Solid First-Quarter Results Leave Our Long-Term Forecast for IHS Markit Intact; Shares Fairly Valued
We do not plan to make a large change to our $38.50 per share valuation for wide-moat IHS Markit after it posted first-quarter earnings that generally align with our full-year outlook. The firm posted organic revenue growth of 1% against an adjusted EBITDA margin of 38%. We believe the results leave the firm poised to meet our 2017 forecasts, which call for $3.6 billion in revenue, $1.385 billion in adjusted EBITDA (39% adjusted EBITDA margin), and $2.09 in adjusted diluted EPS. This is largely ...
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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