Short-Term Pain, Long-Term Gain, G4S Remains Undervalued
No-moat security giant G4S delivered a pretty disappointing third-quarter update with a management statement that can be summarised as “short term headwinds, long term tailwinds." Investors are clearly tiring of the “jam tomorrow†story, however, with the shares falling close to 10% after the results. Management has guided for full-year PBITA to be flat year over year, which will result in us taking down our 2018 forecasts a touch; however, we expect this to have only a modest impact on our GBX ...G4S is a security company that provides security and related services. Co.'s Secure Solutions products are comprised mainly of manned security and facilities management services, and its Cash Solutions products are comprised mainly of physical cash management services. Within the Secure Solutions services, Co. also provides: technology services, comprising the supply, installation and monitoring of alarm systems, and security and building systems technology; facilities management; and care and justice services. Within the Cash Solutions services, Co. also provides technology services to retailers, comprising hardware and software for customer cash management and related services.
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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