Veolia to Continue Delivering Solid Earnings and Dividend Growth Despite Likely Top-Line Slowdown
We reiterate our EUR 19.60 fair value estimate and no-moat, stable trend ratings for Veolia after the company released full-year results and adjusted 2019 EBITDA guidance both in line with expectations. The group increased its 2018 dividend by 10% to EUR 0.92, above our EUR 0.89 forecast, implying a dividend yield of 4.7%, slightly below the 5.1% sector average. The shares look fairly valued to us.Revenue came in at EUR 25.9 billion, up 4.7% organically, in line with the trend of the first nine...
Veolia Environnement provides environmental management services to public authorities, industrial and commercial services customers, and individuals worldwide. These services include the supply of water, the treatment and recovery of municipal or industrial effluent, waste collection, processing and recycling, the supply of heating and cooling services and the optimization of industrial processes. Co.'s business operations are conducted through three divisions, each specializing in a single business sector: Veolia Eau (Water), Veolia Energie (Dalkia, Energy Services) and Veolia Proprete (Environmental Services).
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.
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