QuintilesIMS' 2Q Tracks Expectations; Shares Fairly Valued
Steady second-quarter results for QuintilesIMS tracked our full-year expectations. We are slightly raising our fair value estimate for the wide-moat firm to $91 per share from $88 to reflect continued share repurchases and our updated outlook for capital expenditures and depreciation levels over our 10-year forecast period. Management reaffirmed its sales guidance of $8 billion-$8.1 billion and updated its adjusted earnings per share expectations to $4.50-$4.65 per share from $4.45-$4.60 thanks ...
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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