Raising Fair Value Estimate Marginally for Narrow-Moat Compass as GBP Weakness Persists
We have revised our full-year 2016 revenue and earnings assumptions for narrow-moat Compass Group upward by just over 4%, following sustained weakness in the British pound. We increase our fair value estimate by 5% to GBX 1390, but we believe the shares are close to fair value, based on the prevailing share price.Despite its FTSE 100 listing, Compass generates only around 11% of its revenue from the United Kingdom; hence, the company has been one of the big beneficiaries of the currency transla...
Compass Group is engaged in providing outsourced food and support services. The five sectors in which Co. operates are: Business & Industry, which provides food for employees during their working day; Healthcare & Seniors, which helps hospitals in the public and private sectors manage and enhance quality of food and support services; Education, which provides dining solutions from kindergarten to college; Sports & Leisure, which provides hospitality and service at sporting and leisure venues, exhibition centers, visitor attractions and events; and Defence, Offshore & Remote, which provides food and support services to companies in the oil and gas and mining and construction industries.
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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