CSET’s Near-Term Outlook Remains Pressured by Falling Freight Rates; Shares Overvalued
No-moat Cosco Shipping Energy Transportation, or CSET, reported 2016 net profit of CNY 1.93 billion, up 64% year over year. The strong results were mainly due to gains from the disposal of its dry bulk business. Nonetheless, earnings underperformed our expectation due to a weak fourth quarter on the back of provisions for estimated losses on its chartering contracts and a loss on disposal of property, plant, and equipment. We expect CSET’s earnings to drop by 23% in 2017, as declining oil tanker...
Morningstar, Inc. is a leading provider of independent investment research in North America, Europe, Australia, and Asia. The company offer an extensive line of products and services for individual investors, financial advisors, asset managers, and retirement plan providers and sponsors.
Morningstar provides data on approximately 530,000 investment offerings, including stocks, mutual funds, and similar vehicles, along with real-time global market data on more than 18 million equities, indexes, futures, options, commodities, and precious metals, in addition to foreign exchange and Treasury markets. Morningstar also offers investment management services through its investment advisory subsidiaries and had approximately $185 billion in assets under advisement and management as of June 30, 2016.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.