Question
Last year, Rec Room Sports reported earnings per share of $8.90 when its stock price was $258.10. This year, its earnings increased by 20 percent.
Last year, Rec Room Sports reported earnings per share of $8.90 when its stock price was $258.10. This year, its earnings increased by 20 percent. If the P/E ratio remains constant, what is likely to be the price of the Stock? (Round your answer to 2 decimal places.)
$
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Fundamentals of Financial Accounting
Authors: Fred Phillips, Robert Libby, Patricia Libby, Brandy Mackintosh
4th Canadian edition
978-1259269868, 978-1259103292
