Molson Coors’ Volumes Falter as Competition in U.S. Beer Market Remains Heightened
After evaluating narrow-moat Molson Coors’ fourth-quarter results, which included 2.4% constant-currency sales growth and gross margin above 41% (expanding about 200 basis points over last year’s pro forma results), we expect to maintain our long-term outlook for the firm, which calls for average sales growth around 2% and average gross margin above 43% over our forecast. We plan to incorporate adjustments for the time value of money and U.S. corporate tax reform (which should bring the firm’s t...
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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