Metso Sees Continued Strong Orders in FY 2018 While Cash Flow Slightly Down; Shares Fairly Valued
We are maintaining our no-moat rating and EUR 27 fair value estimate for Metso. Shares look fairly valued. The company reported full-year 2018 revenue slightly ahead of expectations but with slightly lower-than-expected margins, which are still moderately below the previous peak in 2016. In its outlook statement, management guided for continued growth in the next six months for equipment and services.Free cash flow in the quarter was down 8% for full-year 2018, both on a year-over-year basis as...
Metso is a global services, products and systems provider. Co. serves its customers in mining, oil and gas as well as aggregates industries. Co. serves also some other process industries, such as pulp and paper industry. Co.'s offerings to the mining industry include grinding mills, mill linings and grinding media; as well as crushers and screens. Co.'s offerings to the aggregates industry include crushers; as well as screens, feeders and conveyors. Co.'s offerings to the oil and gas industry include control valves, on-off valves; intelligent safety valves; intelligent valve controllers and limit switches; intelligent field services; spare and wear parts; as well as performance services.
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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