Implications of Southern Cross Media's Strong Stock Price
After reaching its recent peak in September 2016, shares in Southern Cross Media have since drifted 16% (dividend-adjusted). While this is still 15% above our unchanged AUD 1.20 fair value estimate, we appreciate the group's near-term appeal, given the recent strong, impairment-less fiscal 2016 result (a rare occurrence in traditional media these days) and the resilience of its assets.This strong stock price has implications, with a potential relaxation of media ownership laws bubbling in the b...
Southern Cross Media Group is engaged in the creation and broadcasting of content on free-to-air commercial radio (AM, FM and digital), television and online media platforms across Australia.
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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