THE FUNDAMENTAL OF ANALYSIS FOR ASSESSING THE USE OF REASONABLE PRICE STOCK COMPANY OF THE SECTOR INDUSTRY AND CONSUMER GOODS SECTOR INDEX TO PEN approach LQ45 USING CONSTANT GROWTH MODEL (CGM)

Erik Elmi Fahmi

Abstract


Indonesia Stock
Exchange (IDX) continues to grow with age, and circum-
stances are increasingly showing that the securities / shares
of a growing number of devotees, judging from the grow-
ing capitalization of previous years. Investing in the stock
market is expected to be an alternative banking system in
addition to data collection. The Capital markets allows the
company issuing securities in the form of a letter of debt
(bonds) or a letter of ownership (stocks). With selling to the
public, companies can obtain funding from capital markets,
as for the intended use of funds for: expansion, improve
the structure of capitalization, the transfer of shareholder
(divestment) and others. Analysis tools that used in this
paper is by using the method of Constant Growth Model
(CGM) is a company that assumed dividend calculation will
experience growth from time to time with the same growth
rate. To perform the calculation by the method of Constant
Growth Model (CGM) is required data - data that is data of
each dividend distribution - each company, Return on Eq-
uity (ROE), beta () and Dividend Payout Ratio (DPR) and
in decision-making intrinsic value of shares than the current
market value. The results of the research analysis calcula-
tions, the intrinsic value of shares acquired for the consumer
goods industry sector companies namely UNVR (31 .672,1
0) is greater than the current stock price is (14,950.00) then
it is undervalued, INDF (2549.94) is smaller than the value
current stock price is (5950.00) then is overvalued, while
the share for the company's intrinsic value agricultural sec-
tor that is AAlI and LSIP no intrinsic value, UNSP (45.44)
is smaller than the current stock value (430.00) then are
overvalued.

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