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Alan and bros Corporation recently reported net income of $8 million. It has 540,000 shares of common stock, which currently trades at $21 a share.
Alan and bros Corporation recently reported net income of $8 million. It has 540,000 shares of common stock, which currently trades at $21 a share. They continue to expand and anticipate that 1 year from now its net income will be $13.2 million. Over the next year, it also anticipates issuing an additional 81,000 shares of stock so that 1 year from now it will have 621,000 shares of common stock. Assuming their price/earnings ratio remains at its current level, what will be its stock price 1 year from now?
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