Eaton Posts Solid Fourth-Quarter Results in Line With Our Long-Term Outlook
Narrow-moat rated Eaton had a solid fourth quarter, and its results were broadly in line with our expectations. We don’t expect to materially change our $83 fair value estimate for Eaton as we roll our model forward for 2018, although there may be some puts and takes, with slightly higher near-term margin expectations offset by modestly lower near-term top-line growth assumptions. Our fair value estimate implies a 15.5 times multiple to our current 2019 GAAP EPS estimate of $5.81 (slightly below...
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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