Telefonica Generates Solid Organic Revenue Growth, Hurt by Fjoreign Exchange; Shares Undervalued
In the first quarter, Telefonica once again reported solid organic revenue growth (+3.8%), but saw this gain negated by currency movements. Thus, reported revenue declined 1.7% year over year. The culprits were primarily the Brazilian real, and the Argentine peso. Our full-year revenue growth projection of 0.7% assumed weaker currencies, but not this much. However, we don’t expect any significant changes to our EUR 13 per local share fair value estimate. Our narrow moat rating remains intact, an...
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.
We have operations in 27 countries.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.