Computershare Remains Overvalued Following Upgraded Earnings Guidance
Narrow moat-rated Computershare provided updated fiscal 2018 earnings guidance. Management now expects EPS growth of 10% in constant currency terms, an upgrade from previous guidance of 7% growth. We maintain our fair value estimate at AUD 12.00 and continue to believe shares are overvalued at the current market price of AUD 15.82. Little detail was provided other than the corporate actions and mortgage services divisions are performing better than previously expected. However, considering the c...Computershare is engaged in the operation of investor services, which provides registry maintenance and related services; plan services, which provides administration and related services for employee share and option plans; communication services, which comprise document composition and printing, intelligent mailing, among others; business services, which provides bankruptcy, class action and utilities administration services, voucher services, corporate trust services and mortgage servicing activities; stakeholder relationship management services, which provides investor analysis, investor communication and management information services; and technology services.
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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