Morningstar - Carsales.Com Limited (CAR) Carsales.com Looks Overseas for Growth

Report

Morningstar

Gareth James

EUR 100.00 For Business Accounts Only

Carsales.com Looks Overseas for Growth

Narrow-moat-rated Carsales.com's share price has shaken off concerns about the retirement of its founder and chief executive, Greg Roebuck, and issues with Statton finance last year. The share price has risen by around 45% over the past 18 months to AUD 14.67 and we now believe the stock is slightly overvalued relative to our unchanged fair value estimate of AUD 13.90. Our fair value implies a fiscal 2019 price/earnings ratio of 24, versus a market price implied of 25, and we expect an EPS CAGR ...

13/06/2018 13 EN

Underlying

Carsales.Com Limited

Carsales.com's principal activities consists of: online advertising services, which include classified advertising and display advertising services; data and research services, which include software, analysis, research and reporting, valuation services, website development and hosting as well as photography services; finance and related services, which include the Stratton Finance Pty Ltd subsidiary that provides finance arrangements for vehicles, boats, and other leisure items, vehicle procurement and other related services to customers; and international services, in which Co. has operations in overseas countries through both subsidiaries and equity accounted associate investments.

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AU000000CAR3 Australian Securities Exchange Australia

Provider

Morningstar

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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Analysts

Gareth James

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Carsales.com Looks Overseas for Growth

CAR Group Ltd: 1 director

Carsales Entitlement offer

CARSALES.COM reduced its risk exposure resulting in an upgrade to Slightly Positive

Business as Usual for No-Moat Lonza; Specialty Ingredients Carve-Out on Track for 2020

Sasol Provides Full-Year Production Update

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

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