No-moat ALS Shares Jump on 1H Profit Guidance. No Change to FVE
We make no change to our AUD 3.85 per share fair value estimate for no-moat ALS Limited. That is despite the company guiding for slightly higher than expected first-half fiscal 2019 underlying net profit after tax, or NPAT. There is little to indicate our longer-term assumptions warrant meaningful change. We increase our first-half NPAT forecast by 2% to AUD 85 million from AUD 83 million, to the low end of the AUD 85-90 million guidance range. Our full-year fiscal 2019 EPS forecasts increases b...ALS is a testing services provider. Co. operates four testing service divisions: Minerals, which provides assaying and analytical testing services and metallurgical services for mining and mineral exploration companies; Life Sciences, which provides analytical testing data to assist consulting and engineering firms, industry, and governments; Energy, which provides services to the black coal and oil and gas industries such as coal sampling, analysis and certification, hydrocarbon formation evaluation services, well services and related analytical testing; and Industrial, which provides the energy, resources and infrastructure sectors with testing, inspection and asset care services.
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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