T-Mobile US Reported Solid 1Q Results; Maintaining $73 FVE; Shares Undervalued
T-Mobile US reported solid first-quarter results and we are maintaining our $73 fair value estimate and no-moat rating. We believe the shares are undervalued. The firm’s reported revenue grew 8.8% year over year versus our full-year projection of 7%. We note that T-Mobile’s revenue growth rates tend to be quite volatile from quarter to quarter, so we aren’t getting too excited for one quarter to be above our full-year estimate. However, we are impressed that the company once again added 1 millio...T-Mobile US provides mobile communications services, including voice, messaging and data, under its brands, T-Mobile and Metro? by T-Mobile, in the United States, Puerto Rico and the United States Virgin Islands. The company provides mobile communications services using its 4G Long-Term Evolution network and its 5G technology network. The company also provides various wireless devices, including handsets, tablets and other mobile communication devices, and accessories for sale, as well as financing through Equipment Installment Plans and leasing through JUMP! On Demand?. The company provides reinsurance for handset insurance policies and extended warranty contracts offered to its mobile communications customers.
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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