Santander Reports 1Q 2018 Results Ahead of Our Expectation but Below Consensus
Narrow-moat Santander reported first-quarter 2018 results that were ahead of our expectations but will likely come as a disappointment to the market, with consensus seeking healthier growth rates. Santander reported EPS of 0.12 for the quarter, which suggests that our EUR 0.30 estimate for full-year EPS might be on the low side and consensus' estimate of EUR 0.50 might be a bit full, considering that the second half of the year has historically been softer for Santander.ÂCurrency translation co...
Banco Santander is a holding company, providing a range of financial products. Co.'s products and services include: retail banking business that covers all customer banking businesses; wholesale banking business; as well as asset management and insurance business. Co.'s principal operations are in Spain, the U.K., Portugal, Germany, Italy and Latin America. As of Dec 31 2014, Co.'s total assets amounted to Euro1,266,296,000,000 and total customer deposits amounted to Euro647,627,000,000.
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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