CNA Sets FY EPS Target in Line With Our Estimate But Below Consensus; Excessive Share Price Reaction
We reaffirm our GBX 160 per share fair value estimate along with our no-moat, stable moat trend ratings after Centrica released its trading statement for the first four months of the second half reflecting a persistently challenging backdrop. Still, the company reiterated its dividend, cash flow, and net debt targets. Management set 2018 EPS guidance at GBX 11.5 per share, in line with our GBX 11 though below the consensus' GBX 13. We view the negative share price reaction as excessive.ÂChurn a...
Centrica is an energy and services company. Co.'s segment are: Energy Supply and Services, which supplies gas and electricity in the U.K. and North America; Connected Home, which supplies energy solutions and technologies to residential customers; Distributed Energy and Power, which supplies energy solutions, generation and technologies to commercial and industrial customers; Energy Marketing and Trading, which trades and optimizes energy; Exploration and Production, which produces and processes gas and oil and develops new fields; Central Power Generation, which generates power from combined cycle gas turbines, wind and nuclear assets; and Centrica Storage, gas storage in the U.K.
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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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