Iress' FVE Cut to AUD 10.20 as Margins Compress
We have cut our fiscal 2017 earnings forecasts for narrow moat-rated Iress following the downgrade to management earnings guidance. With less than two months remaining in fiscal 2017, we expect guidance to be accurate. Management now expects fiscal 2017 revenue of AUD 435 to 440 million and segment profit of AUD 123 to 128 million on a constant currency basis. This implies only flat profit growth on the prior year and is effectively a downgrade relative guidance for of strong full-year profit gr...IRESS is engaged in the provision of information, trading, compliance, order management, portfolio and wealth management, and lending systems and related tools. Co.'s main clients are financial markets and wealth management participants in Australia, New Zealand, South East Asia, Canada, South Africa and the U.K. Co. provides solutions to clients using three core platforms: IRESS (market information and trading platform), XPLAN (wealth management and advice platform), and Mortgage Sales and Originations (lending automation and processing platform). Core business activities of Co. are carried out within three main divisions being financial markets, wealth management, and enterprise lending.
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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