An investment bаnker is determining the vаlue оf а target in the energy industry. The cоmpany has sales оf $8,209 million. The banker decide to use a relative valuation approach. To do this, the Investment Banker finds the following information: Comp 1 Comp 2 Comp 3 Comp 4 Comp 5 Industry Energy Energy Energy Energy Telecoms Sales $10,352 $6,666 $7,999 $11,427 $4,499 Price $72.79 $61.18 $65.67 $68.38 $59.27 Shares 1,389 1,485 1,310 1,454 1,341 Net Income $2,834 $1,439 $2,029 $3,372 $1,298 Debt Capital $3,907 $1,656 $3,402 $5,308 $3,116 Total Inv Capital $11,209 $5,977 $10,056 $13,580 $7,708 EBIT $3,609 $1,848 $2,707 $4,467 $1,819 Current Taxes $541 $277 $406 $670 $272 Net PP&E $5,072 $3,666 $5,439 $7,884 $2,384 The target had $1,944 million in debt capital, $1,424 million total invested capital, and 1,424 million shares of stock. On their income statement, they reported an EBIT of $1,836 million and current taxes of $275 million, and net income of $1,405 million. On their balance sheet, they reported net PP&E of $4,733 million.The banker defines the implied valuation range with the mean of the target’s three closest comps and to span Q1 to Q3.The banker benchmarks the target by assessing their (1) asset utilization with fixed asset intensity, (2) profitability with operating margin, (3) capital structure with debt capitalization ratio, and (4) return on invested capital. They define a financial ratio as typical if it is within two standard deviations of the mean of the closest comps and optimal if it is within one standard deviation.What is the value of one share of the target's stock? (Enter your answer as a number of dollars, rounded to the nearest $0.01)
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