Core Lab Reports Solid 4Q Results; Company Continues to Look Very Overvalued
Core Lab reported fourth-quarter results squarely in line with our expectations. Revenue edged up 3% sequentially, and operating margins strengthened from 17% to 19%, the company’s best posting since 2015. Our fair value estimate and wide moat rating are unchanged. We still see Core Lab as very overvalued, by about 45% at current share prices.Core Lab’s sales of its premium-priced HERO PerFRAC perforating system increased 30% sequentially, outpacing overall production enhancement segment growth...
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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