Strong Helicopter Order Growth and Deliveries in 1Q; Shares Still Undervalued
After publication of first-quarter 2018 results, we maintain our EUR 12 fair value estimate and no-moat rating for Leonardo. The company recorded good revenue (up 380 basis points year on year), mainly due to increased new helicopter deliveries. In the quarter, 29 helicopters, mainly higher-margin AW139s, were delivered to the end customer, compared with 12 in first-quarter 2017. Leonardo’s EBITA margin in the quarter declined 130 basis points as strong profitability gains in helicopters (EBITA...
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.