UPS Delivers Strong Second-Quarter Volumes All Around, at High Margins
We increased our fair value estimate for shares of wide-moat UPS by a buck following its second-quarter report of strong volume, pricing, and execution. This was due to the time value of money since our early June update, and given our fair value estimate is now $116, shares look slightly undervalued. This quarter, the firm grew revenue 8% and EPS 11%. B2C again outpaced B2B by expanding volume at a sharp low teens percentage rate versus just low-single-digit expansion for B2B. The firm deftly h...United Parcel Service provides transportation services, primarily domestic and international letter and package delivery. The company reports its operations in three segments: United States Domestic Package, which includes the time-definite delivery of letters, documents and packages throughout the United States; International Package, which includes delivery to several countries and territories worldwide, including shipments wholly outside the United States, as well as shipments with either origin or destination outside the United States; and Supply Chain & Freight, which includes the company's Forwarding, Logistics, Coyote, Marken, UPS Mail Innovations, UPS Freight and other aggregated business units.
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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