Brand investment and efficiencies should boost Snyder’s-Lance’s performance, but competition lurks.
We have a more tempered reaction to no-moat Snyder’s-Lance’s third-quarter earnings than prevailing sentiment and are unlikely to make a large change to our $35.50 per share valuation. Our full-year marks ($2.23 billion in revenue, $313 million in adjusted EBITDA, and $1.14 adjusted diluted EPS) were below the most optimistic estimates and are consistent with revised guidance, calling for $2.205 billion to $2.255 billion in revenue, $305 million to $320 million in adjusted EBITDA, and $1.12 to $...
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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