Analisis Fundamental Untuk Menilai Kewajaran Harga Saham Dengan Dividend Discount Model (Ddm) Dan Price Earning Ratio (Per) Sebagai Dasar Pengambilan Keputusan Investasi (Studi Pada Subsektor Perbankan Yang Listing Di Bei Periode 2012-2014)

Ismik Kurniaty H. • Raden Rustam Hidayat • Maria Goretti Wi Endang N. P.
Journal article Jurnal Administrasi Bisnis S1 Universitas Brawijaya • April 2016 Indonesia

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(Bahasa Indonesia, 7 pages)

Abstract

This research assess the fainess of stock price using fundamental analysis with Dividend Discount Model (DDM) and Price Earning Ratio (PER) approaches in banking companies listed in Indonesia Stock Exchange 2012-2014 to make investment decision. This research is descriptive research with quantitative approach. The sampling technique is purposive sampling which 7 companies choosen as sample from 41 population companies. Fundametal ratios are analyzed and intrinsic values are compared with market price. Fundamental ratios used in this research is Return On Equity (ROE), Earning Per Share (EPS), Dividend Per Share (DPS), and Dividend Payout Ratio (DPR). Intrinsic value is real theoritical value of stock that suppose to be happen. Stock is overvalued if its intrinsic value is lower than its market price. Stock is undervalued if its intrinsic value is higher than its market velue. Stock is correctly valued if its intrinsic value is equal to its market price. The result shows that BBCA, BBNI, BBRI, and BMRI are overvalued, the recommendation of investment decision is to sell those stock. BBNP, BBTN, and BDMN are undervalued, the recommendation of investment decision is to buy those stock.

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Jurnal Administrasi Bisnis S1 Universitas Brawijaya

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