Analisis Fundamental Untuk Menilai Kewajaran Harga Saham Dengan Dividend Discount Model (Ddm) Dan Price Earning Ratio (Per) Sebagai Dasar Pengambilan Keputusan Investasi (Studi Pada Perusahaan Sektor Property Dan Real Estate Yang Listed Di Bursa Efek Indo

Abstract

The research aimed at minimizing the losses when investors are planning investments in stock, beside that the investors also should consider the fundamental variables in investment decision making. Investors able to minimize the losses by analyzing the stock price fairness by fundamental analysis. The research objects were Property and Real Estate Companies That listed in Indonesian Stock Exchange. Samples selection used purposive sampling. The results were by using Dividend Discount Model (DDM) and Price Earning Ratio (PER) showed that ADHI, BSDE, and GMTD stocks at undervalued condition, the appropriate investment decision was to buy the stocks. Stocks at overvalued condition, that was JRPT, LPKR, MKPI, PTPP, and PUDP, the appropriate investment decision was to sell the stocks or hold the stocks if have been owned, because the good fundamental conditions of the companies. Stocks that were correctly valued, first by using DDM that was ASRI, CTRP, GPRA, SMRA, TOTL, and WIKA, the appropriate decision making by holding the stocks. Second, by using PER that was ASRI, CTRP, GPRA, PUDP, SMRA, and WIKA, the appropriate decision making by holding the stocks