Report
David Silver
EUR 101.80 For Business Accounts Only

Aecom 1Q Results Feature Broad-Based Growth in Revenue and Order Backlog. We Raise our FVE.

We expect to raise our Aecom fair value estimate by roughly $1-$2 per share from $37 mainly to reflect moderately stronger future revenue and margin assumptions, incremental benefits from U.S. tax reform, and a stronger balance sheet.
Fiscal first-quarter adjusted EPS rose to $0.57 compared with $0.53 one year ago. Evidence of both a consistent strategy and internal progress was apparent across most key metrics: healthy organic growth, broadly improved efficiency, and notable new project awards....
Provider
Morningstar
Morningstar

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.

Analysts
David Silver

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