Cutting CRH's Fair Value Estimate Under Our Enhanced Cement Forecast; Shares Fairly Valued
We're introducing an enhanced methodology to forecast cement demand. Previously, we relied on the International Monetary Fund's forecasts for fixed-asset investment spending as an indicator of cement demand. However, this fails to account for declining cement intensity (cement demand per FAI dollar) as a country’s income rises, as investment spending shifts from roads and structures to equipment and technology. We now use a formula that takes into account three important factors for cement consu...CRH is a diversified international building materials company. Co. is engaged in the manufacture and distribution of a range of building materials products from the fundamentals of heavy materials and elements to construct the frame, through value-added products that complete the building envelope, to distribution channels which service construction fit-out and renewal. Co. operates seven operating segments: Europe Heavyside, Europe Lightside, Europe Distribution, Americas Materials, Americas Products, Americas Distribution and Asia.
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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