Headwinds Continue in Q1, but Thesis Remains Intact for Sodexo
Narrow-moat Sodexo’s first-quarter revenue is in line with our full-year forecasts, as the continued impact from weakness in energy sectors and the high comparable of the Rugby World Cup last year led to organic revenue growth of negative 1.5% year over year. We maintain our full-year estimates and believe the company will deliver organic revenue growth of 3% in 2017. We increase our fair value estimate from EUR 102 to EUR 110 considering the time value of money, indicating modest upside potenti...Sodexo is a services company which partners with companies, institutions and local authorities. Co. designs, manages and delivers Quality of Life services. Co.'s offers are: On-Site Service Solutions (Co.'s services are: Corporate, Defense, Justice Services, Remote sites, Health Care, Seniors, Education and Sports and Leisure), Benefits and Rewards Services Solutions (Co.'s offers focus on the following services: recruit and retain employees and increase their motivation; mobilize teams around quantitative or qualitative objectives; ensure delivery of Public Benefits), and Personal and Home Services (services in childcare; tutoring and adult education; concierge services and senior care).
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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