Another Difficult Quarter, Yet Kuehne + Nagel Delivers a Resilient Performance
Kuehne + Nagel's third-quarter update showed a resilient performance in the face of relatively unsupportive markets, particularly in seafreight, where shipping rates have continued to fall in 2016. We do not expect to change our full-year forecasts and hence reiterate our CHF 127 fair value estimate and our narrow moat rating. We believe the stock is fairly valued based on the prevailing share price.Relatively anaemic volume growth, combined with historically low freight rates, have caused turm...
Kuehne & Nagel International is a holding company, engaged in providing logistics solutions. Co.'s business units comprised of: Seafreight, Airfreight, Overland, and Contract logistics. Co. operates on a worldwide basis in the following geographical areas: Europe, Americas, Asia-Pacific and Middle East, Central Asia and Africa. Within its Seafreight, Airfreight and Overland business units, Co. is engaged in purchasing transportation services from direct (asset-based) carriers and selling a combination of those services to its customers. Co. also develops solutions for the construction, renovation and operation of hotel chains and casinos all over the world.
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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