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
60
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.
This passage is probably a part of______.
选项
A、Find Hidden Value in the Market
B、Become Richer
C、Get Good Bargains
D、Identify Good Companies
答案
A
解析
主题型题。阅读完全文后,考生可以了解到文章主要讨论了一个成长型的企业,虽然其销售量、经营规模不断扩大,但是股价却保持稳定,甚至下跌的情况,并举了两个典型的例子:沃尔玛和可口可乐公司。实际上作者就是在教读者如何寻找市场中隐藏着的价值,所以正确答案是A选项。
转载请注明原文地址:https://kaotiyun.com/show/X4BO777K
0
考博英语
相关试题推荐
Smallbusinessesjointogether!SmallbusinessesarebeinginvitedtojoinSmallbookBusinessAlliance(SBA).TheAlliance,
•ReadthearticlebelowaboutadvertisingStrategy.•Aresentences16-22ontheoppositepage’Right’or’Wrong’?Iftherei
WhySeeingisSucceedingLeeChungoftheSeattleBusinessInstituteexplainsTherearesomeexecutiveswho
Readtheinformationaboutthecommunicationofinformationinbusiness.ChoosethecorrectwordtofilleachgapfromA,BorC
Readthetextbelowaboutaretailgroup.Foreachquestion23-28,choosethecorrectanswer.Markoneletter(A,BorC)onyour
ThisWorkingLifeByMaureenDowdIntheworldofbusiness,itisnotalwayseasyforwomentodothe(29)thingsasmen.
ReadthereportbelowaboutatalkonCustomerRelationshipMarketing(CRM).Aresentences16-22ontheoppositepage’Right’or
Noonecouldcomeupwithaneasysolutiontothegovernment’spredicament—labor______whichiscausedbythewars.
Theeffectofthebabyboomontheschoolshelpedtomakepossibleashiftinthinkingabouttheroleofpubliceducationinthe
Allthemusicalinstrumentsintheorchestrawillbe______beforeitstarts.
随机试题
申请复议的条件包括()。
患儿,见面色无华,神疲乏力,汗出,有浮肿,头晕耳鸣,长期咽痛,咽部暗红,手足心热,舌质稍红,舌苔少,脉细弱。应诊断为()
下列物质中参加胆固醇酯化成胆固醇酯过程的是
甲、乙、丙、丁共同投资设立了一个有限合伙企业,其中甲乙为普通合伙人,丙丁为有限合伙人。后因该合伙企业长期拖欠供货商货款,企业资产不足以清偿到期债务。依照我国相关法律的规定,下列哪些选项是正确的?()。
事故处理包括()
工程网络计划的计划工期的确定方法是()。[2003年真题]
某公司生产甲产品,一季度至四季度的预计销售量分别为1000件、800件、900件、850件,生产每件甲产品需要2千克A材料。公司的政策是每一季度末的产成品存货数量等于下一季度销售量的10%,每一季度末的材料存量等于下一季度生产需要量的20%。该公司二季度的
判断心理诊断是否具有科学性的依据是()。
金属历来都是通过采矿、冶金制取的,可是80年代初期,科学家发现在聚乙炔中加入强氧化剂或还原剂后,它的导电性能大大提高。因为这种塑料具有金属的一般特性,所以人们称它为“人造金属"。近年来,它的发展极为神速,人们又先后研制成功了聚苯乙炔、聚苯硫醚和聚双炔类等。
对软件开发的看法可有多种观点,敏捷软件开发方法是一种(118),代表性是极限编程XP,它的核心思想为(119)。
最新回复
(
0
)