Aveo’s First-Half Result is Another Step in Steady Growth Strategy. FVE unchanged at AUD 3.50
Aveo Group reported first-half fiscal 2017 results in line with expectations, with underlying earnings of AUD 9.5 cents per security, or cps, up 7% on the AUD 8.9 cps in the previous corresponding period. The solid first half, plus high levels of residential presales puts Aveo firmly on track to hit reiterated fiscal 2017 guidance for growth of 7.6% in EPS to AUD 18.3 cps. We make minor revisions to our forecasts, with our fair value estimate unchanged at AUD 3.50. No-moat-rated Aveo is slightly...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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