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Publication
Equity research: Pestana International Holdings SGPS,S.A.
| Name: | Description: | Size: | Format: | |
|---|---|---|---|---|
| 1.66 MB | Adobe PDF |
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Abstract(s)
Este trabalho de projeto tem como objetivo fazer uma equity research ao Pestana International Holdings S.P.G.S, S.A. que é uma multinacional portuguesa não cotada em bolsa que tem atividade em várias áreas de negócio, com a finalidade da obtenção do valor do preço alvo para as suas ações.
Para a execução da avaliação foi feita uma investigação dos métodos possíveis a utilizar dos quais, o discounted cash flow foi o escolhido sendo a avaliação feita mais detalhadamente com o free cash flow to the firm.
Com a avaliação feita foi possível apurar que o Grupo Pestana possui um valor de capital próprio de 1 079 552 031 € e um preço alvo por ação de 4,54 €. Através da análise de sensibilidade observa-se que o valor unitário por ação poderá variar entre um mínimo de 2,78 € e um máximo de 5,66 €.
This project work aims to make an equity research to Pestana International Hol-dings S.P.G.S. S.A. which is a Portuguese multinational not listed on the stock exchange that has activity in several business areas, with the purpose of obtaining the target price value for its shares. For the execution of the evaluation, an investigation was made of the possible methods to be used from which, the discounted cash flow was chosen, and the evaluation was made in more detail with the free cash flow to the firm. With the evaluation made it was possible to establish that the Pestana Group has a equity value of 1 079 552 031 € and a target price per share of 4,54 €. Through sensiti-vity analysis, we observed that the unit value or action may vary between a minimum of 2.78 € and a maximum of 5.66 €.
This project work aims to make an equity research to Pestana International Hol-dings S.P.G.S. S.A. which is a Portuguese multinational not listed on the stock exchange that has activity in several business areas, with the purpose of obtaining the target price value for its shares. For the execution of the evaluation, an investigation was made of the possible methods to be used from which, the discounted cash flow was chosen, and the evaluation was made in more detail with the free cash flow to the firm. With the evaluation made it was possible to establish that the Pestana Group has a equity value of 1 079 552 031 € and a target price per share of 4,54 €. Through sensiti-vity analysis, we observed that the unit value or action may vary between a minimum of 2.78 € and a maximum of 5.66 €.
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Keywords
Grupo Pestana Equity research Discounted cash flow Enterprise value Free cash flow to the firm equity value