Fair Value Estimate Upgraded 6% to AUD 9.00 Following a Deeper Dive into Earnings Drivers
We will be releasing a mining services special report that includes a deeper dive into the broad categories of earnings driver for the sector. We are increasing our fair value estimate for Monadelphous by 6% to AUD 9.00 per share because of the favourable impact of public infrastructure spending on the engineering construction segment, which generated over 70% of fiscal 2016 EBITDA. A more sanguine outlook for the mining segment is an added help via the maintenance and servicing.Our model divid...
Monadelphous Group provides construction, maintenance and industrial services to the resources, energy and infrastructure sectors. Co. has two operating divisions working predominately in Australia, with overseas operations in New Zealand, China, Papua New Guinea, Mongolia and the U.S. The Engineering Construction division provides large-scale multidisciplinary project management and construction services. The Maintenance and Industrial Services division focuses on the planning, management and execution of mechanical and electrical maintenance services, front-end scoping, shutdowns, fixed plant maintenance services, access solutions, mine dewatering services and sustaining capital works.
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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