Garmin 4Q Results Surpassed Expectations; Raising FVE to $70; Shares Slightly Overvalued
Garmin reported better-than-expected fourth-quarter results as acquisitions and organic growth in the firm’s narrow-moat segments along with fitness more than offset expected decline in auto. Strong growth in the higher margin outdoor and aviation segments drove overall gross and operating margin expansion. Management provided revenue guidance above our projection and consensus, helped partially by the recently announced acquisition of Tacx, a maker of widely used indoor bike trainers. However, ...
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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