CSR Remains Overvalued, With Falling Completions to Weigh on Growth
We maintain our fair value estimate for no-moat CSR at AUD 3.30 per share, following CSR’s fiscal 2017 result. The 11% increase in underlying net profit after tax to AUD 184 million was in line with our estimates, although the result was around 3% below consensus, resulting in a 12% fall in the share price. We upgrade our statutory fiscal 2018 and 2019 EPS estimates by 19% and 10%, respectively, to reflect recent property sales occurring just after balance date, although our underlying estimates...CSR is engaged in the manufacture and supply of building products in Australia and New Zealand. Co. operates in four segments, Building Products, Glass, Aluminium and Property. The Building Products segment consists of Lightweight Systems, Insulation, AFS walling systems, Bricks, and Roofing. The Glass segment includes the operations of Viridian, an architectural glass provider and manufacturer of float glass and hardcoated performance products. Products from the aluminium business include aluminium ingot, billet and slab.. The Property segment sells former operating sites.
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.