ANALISIS FUNDAMENTAL UNTUK MENILAI KEWAJARAN HARGA SAHAM DENGAN PENDEKATAN PRICE EARNING RATIO SEBAGAI DASAR PENGAMBILAN KEPUTUSAN INVESTASI

Abstract

One of the instruments in the traded capital market is stocks. Investing in shares provides high returns but is in line with the risks that may occur. Therefore, stock analysis is needed before deciding to invest in a company. The analysis is conducted with the aim to find out the reasonableness of a stock price listed on the capital market so as to produce the right and appropriate investment decision. The approach used in this study is the Price Earning Ratio (PER) approach to the cement sub-sector companies during the period of 2016 to 2018. Based on the purposive sampling technique, 4 companies were obtained as the research sample. The results showed that the shares of PT Indocement Tunggal Prakarsa Tbk (INTP), PT Semen Baturaja (Persero) Tbk (SMBR), PT Semen Indonesia (Persero) Tbk (SMGR), and PT Wijaya Karya Beton Tbk (WTON) were in the undervalued category, it means that an investment decision that can be taken is to buy these shares for potential investors, whereas for investors who already own the shares can hold shares in the hope that the stock price will rise in the future.