Report
Fiona Orford-Williams

Euromoney Institutional Investor - Q3 in line

Euromoney’s Q3 trading update indicated overall trading performance in line with management expectations and we have not changed our FY19 estimates. The recent capital markets day took a deeper dive into the Investment Research and Fastmarkets operations and how management is working on transforming them into ‘3.0’ B2B information service businesses, built into clients’ workflows. Given the group’s earnings resilience, subscription base and attractive cash conversion, the rating disparity with peers still appears excessive.
Underlying
Euromoney Institutional Investor PLC

Euromoney Institutional Investors is an international business information group. Co.'s segments are: Asset management, which provides independent research; runs networks and conferences; and provides news and data that are critical for the industry; Pricing, data & market Intelligence, which provides prices, data, analysis and events that are critical for business processes and workflow across a number of industries, such as metals and mining industries, telecoms, insurance, airline and banking; Banking & finance, which provides market intelligence, news, training and conferences; and Commodity events, which consists of conferences in the metals, agriculture and energy sectors.

Provider
Edison Investment Research
Edison Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

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Analysts
Fiona Orford-Williams

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