Publicis Posts Weak Third-Quarter Organic Growth Due to Headwinds From Mediapalooza
Publicis Groupe reported its third-quarter 2016 revenue update, with results coming in slightly below our projections. More importantly, organic growth of 0.2% was well below management’s conservative guidance (below 3%) for 2016, and at 1.9% year to date, the firm is running well below its peers. As a result of the modest revenue miss, we have slightly lowered our estimates for 2016 but are maintaining our narrow economic moat rating and our fair value estimate of EUR 61. With the shares tradin...Publicis is holding company. Through its subsidiaries, Co. is engaged in marketing, communication and digital transformation. Co. designs a customized package of services to meet each client's particular needs through a holistic and global approach. In addition, Co. provides financial markets with information concerning the relative size of each of the different business sectors for the sole purpose of allowing sector comparisons. Co.'s principal activities comprise four main categories: Digital, Advertising, Specialized Agencies and Marketing Services (SAMS) and Media.
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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