Report
Zain Akbari, CFA
EUR 101.80 For Business Accounts Only

Short-term publishing challenges should yield to solutions-driven growth as Wiley transitions.

We do not plan a large change to our $57 fair value estimate for wide-moat John Wiley after the firm posted third-quarter results. The top line is lagging our expectations year to date, with the firm posting a 2% dip versus our forecast of a 2% increase for 2017, though its 13.2% adjusted operating margin thus far matches our full-year mark. We expect to temper our short-term outlook, but the results should not lead us to alter our long-term targets (2% average annual revenue growth and operatin...
Underlying
John Wiley & Sons Inc. Class A

John Wiley & Sons is a global research and learning company. Co. has three segments: Research segment, which provides scientific, technical, medical, and scholarly journals, as well as related content and services to libraries and individual researchers, among others; Publishing, which provides scientific, professional, and education books and related content in print and digital formats, test preparation services and course workflow tools, to libraries, corporations, students, professionals, and researchers; and Solutions, which provides online program management services for higher education institutions and learning, development, and assessment services for businesses and professionals.

Provider
Morningstar
Morningstar

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.

Analysts
Zain Akbari, CFA

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