Strong Momentum in Credit Corp’s U.S. PDL and Australian Finance Businesses Results in a FVE Upgrade
No-moat rated Credit Corp Group produced strong fiscal 2019 half-year results, driven by its growth engines of United States purchased debt ledgers, or PDL, and its Australian and New Zealand lending business. The momentum in its growth businesses prompts an increase in our fair value estimate to AUD 20.70 per share from AUD 19.80. We also increase our forecast underlying net profit after tax, or NPAT, for fiscal 2019 to AUD 69.5 million from the previous AUD 68.1 million, which is in line with ...Credit Corp Group is engaged in debt purchase and collection as well as consumer lending. Co.'s segments are comprised of: debt ledger purchasing, which is comprised of purchases of consumer debts at a discount to their face value from credit providers with the objective of recovering amounts in excess of the purchase price over the collection life cycle of the receivables; and Consumer lending, which provides various financial products to credit-impaired consumers.
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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