Shares in InvoCare Remain Undervalued Despite Near-Term Earnings Weakness
Despite InvoCare’s share price rising by almost 20% during the past month, the stock continues to trade at a meaningful discount to our AUD 16.00 per share fair value estimate. The company has faced several challenges and concerns during the past year including: (1) lower death rates; (2) the temporary closure of a significant portion of the funeral homes; and (3) strong competition from rival Propel Funeral Partners. We don’t think any of these issues are insurmountable, and for the most part a...Invocare is a provider of services in the funeral industry in Australia, New Zealand and Singapore with smaller operations in Hong Kong and the U.S. Through its associate, Co. provides online memorial services to allow families and communities to celebrate the life of a loved one.
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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