Competition and NBN Hit Telstra in First Half but Our Long-Term Thesis Intact
We maintain our AUD 6.00 fair value estimate on narrow moat-rated Telstra, despite its disappointing fiscal 2017 first-half result. The 1.7% lift in underlying EBITDA to AUD 5,361 million was below expectations, while "continuing" net profit after tax, or NPAT, fell 11.8% to $1,785 million.Increasing competition and the accelerating rollout of the National Broadband Network, or NBN, had a pronounced impact during the half, at a time when Telstra is still gearing up to "fighting weight." The rec...
Telstra is engaged in providing telecommunications and information services for domestic and international customers. Co.'s operating segments are Telstra Retail, Global Enterprise and Services, Telstra Operations, and Telstra Wholesale. As of June 30 2016, Co. provided retail fixed data services to 3.4 million customers, retail fixed voice services to 5.7 million and domestic retail mobile services to 17.2 million 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.
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.