We See Adient's Problems as Fixable but the Turnaround Will Require Investors to be Patient
Adient's fourth-quarter fiscal 2018 results report Nov. 9 were not different from what it preannounced on Oct. 19, but the stock fell 25% because the company announced the dividend will be suspended starting in the second quarter of fiscal 2019. We are not changing our fair value estimate as our investment thesis has not changed and dividends are not part of our free cash flow calculation, but we may have fair value adjustments later this month after incorporating the 10-K details into our model...
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.
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