Vodafone Reports Slightly Weak 3Q Revenue; Maintaining GBX 250 FVE; Shares Undervalued
Vodafone reported fiscal third-quarter revenue that was a bit light of our expectations, but we are maintaining our GBX 250 per local share fair value estimate and narrow moat rating. We believe the shares are significantly undervalued. The firm reported that revenue declined 6.8% year over year versus our full-year projection of a 5.1% drop. The firm continues to be hurt by currency movements, particularly the Turkish lira. In local currency terms, Vodafone’s Turkish business did very well, gro...Vodafone Group provides mobile and fixed telecommunication services including: access charges, voice and video calls, messaging, interconnect fees, fixed and mobile broadband and related services such as providing televisual and music content, connection fees and equipment sales. Co. provides a range of consumer products and services including mobile, fixed voice, broadband and television, financial as well as other services to operators outside its footprint. Co. also provides a range of enterprise products and services including total communications such as mobile, fixed and a suite of converged communications services, internet of things, cloud and hosting and carrier 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.
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