FlexiGroup Reaffirms Fiscal 2017 Guidance; FVE Unchanged.
Our AUD 2.80 per share fair value estimate for no-moat-rated FlexiGroup is unchanged following the annual general meeting update. With trading for the first four months of fiscal 2017 in line with expectations, management reaffirmed its sombre full-year cash NPAT guidance range of AUD 90 million-AUD 97 million. We continue to forecast fiscal 2017 cash NPAT of AUD 94 million, down 3.5% on the prior year. EPS is forecast to decline more (10.3%) due to the full-year impact of the capital raising in...Flexigroup is a financial services group providing no interest ever, leasing, vendor finance programs, interest free and Visa / Mastercards, managed print services, lay-by and other payment solutions to consumers and businesses. Co.'s business areas include: no interest ever products and cheque guarantee services; the interest free cards business, which provides personal finance products; the Australia leasing business, which provides leasing products throughkey partners; the New Zealand leasing business, which provides leasing products primarily to small and medium sized businesses and the education sector; and the New Zealand cards business, which provides non-bank consumer credit.
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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