Morningstar - East Japan Railway Company (9020) JR Easts Results Are in Line, but Higher Capital Expenditure Guidance Lowers Our FVE to JPY 11,800

Report

Morningstar

Lorraine Tan

EUR 100.00 For Business Accounts Only

JR East's Results Are in Line, but Higher Capital Expenditure Guidance Lowers Our FVE to JPY 11,800

We lower our fair value estimate for East Japan Railway Corp., or JR East, to JPY 11,800 from JPY 12,200 following the company's plan to raise its capital expenditure more than expected for fiscal 2019. We think this implies some risk that overall spending plans could be higher when the company reveals its new targets at midyear. Fiscal 2018 (year ended March 31, 2018) results were in line with our estimates, with net profit rising 4% year over year to JPY 289 billion. Although we lift our fisca...

02/05/2018 13 EN

Underlying

East Japan Railway Company

East Japan Railway is mainly engaged in the transportation business. Co. operates railway routes covering mainly in the Kanto area and the Tohoku area totaling of 7,457.3 km of railway with 1,665 stations, 11,506 standard rolling stocks and 1,370 bullet Train rolling stocks as of Mar 31 2017. Co. establishes commercial space in the railway stations and operates restaurants, retail stores, cafes, convenience stores and shopping centers; and leases office buildings located in the railway stations and surrounding areas. Co. is also engaged in hotel business, advertising agency, travel operations, wholesale, truck delivery, information processing, cleaning, as well as credit card business.

See profile

JP3783600004 Japan

Provider

Morningstar

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.

See profile

Analysts

Lorraine Tan

Other Reports on these Companies

Pelham Smithers Associates Ltd

PSA Market Strategy: Japan Perspective for 2023

At the beginning of every year we publish our PSA Perspective, a report intended as a long shelf-life look at the year ahead. This year Pelham Smithers discusses Japan's economy, the outlook for the stock market, and some stand-out themes and developments for the year. These include the digital yen and the demise of live action entertainment in Japan. We also update our noted PSA Focus List of stocks. Table of Contents Overview 3 Background: 4 Japan’s Economic Outlook 5 Japan’s Quietly Booming Domestic Demand Situation 5 Japan Changes Monetary Policy (a Small ...

January 4, 2023 January 4, 2023 1 EN

Pelham Smithers Associates Ltd

PSA Market Strategy: The Japan Perspective 2022

Although the Japanese economy, politics and stock market seem to be where they were this time last year, there is a seismic shift going on in the way the Japanese stock market behaves that could make investing in Japan in 2022 quite different to previous years. We look at how and why this shift has taken place and what it means for investing in Japan in the coming year.

January 3, 2022 January 3, 2022 48 EN

TheScreener

With a more favourable environment, EAST JAPAN RAILWAY improves to Positive

EAST JAPAN RAILWAY (JP), a company active in the Transportation Services industry, is favoured by a more supportive environment. The independent financial analyst theScreener has confirmed the fundamental rating of the title, which shows 3 out of 4 stars, as well as its unchanged, defensive market behaviour. The title leverages a more favourable environment and raises its general evaluation to Positive. As of the analysis date December 10, 2021, the closing price was JPY 7,090.00 and its potential was estimated at JPY 8,115.40.

Free Trial

December 11, 2021 December 11, 2021 6 EN

Business as Usual for No-Moat Lonza; Specialty Ingredients Carve-Out on Track for 2020

Contract manufacturer Lonza reported solid half-year results, with over CHF 2.9 billion in total sales year to date, up about 6.4% from last year and boosted by foreign exchange tailwinds. Core EBITDA margin expanded 30 basis points from last year to about 27.8%, helped slightly by new accounting standards. Management indicated that it continues to expect mid- to high-single-digit sales growth in 2019. We are maintaining our fair value estimate of CHF 210 per share and our no-moat rating. The ph...

EUR 100.00

July 25, 2019 July 25, 2019 13 EN

Joe Gemino

Joe Gemino

Sasol Provides Full-Year Production Update

No-moat Sasol provided an update on its full-year fiscal 2019 production metrics that included relatively stable liquids production. For the full year ended June 30, Sasol produced 1,470 thousand barrels of crude oil and condensate a day compared with 1,469 mboe/d in the year-ago period. However, declines continued with the companyâ€™s natural gas production, down 4% to 130.3 billion cubic feet compared with the period ended June 30, 2018. Sasol also reported flat refined products of 31.4 mmboe/d ...

EUR 100.00

July 25, 2019 July 25, 2019 12 EN

Damien Conover

Damien Conover

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

We don't expect any major changes to our AstraZeneca fair value estimate following second-quarter results that largely fell in line with our expectations and slightly ahead of consensus expectations. Overall, the company is posting leading Big Pharma sales growth with total sales up 18% operationally year over year, led by impressive cancer drug sales growth of 57%. Astra's ability to continue to bring next generation drugs to the market that address unmet medical need (especially in oncology) s...

EUR 100.00

July 25, 2019 July 25, 2019 14 EN

Sign-up for free to access full reports immediately

Email Address*

Choose Password* ( 6 or more characters )

Due to regulatory restrictions regarding the distribution of financial research, this report is restricted to a specific region or investor type. Get access to exclusive reports by answering the questions below.

Select your country*

Get financial insights straight to your inbox

By clicking "register" you accept the Terms and Conditions & Privacy Policy

Already on ResearchPool?

Almost there...

Are you a professional investor?

Select your country

REGISTER

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

In order to access this report please create an account.

LOGIN

JR East's Results Are in Line, but Higher Capital Expenditure Guidance Lowers Our FVE to JPY 11,800

PSA Market Strategy: Japan Perspective for 2023

PSA Market Strategy: The Japan Perspective 2022

With a more favourable environment, EAST JAPAN RAILWAY improves to Positive

Business as Usual for No-Moat Lonza; Specialty Ingredients Carve-Out on Track for 2020

Sasol Provides Full-Year Production Update

Astra Posts Solid 2Q, Driven by Strong Cancer Drug Sales and Moving Away From One-Time Divestments

Create a free ResearchPool account to access full reports, get a personalised dashboard and follow providers or companies

Sign-up for free to access full reports immediately

ResearchPool Subscriptions

Get the most out of your insights

Why subscribe?

How to subscribe

ResearchPool Subscriptions

This report is only available to subscribers

Why subscribe?

How to subscribe