BT Reported Generally In-Line Fiscal 1Q Results; Shares Undervalued
BT reported fiscal first-quarter results that were broadly in line with our expectations, and we anticipate maintaining our GBX 370/$24 fair value estimates and narrow moat rating. We believe the shares are undervalued at current prices. The firm reported revenue growth of 1%, although the majority of this was from currency movements, versus our full-year projection of flat revenue. The key driver remains its consumer division, which saw revenue increase 7%. This improvement was driven by a 9% g...BT is a communications services company, delivering products and services with industry-specific communications solutions and consulting expertise. Co.'s principal activities include: networked IT services; local, national and international telecommunications services; broadband and internet products and services; and converged fixed/mobile products and services. Co. operates five lines of businesses: BT Global Services, BT Business, BT Consumer, BT Wholesale and Openreach, providing services to around 6,500 large corporate and public sector customers, in more than 170 countries worldwide.
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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