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Hunting Fisheries has 625 million shares outstanding. Projected end of year earnings are $920 million. The firm's equity cost of capital is 9.4%. Hunting pays
Hunting Fisheries has 625 million shares outstanding. Projected end of year earnings are $920 million. The firm's equity cost of capital is 9.4%. Hunting pays out 30% of its earnings in total: 20% paid out as dividends and 10% used to repurchase shares. If Hunting's earnings are expected to grow at a constant 3.4% per year, what is its share price?
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