Makita Revised Its Full-Year Guidance Up on Strong Power Tool Demand; Increasing FVE to JPY 4,500
Narrow-moat Makita’s third-quarter results were ahead of our full-year forecast, with sales and operating margin expanding 17% and 4 percentage points year over year, respectively, driven by the increase of housing investment in Europe, Japan, and North America. The firm raised its full-year operating income guidance by 8%, which is 5% higher than our previous forecast. Despite this, assuming flat sequential sales growth in the following quarter, the number still looks conservative. We raise our...
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.
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