Solid BlueScope Steel Result and Guidance See FVE Raised to AUD 5.00 per Share; Earnings Near Peak
Higher near-term profit forecasts see our fair value estimate for BlueScope Steel rise 9% to AUD 5.00 per share. The first-half fiscal 2017 result was solid, highlighted by significantly wider margins in the U.S. at NorthStar BlueScope, continued cost reductions in Australia and New Zealand, and robust demand for building products. Statutory net profit of AUD 359 million was slightly better than our AUD 350 million forecast. Underlying net profit was similar at AUD 360 million, after excluding l...BlueScope is a manufacturing technology company. Co.'s segments are Australian Steel Products, which produces coated and painted flat steel products for building and construction customers and commodity flat steel products; New Zealand & Pacific Steel, which consists of New Zealand Steel, Pacific Steel, New Zealand Minerals, and BlueScope Pacific Islands areas; BlueScope Buildings, which servicing the low-rise non-residential construction; Building Products ASEAN, North America and India, which producing metal coated and painted steel building products; and Hot Rolled Products North America, which includes a single site electric arc furnace producer of hot rolled coil in Ohio, the U.S.
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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