问题
单项选择题
An analyst gathered the following information for a U.S. company whose common stock is currently priced at $ 40 per share:
A．
B．2000
C．2001
D．2002
E．2003
F．2004
G．Eamings per share
H．1.13
I．0.67
J．1.33
K．1.50
L．(1.30)
M．Book value per share
N．8.48
O．8.91
P．15.75
Q．18.37
R．17.65
S．Return on equity
T．14%
U．7%
V．7%
W．8%
X．8%
答案
参考答案：B
解析：Using average ROE provides a better estimate of P/E when a company's size has changed. The average ROE is 8.8; an estimate of normal earnings per share can be derived by multiplying average ROE by ending book value per share: 0.088×17.65 per snare=$1.55 normal earnings per share, P/E =40+1.55=25.8.