Sky Reported Solid First Fiscal Half Results; Maintaining FVE, Shares Fairly Valued
Sky reported solid first fiscal half revenue, and we are maintaining our fair value estimate of GBX 1,050 per local share. Our narrow moat rating is unchanged, and we view shares as fairly valued. The firm reported revenue growth of 4.6%, in line with our projection of 4.7%. Sky’s revenue growth would have been 6% without the euro strengthening against the British pound, hurting revenue from Germany and Italy when translated into the weaker pound.In its core market of the U.K. and Ireland, Sky ...
Sky is an entertainment and communications company, engaged in the operation of pay television broadcasting and home communications services, including the provision of broadband and telephone operations. Co. operates in three segments: UK and Ireland, which is involved in the activities and operations of the pay TV, home communications, mobile and adjacent businesses; Germany and Austria, which is involved in the activities and operations of the pay TV and adjacent businesses; and Italy, which is involved in the activities and operations of the pay TV and adjacent businesses. Co. provides entertainment from live sporting events, drama, U.S. and local shows and blockbuster movies.
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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