Recent Cimic Contract Wins Calm Fears, We now Assume EBITDA Grows at a CAGR of 4.6% for Five Years.
Our 2018 EPS forecast of AUD 2.34 is unchanged following Cimic’s third-quarter 2018 earnings results. Nine-month year-on-year revenue, EBIT, and NPAT increases of 11%, 15%, and 13% to AUD 10.7 billion, AUD 825 million and AUD 564 million, respectively, are all in line with our expectations. No prizes though, with our expectations simply following Cimic’s characteristically timely and detailed guidance. The firm has confirmed 2018 NPAT guidance of AUD 720-780 million, an increase of 3%-11%, subje...CIMIC Group is a construction company and the contract miner. Co. provides construction, mining, engineering, public-private partnerships (PPP), and operation and maintenance services to the infrastructure, resources and property markets. Co. comprises the following main segments: construction, contract mining, PPP, engineering, Habtoor Leighton Group, and commercial and residential. Co. delivers its services through several companies: CPB Contractors Pty Ltd, Leighton Asia Limited, Thiess Pty Ltd, Pacific Partnerships, and EIC Activities Pty Ltd. Co. operates across the Australia Pacific, Asia, Middle East and Americas regions in the infrastructure, resources and property markets.
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.
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