Southern Cross Media Improving Front of House while Cleaning the Back
We maintain our AUD 1.20 fair value estimate on no-moat-rated Southern Cross Media, following its in line fiscal 2017 first-half result. The 4% lift in normalised EBITDA to AUD 92.6 million was as previously flagged, and the 18% increase in normalised NPAT to AUD 48.5 million broadly met our expectations.Even the slight downgrade towards the low end of the previous full-year fiscal 2017 EBITDA guidance was a non-event from our perspective. After all, whether the group makes EBITDA of AUD 177 mi...
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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