No-Moat ALS’ AUD 3.50 FVE Unchanged.
We make no change to no-moat materials tester ALS Limited’s AUD 3.50 fair value estimate, nor to our AUD 142 million or AUD 0.28 per share fiscal 2018 earnings forecast. Our forecast sits at the midpoint of the most recent AUD 135 to 145 million company guidance and is 73% improved on fiscal 2017, reflecting recent life sciences acquisitions and ongoing improvement from the minerals segment. First-half fiscal 2018 food & pharma revenue grew 64% due to the Marshfield (U.S.) and Alcontrol (U.K...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.
We have operations in 27 countries.
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