Ainsworth’s Stronger Second Half Shows Improvement in Challenging Domestic Market; FVE Unchanged
Strong second-half momentum saw narrow-moat-rated Ainsworth Game Technology finish fiscal 2017 marginally ahead of expectations. Our AUD 2.40 per share fair value estimate is intact. The share price has risen by over 40% since mid-May and now trades broadly in line with our fair value estimate. Underlying net profit after tax of AUD 48 million declined 9% on the prior year, weighed down by increased competitive pressure in the domestic market, and some softness in North America, partially offset...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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