Orange Reports In-Line 1Q as It Benefits From Movement to Convergence, Fibre, and 4G
Orange reported first-quarter sales and EBITDA that were generally in line with our expectations, and we are maintaining our fair value estimate in euros but will likely increase our fair value estimate for the ADR due to the recent rebound in the euro versus the dollar. We are also keeping our narrow moat rating. We believe the shares are undervalued.The firm reported revenue grew 0.7% versus our full-year estimate of 0.6%. We are very pleased that Orange’s growth is being driven by the key fa...
Orange provides consumers, businesses and other telecommunications operators with a wide range of services including fixed telephony and mobile telecommunications, data transmission, Internet and multimedia, and other services. Co.'s portfolio comprises business lines (fixed-line, mobile, Internet), focusing on all customer segments (small and medium-sized businesses, multinationals), and personal and professional services for home, office, travel, and mobile. Co. manages eight operating segments: France, Poland, Spain, Rest of the Europe, Africa and Middle East, Other non-controlling equity interests, Enterprise Communication Services, and International Carriers and Shared 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.
We have operations in 27 countries.
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