CSET’s Strong 1Q Results Underpinned by Higher Freight Rates; FVE Unchanged at HKD 4.20
Despite a strong start for no-moat Cosco Shipping Energy Transportation’s, or CSET’s, first-quarter 2019 results, we think the firm is fairly valued and we keep our fair value estimate of HKD 4.20. First-quarter 2019 net profit of CNY 428.1 million under PRC GAAP was a sharp turnaround from a net loss of CNY 86.5 million a year ago. The results beat our expectation largely on the back of higher freight rates, accounting for 40% of our full-year estimate, but we maintain our earnings forecasts gi...
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.