The balance sheet is repaired and BlueScope is stabilised, but significant optimism is priced in.
We raise our fair value estimate for BlueScope Steel from AUD 3.10 to AUD 3.50 per share following the fiscal 2016 result given the improved near-term outlook--increased activity and steel spreads--and strong guidance for fiscal 2017. Adjusted net profit after tax nearly doubled to AUD 274 million reflecting the acquisition of the remaining 50% of North Star, a stronger result for building products and improved margins in Australian Steel Products due to cost cuts. The adjusted result was slight...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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