Auckland Airport Finishes Fiscal 2016 on Strong Passenger Numbers, but Already in the Price
Auckland Airport’s fiscal 2016 passenger numbers were in line, and our earnings forecasts are largely unchanged. Our DCF-based fair value estimate remains at NZD 6.50 per share. At NZD 7.10 per share, the stock is trading at a 9% premium to our fair value estimate, and on an expensive 2017 enterprise value/EBITDA multiple of 20.3 times and a forecast 2017 dividend yield of 2.7%, or 3.7% grossed up for imputation credits. While we view the outlook for the company positively, we believe the market...Auckland International Airport provides airport facilities and supporting infrastructure in Auckland, New Zealand. Co. and its subsidiaries have three reportable segments: Aeronautical, which provides services that facilitate the movement of aircraft, passengers and cargo, and provides utility services that support the airport; Retail, which provides services to the retailers within the terminals and provides car parking facilities for airport staff, visitors and passengers; and Property, which is engaged in the rental of space on airport land outside the terminals including cargo buildings, hangars and stand-alone investment properties.
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.