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Rory is the CFO of McIlroy Golf Designs Inc. MGDI earned $13 million last year and maintains a 30% dividend payout ratio. The company has 2 million shares of common stock outstanding and a P/E ratio of 10. What is the price per share of MGDI's stock

Respuesta :

Answer:

Price per share of MGDI's stock is $78

Explanation:

Earnings per share=Total earnings/Shares of common stock outstanding

=(13/2)=$6.5

PE ratio=Stock price/Earnings per share

Stock price=$6.5*12

=$78.

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