot is in much the same boat, largely because some Wall Street analysts question how fast two of the world’s largest companies can continue to grow before their sheer size slows them down to the rate of the general economy.
Coca-Cola is another excellent example of this phenomenon. Ten years ago, in 1996, the stock traded between a range of $ 36. 10 and $ 54. 30 per share. At the time, it had reported earnings per share of $ 1. 40 and paid a cash dividend of $ 0. 50 per share. Corporate per share book value was $2. 48. Last year, the stock traded within a range of $40. 30 and $ 45. 30 per share; squarely in the middle of the same area it had been nearly a decade prior! Yet, despite the stagnant stock price, the 2006 estimates Value Line Investment Survey estimates for earnings per share stand around $ 2. 16 (a rise of 54%), the cash dividend has more than doubled to $1.20, book value is expected to have grown to $ 7. 40 per share (a gain of nearly 300%), and the total number of shares outstanding (未偿付的,未完成的) has actually decreased from 2. 481 billion to an estimated 2. 355 billion due to the company’s share repurchase program.
All the following are shared by Wal-Mart and Coco-Cola EXCEPT that______.
选项
A、the cash dividend has increased
B、the earning power has become stronger
C、both businesses have continued to grow
D、the stock price has greatly decreased
答案
D
解析
推理题。解题点在第三、四段。A、B、C三个选项都可以在文章第三、四段找到相应的支持信息。第四段提到“Yet,despite the stagnant stock price”,可见可口可乐的股价是保持不变,而不是大幅下跌,所以正确答案是D选项。
转载请注明原文地址:https://kaotiyun.com/show/U4BO777K
0
考博英语
相关试题推荐
•Readtheinter-officememobelow.•Completetheformonthefollowingpage.•Writeaword,phrase(inCAPITALLETTERS)ornu
Questions29-40•Readthearticlebelowabouttimemanagement.•ChoosethecorrectwordtofilleachgapfromA,BorC
Computersmayonedayturnnightintoday—withgoodold,naturalsunlight.Giantcomputer-controlledmirrors,thousandsoff
Theeffectofthebabyboomontheschoolshelpedtomakepossibleashiftinthinkingabouttheroleofpubliceducationinthe
______,themarketwillhavetoovercomesomeofthehighesthurdles.It’sseeninalongtime.
Therelationshipbetweencorpulenceanddiseaseremainscontroversial,althoughstatisticsclearly______reducedlifeexpectanc
Alltypesofstressstudy,whetherunderlaboratoryorreal-lifesituations,studymechanismsforincreasingthearousallevelo
Scienceisadominantthemeinourculture.Sinceittouchesalmosteveryfacetofourlife,educatedpeopleneedatleastsome
实行改革开放以来改变了过去封闭半封闭状态,提高了我国经济水平。
Directadvertingincludesallformsofsalesappeals,mailed,delivered,orexhibiteddirectlytotheprospectivebuyerofanad
随机试题
言论自由属于我国公民的
A.条件(1)充分,但条件(2)不充分B.条件(2)充分,但条件(1)不充分C.条件(1)和(2)单独都不充分,但条件(1)和条件(2)联合起来充分D.条件(1)充分,条件(2)也充分E.条件(1)和条件(2)单独都不充分,条件(1)和条件(2)联
急性胰腺炎手术指征是()。
中医“五轮学说”中,被称为“水轮”的是()。
场区高程控制网应布设成()、()或()。
采用边长25mm立方体试验样品试验时,在24h内出现自燃的物质属于()自燃物质。
建筑是凝固的诗:_________;_________。诗有古诗和现代诗,建筑也有古今之分,泾渭分明。在缓缓流逝的时间长河中,总有一些记忆像卵石般沉淀下来,_________,_________。爱,特别是母爱,对他来说,就是这样一份沉甸甸的卵石。①或神
下列关于代理服务器功能的描述中,(64)是正确的。
(1)Itiseasytoforgetthateventhemosttrivialcommercialtransactionsrelyonsmallactsoftrust.Lawsencouragegoodbeh
CanthePCIndustryResurrectItself?[A]InternetDataCenter’s(IDC)recentreportstatedthatPCshipmentsdeclined13.9%lastq
最新回复
(
0
)