Improved profitability in North America is the key to long-term earnings growth for Sims.
Following a transfer in analyst coverage, we have reviewed our earnings estimates for Sims Metal Management. We make minor changes to our fiscal 2017 and 2018 estimates, downgrading EPS by 4% and 3%, respectively, reflecting updated scrap metal price and currency assumptions. The scrap price is highly correlated to the iron ore price (scrap is a competing feedstock to iron ore in steel production) and our long-term USD 30 per tonne iron ore price estimate reflects our bearish view on Chinese ste...Sims Metal Management buys, processes and sells ferrous and non-ferrous recycled metals and provides environmentally responsible solutions for the disposal of post-consumer electronic products, including information technology assets recycled for commercial customers. Co.'s product groups are: ferrous secondary recycling, which collects, processes and trades iron and steel secondary raw material; non-ferrous secondary recycling, which collects, processes and trades other metal alloys and residues; recycling solutions, which disposes post-consumer electronic products; and secondary processing and other services, which focuses on melting, refining and ingoting of certain non-ferrous metals.
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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