Wide-moat Mead Johnson’s short-term woes do not change its attractive long-term outlook.
We do not expect to make a large change to our $87 per share fair value estimate for wide-moat Mead Johnson after its second-quarter earnings announcement. The firm posted a 9% sales decline, with its year-to-date 10% pullback outpacing our 5.4% target. We plan to cut our 2016 top-line growth estimate by 150-200 basis points, offset by a higher-than-expected gross margin and tax savings to leave our $3.48 per share full-year adjusted EPS forecast largely unchanged (with both measures near the lo...
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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