Ainsworth Continues to Struggle in Key Regions; Cutting FVE to AUD 1.20 From AUD 1.70
We cut our earnings estimates for narrow-moat Ainsworth in fiscal 2019, 2020, and 2021 by around 40% on average to AUD 6.0, 6.7, and 7.5 cents per share. Our fair value estimate falls to AUD 1.20 per share from AUD 1.70 on the back of our revised view of the company’s longer-term prospects. In a disappointing trading update, Ainsworth guided to fiscal 2019 first-half profit before tax of around AUD 8 million, a 30% drop on the previous corresponding period. Management expects second-half PBT to ...Ainsworth Game Technology is a gaming machine developer, designer and manufacturer operating in local and global markets. Co. is engaged in the design, development, production, lease, sale and servicing of gaming machines and other related equipment and services. Co. provides its product within both land based and on-line gaming markets, including social gaming and licensed Real Money gambling markets. Co.'s game brands include Mustang Money 2™, Thunder Cash™, Twice The Money™ and Cash Cave™.
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.
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