Lord of the Rings Brings Good News, Not So Much Foxtel; FVE Cut 4% to USD 15.30
We cut our fair value estimate on News Corporation by 4% to USD 15.30 (or AUD 20.50) per share. While the Foxtel-boosted 49% lift in fiscal 2018 fourth-quarter normalised EBITDA to USD 327 million met our expectations, it masked some compositional weaknesses.The halving of Foxtel's EBITDA to USD 76 million (versus our forecast of USD 104 million) is disappointing, given News has just upped its interest from 50% to 65% with the pay TV operator's result now consolidated in News' accounts. Pressur...
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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