Virtus Delivers a Good 1H18 Result and Remains on Track for FY18, but FVE Cut to AUD 6.20
No-moat Virtus Health reported a good first-half fiscal 2018 result in line with our expectations on an aggregate basis. With underlying NPAT of AUD 17.4 million and group revenue of AUD 133.8 million, up 18% and 1.8%, respectively, the company remains on track to meet our full-year forecasts. Although our earnings forecasts remain unchanged, we trim our fair value estimate to AUD 6.20 per share, from AUD 6.50 previously, after incorporating guidance for effective tax of 30% and capital expendit...
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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