BT Reports Fiscal 3Q Results That Are a Bit Weak, but Shares Remain Undervalued; Maintaining Our FVE
BT Group reported fiscal third-quarter results that were a bit light. However, we are maintaining our GBX 370 per local share fair value estimate and narrow-moat rating. We believe the shares are undervalued. The firm’s reported quarterly revenue fell 3% year over year and is now down 1% for the nine-month period versus our full-year projection of flat revenue. The biggest problem continues to be the global services division. Whereas we've been modeling a significant retrenchment in revenue in t...
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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