Ryman’s Long Game Positions It for Market Share Gains. FVE Raised to NZD 11.30
Narrow-moat-rated Ryman Healthcare’s fiscal 2108 earnings growth of 14.2% to NZD 40.7 cents per share was 1% above our forecasts. Compositionally, Ryman’s performance was a beat, as more earnings came from reselling units, countering a temporary decline of 24% in the number of new units developed. We’ve raised our fair value estimate by 13% to NZD 11.30 mainly on raised expectations for long-term profits from reselling independent units and serviced apartments, which represent 53% of fiscal 2018...Ryman Healthcare develops, owns and operates integrated retirement villages, resthomes and hospitals for the elderly within New Zealand and Australia.
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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