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Posted: September 28th, 2022
The Goodman Industriesâ and Landry Incorporatedâs stock prices and dividends
Directions: Answer the following questions
on a separate document. Explain how you reached the answer or show your work if
a mathematical calculation is needed, or both. Submit your assignment using the
assignment link in the course shell. This homework assignment is worth 100
points.
Use
the following information for questions 1 through 4:
The Goodman Industriesâ and Landry
Incorporatedâs stock prices and dividends, along with the Market Index, are
shown below. Stock prices are reported for December 31 of each year, and
dividends reflect those paid during the year. The market data are adjusted to
include dividends.
Goodman Industries
Landry Incorporated Market
Index
Year
Stock Price Dividend Stock
Price Dividend Includes Dividends
2013 $25.88
$1.73 $73.13 $4.50 17495.97
2012 22.13
1.59 78.45 4.35 13178.55
2011 24.75
1.50 73.13 4.13 13019.97
2010 16.13
1.43 85.88 3.75 9651.05
2009 17.06 1.35 90.00 3.38 8403.42
2008 11.44
1.28 83.63 3.00 7058.96
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1.
Use the data given to calculate
annual returns for Goodman, Landry, and the Market Index, and then calculate
average annual returns for the two stocks and the index. (Hint: Remember,
returns are calculated by subtracting the beginning price from the ending price
to get the capital gain or loss, adding the dividend to the capital gain or
loss, and then dividing the result by the beginning price. Assume that
dividends are already included in the index. Also, you cannot calculate the
rate of return for 2008 because you do not have 2007 data.)
2.
Calculate the standard
deviations of the returns for Goodman, Landry, and the Market Index. (Hint: Use
the sample standard deviation formula given in the chapter, which corresponds
to the STDEV function in Excel.)
3.
What dividends do you expect
for Goodman Industries stock over the next 3 years if you expect the dividend
to grow at the rate of 5% per year for the next 3 years? In other words,
calculate D1, D2, and D3. Note that D0 = $1.50.
4.
Assume that Goodman Industriesâ
stock has a required return of 13%. You will use this required return rate to
discount the dividends calculated earlier. If you plan to buy the stock, hold
it for 3 years, and then sell it for $27.05, what is the most you should pay
for it?
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