Millicom Reports Encouraging Q1 Results; Shares Remain Significantly Undervalued
We are encouraged by Millicom’s first-quarter results and continue to believe the shares are significantly undervalued. However, just as we’ve previously stated that the firm’s quarterly results were being hit badly by negative currency movements, this quarter benefited from positive currency movements, making the initial results look better than reality. Reported revenue grew 0.4% year over year, but adjusting for currency and acquisitions, it declined 2.2%, versus our full-year projection of a...
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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