Plush Pilots, Inc., has balance sheet equity of $6.7 million. At the same time,
ID: 2641566 • Letter: P
Question
Plush Pilots, Inc., has balance sheet equity of $6.7 million. At the same time, the income statement shows net income of $817,400. The company paid dividends of $408,700 and has 100,000 shares of stock outstanding. If the benchmark PE ratio is 31, what is the target stock price in one year? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))
The Answer is not $253.39
Plush Pilots, Inc., has balance sheet equity of $6.7 million. At the same time, the income statement shows net income of $817,400. The company paid dividends of $408,700 and has 100,000 shares of stock outstanding. If the benchmark PE ratio is 31, what is the target stock price in one year? (Do not round intermediate calculations and round your final answer to 2 decimal places. (e.g., 32.16))
Explanation / Answer
Stock price doesn