Suez Releases 2018 Results and 2019 Guidance in Line With Expectations; Shares Fairly Valued
Suez released 2018 results and 2019 guidance in line with expectations and set its dividend at EUR 0.65 per share. We maintain our EUR 11.50 fair value estimate and no-moat, stable trend rating. We believe the shares are fairly valued.Revenue was EUR 17.3 billion, roughly in line with our estimates; this implies organic growth of 3.6%, slowing from 3.8% in the first nine months. EBIT came in at EUR 1.335 billion, slightly below our EUR 1.35 billion estimate, growing 7.5% organically, in line wi...
Suez is active in each stage of the water and waste cycles. Co. is organized around three main segments: Water Europe (water distribution and treatment services, particularly under concession contracts, to individuals, local authorities and industrial clients); Waste Europe (waste collection and treatment services for local authorities and industrial clients; these services include collection, sorting, recycling, composting, energy recovery and landfilling for both non-hazardous and hazardous waste) and International (water, waste and engineering services, with a special focus on risk-management resulting from specific local environments by setting up partnerships).
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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