U.S. debt market and Australian consumer lending provide growth option to mature domestic business.
Our AUD 18.00 per share fair value estimate for no-moat-rated Credit Corp is unchanged following the mildly positive trading update. We have made minor changes to our forecasts and continue to forecast fiscal 2017 NPAT of AUD 55 million up 20% on the prior year, which is at the top end of the reaffirmed AUD 53 million to AUD 55 million guidance range. The strong growth is being driven by increased purchases and collections in purchased debt and strong growth in the newer consumer lending busines...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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