The Impact of Return on Equity (ROE) and Earnings Per Share (EPS) on The Stock Price At PT. Ultrajaya Milk Industry and Trading Company, Tbk.

Authors

  • Amalia Nurrohmah Politeknik Piksi Ganesha
  • Euis Hernawati Politeknik Piksi Ganesha

Keywords:

ROE, EPS, Stock Price

Abstract

The aim of this research is to evaluate the impact of return on equity (ROE) and earnings per share (EPS) on the stock price of PT. Ultrajaya Milk Industry and Trading Company, Tbk. This study employs a quantitative methodology. The analysis utilizes secondary data sourced from the company's annual financial reports, specifically focusing on metrics such as return on equity, earnings per share, and stock price over the period spanning from 2017 to 2023. The research included traditional assumption testing and double linear analysis as data analysis methodologies. The findings of this research indicate that the variables return on equity (ROE) and earnings per share (EPS) have a concurrent and substantial impact on the stock price.

References

Dewi, Endiana, I. D. M., and Arizona, I. P. E. (2019). Pengaruh Rasio Likuiditas, Rasio Leverage dan Rasio Profitabilitas Terhadap Financial Distress Pada Perusahaan Manufaktur. Journal of Chemical Information and Modeling, 53(November), 1689–1699.

Dewi, K. M. S., Tripalupi, L. E., and Haris, I. A. (2019). Pengaruh Return on Equity (ROE) Dan Earning Per Share (EPS) Terhadap Underpricing Pada Saham Perdana Di Bursa Efek Indonesia Tahun 2016. Jurnal Pendidikan Ekonomi Undiksha, 10(1), 200. https://doi.org/10.23887/jjpe.v10i1.20115

Dwiningwarni, S. S., and Jayanti, R. D. (2019). Analisis Rasio Keuangan Untuk Mengukur Kinerja Keuangan Koperasi Serba Usaha. J-MACC : Journal of Management and Accounting, 2(2), 125–142. https://doi.org/10.52166/j-macc.v2i2.1659

Fahmi, I. (2014). Manajemen Keuangan Perusahaan Dan Pasar Modal (Edisi Pert). Mitra Wacana Media.

Ghozali. (2011). Aplikasi Analisis Multivariat dengan Program IBM SPSS 19. UNDIP.

Hirota, S. (2023). Money supply, opinion dispersion, and stock prices. Journal of Economic Behavior and Organization, 212. https://doi.org/10.1016/j.jebo.2023.06.014

Mayanti, Y. (2022). Pengaruh ROA, ROE, dan EPS terhadap Harga Saham Perusahaan Perbankan yang Terdaftar di Bursa Efek Indonesia Tahun 2017-2020. Jurnal Accounting Information System (AIMS), 5(1), 26-39.

Ji, X., Wang, J., and Yan, Z. (2021). A stock price prediction method based on deep learning technology. International Journal of Crowd Science, 5(1). https://doi.org/10.1108/IJCS-05-2020-0012

Kasmir. (2014). Analisis Laporan Keuangan (Edisi satu). PT. Raja Grafindo Persada.

Li, W., Jingqi, Z., and Chen, L. (2023). Cash dividends, return on equity and earnings persistence. Economic Research-Ekonomska Istrazivanja , 36(1). https://doi.org/10.1080/1331677X.2022.2097106

Pangaribuan, A. A., and Suryono, B. (2019). Pengaruh ROA, ROE, dan EPS Terhadap Harga Saham Perusahaan Transportasi di BEI. Jurnal Ilmu Dan Riset Akuntansi, 8(5), 1–15.

Rahmadini, S. (2020). Pengaruh ROE Dan EPS Terhadap Harga Saham Pada Perusahaan Pembangunan Tahun 2012-2017 Yang Terdaftar Di BEI. KRISNA: Kumpulan Riset Akuntansi, 12(1), 50–54. https://doi.org/10.22225/kr.12.1.1183.50-54

Sadorsky, P. (2021). A Random Forests Approach to Predicting Clean Energy Stock Prices. Journal of Risk and Financial Management, 14(2). https://doi.org/10.3390/jrfm14020048

SARI, D. I. (2021). Pengaruh Roa, Roe Dan Eps Terhadap Harga Saham Perusahaan Perbankan Yang Terdaftar Di Bei Periode 2016-2019. Jurnal Neraca: Jurnal Pendidikan Dan Ilmu Ekonomi Akuntansi, 5(1), 1. https://doi.org/10.31851/neraca.v5i1.5068

Setia, M., Purwanto, N., and Setiyowati, S. W. (2018). Pengaruh Laba Akuntansi, Arus Kas Operasi dan Return On Equity (ROE) Terhadap Return Saham Pada Perusahaan Manufaktur Sektor. Jrma, 6(2), 1–13.

Sujata, N. K. A. P. D., and Badjra, I. B. (2020). Rasio Pasar, Profitabilitas Dan Likuiditas Berpengaruh Terhadap Harga Saham Pada Perusahaan Otomotif Dan Komponen. E-Jurnal Manajemen Universitas Udayana, 9(6), 2167. https://doi.org/10.24843/ejmunud.2020.v09.i06.p06

Tandelilin, E. (2010). Portofolio dan Investasi Teori dan Aplikasi. Kunisius.

Tristanti, W., and Marliani, S. (2019). Pengaruh Return On Equity Dan Earning Per Share Terhadap Harga Saham Pada Perusahaan Manufaktur Sub Sektor Makanan Dan Minuman Yang Terdaftar Di Bursa Efek Indonesia Periode 2012 – 2017. Buana Ilmu, 4(1), 116–136.

Wong, H. T. (2022). The impact of real exchange rates on real stock prices. Journal of Economics, Finance and Administrative Science, 27(54). https://doi.org/10.1108/JEFAS-03-2021-0011.

Yang, Y., and Wang, Z. (2023). Prediction of return on equity of the energy industry based on equity characteristics. Frontiers in Energy Research, 11. https://doi.org/10.3389/fenrg.2023.1136914

Zhao, C., Hu, P., Liu, X., Lan, X., and Zhang, H. (2023). Stock Market Analysis Using Time Series Relational Models for Stock Price Prediction. Mathematics, 11(5). https://doi.org/10.3390/math11051130.

Downloads

Published

2024-07-02

Issue

Section

Articles