CoStar Group Reports Third-Quarter Growth; Focus Turns To CoStar Suite/LoopNet Integration
We saw little in CoStar Group’s third-quarter earnings that would alter our $195 fair value estimate and wide moat rating. CoStar reported adjusted earnings per share of $1.11 in the third quarter versus $0.53 a year ago. The firm increased its outlook for 2016 earnings to $4.20-$4.25, raising the midpoint $0.13 from prior guidance. Revenue increased 12.5% in the quarter from a year ago, led by multifamily, which increased 17% on a stand-alone basis. We continue to see growth in this segment as ...CoStar Group provides information, analytics and online marketplace services to the commercial real estate and related business community through its database of commercial real estate information covering the U.S., the U.K., and parts of Canada, Spain, Germany and France. The company provides online marketplaces for commercial real estate, apartment rentals, lands for sale and businesses for sale. The company operates within two operating segments, North America and International, and its services are distributed to its clients under subscription-based license agreements that renew automatically, a majority of which have a term of one year.
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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