Aveo Earnings Update Disappoints but Our Long-Term View is Intact, FVE Lowered 5% to AUD 2.00
No-moat Aveo Group’s downbeat earnings update highlighted ongoing challenges facing the retirement operator. Subdued residential property markets are slowing settlements, leading the firm to lower fiscal 2019 earnings guidance. Other highlights include guidance for full-year dividends of AUD 4.5 cents per security, the confirmation of an indicative takeover offer for Aveo, and a change towards more conservative revenue recognition. Adjusting for the weaker short-term outlook results in a decreas...Aveo Group is engaged in the development for resale of land and residential, retail, commercial and industrial property, the investment in, and management of, income producing retail, commercial and industrial Property, commercial, industrial and residential building and construction for the Group, and funds and asset management. As of June 30, 2016, Co. operated in two segments: Retirement, which develops and operates retirement villages and aged care facilities to produce rental and other income; and Non-retirement, which develops residential, commercial and retail property.
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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