Earnings trough should be finally reached in 2019
Centrica warned on 2019 cash flows, increasing the risk of a dividend cut. The 2018 dividend is confirmed at GBX 12 per share. We expect to cut our fair value estimate by a low-double-digit rate on this publication. For the moment, we reiterate our GBX 160 fair value estimate and no-moat, stable trend rating. We recommend investors owning shares to keep them.2018 adjusted EPS decreased 10% to GBX 11.2 versus guidance of GBX 11.5Â and our GBX 11 estimate. The most disappointing performance was ag...
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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