In-Class Exercises.xlsx - MOVING AVERAGES CLOSING PRICES...

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MOVING AVERAGES CLOSING PRICES FOR CANADIAN TIRE Corp. Day Day Day Day Day Day Day Day Day 1 2 3 4 5 6 7 8 9 Price: 30 29 28 27 29 31 32 33 32 What is the 5 day moving average for days 5 to 10 ? Hint: Use the =average( ) function.

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Day Day Day Day Day Day Day Day Day 1 2 3 4 5 6 7 8 9 Price: 30 29 28 27 29 31 32 33 32 Avg of trailing 5 Day prices: 28.6 28.8 29.4 30.4 31.4 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 0 5 10 15 20 25 30 35 40 Price Mov Avg
Day 10 31

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Day Day Day Day Day Day Day Day 10 11 12 13 14 15 16 17 31 30 28 29 31 34 35 37 31.8 31.6 30.8 30 29.8 30.4 31.4 33.2
DIVIDEND DISCOUNT MODEL Next Year's Dividend = Share Value Req'd Rate of Return - Dividend Growth Rate Trailing 12 month EPS \$ 5.00 Dividend Payout Ratio (=Div/EPS) 25% Dividend (trailing 12 months) \$ 1.25 Dividend Growth Rate 3.0% Divdend (next year) \$ 1.29 Required Rate of Return (discount rate) 5.0% INTRINSIC VALUE (Share Price:Value Estimate) \$ 64.38 P/E Ratio (Price / Last year's EPS) 12.9 Forward P/E = (Price / Next year's EPS) = 12.5 (assumes EPS grows at same rate as dividends) FORWARD P/E Ratio Dividend Payout Ratio r - g Dividend Payout Ratio

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