The Effect of Earning Per Share, Return on Assets, Return on Equity, Debt to Equity Ratio on Stock Prices (Study on Cigarette Companies Listed on the Indonesian Stock Exchange for the Period 2015-2017)

Abstract

This study aims to determine partially, simultaneously and dominantly the effect of Earning Per Share (EPS), Return On Assets (ROA), Return On Equity (ROE), Debt to Equity Ratio (DER) on Stock Prices in Cigarette Companies Listed on the Indonesia Stock Exchange for the period 2015-2017. The results of research processed with the SPSS programme that the Adjusted R Square value in the coefficient of determination analysis results shows a value of 0.931 or 93.1%. This shows that the four independent variables, namely Earning Per Share (EPS), Return On Assets (ROA), Return On Equity (ROE), Debt To Equity Ratio (DER), affect the stock price variable by 93.1%. While the remaining 6.9% is influenced by other factors besides the factors proposed in this study. The simultaneous test results (F test) show a significance value of 0.000 < 0.05, meaning that Earning Per Share (EPS), Return On Assets (ROA), Return On Equity (ROE), Debt To Equity Ratio (DER), simultaneously have a positive and significant effect on stock prices in cigarette sub-sector companies listed on the Indonesian Stock Exchange for the period 2015-2017. Partial results (T test) show that the significance value of Earning Per Share (EPS) 0.004 < 0.05 means that EPS has a positive and significant effect on stock prices, Return On Assets (ROA) value 0.038 < 0.05 means that ROA has a positive and significant effect on stock prices, Return On Equity (ROE) value 0.049 < 0.05 means that ROE has a positive and significant effect on stock prices, Debt To Equity Ratio (DER) value 0.049 < 0.05 means that DER has a positive and significant effect on stock prices in cigarette companies.