Verizon Reported Improved 4Q Results; Raising Our FVE to $52, Shares Fairly Valued
Verizon reported much-improved fourth-quarter results, and we are increasing our fair value estimate to $52 per share from $50. We retain our narrow moat rating and view the shares as fairly valued. The firm reported year-over-year revenue growth of 5% for the quarter, which allowed full-year revenue to be flat versus our estimate of a 1.4% decline. However, much of the revenue growth was due to acquisitions. On an organic basis, revenue fell about 2% for the year. Verizon added 1.2 million reta...
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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