Thorn Group’s FY17 Result In Line but Near-Term Outlook Looks Subdued. FVE Cut to AUD 1.65
Our fair value estimate for no-moat-rated Thorn Group is lowered to AUD 1.65 per share from AUD 1.80 following the fiscal 2017 result. While the result was in line with our forecast and within the guidance range, management’s commentary on the near-term outlook was more subdued than we expected. At current levels, the shares are undervalued. We remain reasonably positive on the long-term earnings outlook. The business is now much leaner and focused on the core businesses following restructuring,...Thorn Group is a financial service provider. Co. has four reportable segments: Consumer Leasing, which leases household products; Business Finance, which provides financial products to small and medium enterprises including equipment leasing, trade finance and invoice discounting; Receivables Management, which provides receivables management, debt recovery, credit information services, debt purchasing and other financial services; and Consumer Finance, which provides personal loans.
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.