G&K's Fiscal 2Q Results Mostly In Line, Though Merger Distractions Pressure Organic Growth
G&K Services’ fiscal 2017 second-quarter (ended December) organic revenue was mostly flat with the year-ago period and slightly below our expected run rate. Margins also came in shy of our forecast in part because of merger-related expenses (including professional and regulatory fees) associated with the Cintas transaction, which is expected to close by the second quarter of calendar 2017, pending regulatory approval. We do not expect to materially alter our $97.50 fair value estimate, which...
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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