M1’s Downgrades 2016 Guidance Due to Over-the-Top Messaging Service Erosion
M1’s second-quarter 2016 result was slightly below our expectations with services revenue flat year on year, EBITDA down 1.7% and EPS down 7.5% after declining 6.5% in the first quarter. As a result of disappointing earnings year-to-date, management lowered its 2016 guidance for net profit to “single-digit decline†from “stable performance.†We downgrade our near-term earnings forecasts by 4%-5% but make no change to our fair value estimate of SGD 2.70 per share or narrow moat rating driven by c...M1 is a communications company, providing mobile and fixed services to customers. Co. is an operator that provide fourth generation (4G) service, as well as fixed broadband, fixed voice and other services on the Next Generation Nationwide Broadband Network. Co. and its subsidiaries are engaged in the provision of telecommunications services, international call services and fixed services, retail sales of telecommunication equipment and accessories, and customer services. Co. makes available to its mobile and fixed-line customers International Direct Dial services through the 002 and 021 prefixes, as well as a International Calling Card service using prefix 1818.
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.