Wesfarmers Beats Consensus, but Declining Margins at Coles Reinforce Our Caution on Supermarkets
Narrow-moat-rated Wesfarmers exceeded expectations, reporting net profit after tax, or NPAT, of AUD 1,577 million for the first half of fiscal 2017, up by 13.2%. This was 4.4% ahead of consensus of AUD 1,510 million. We have increased our fiscal 2017 EPS estimate by 3%, but our long-term forecasts are largely unchanged. Our fair value estimate of AUD 39 per share is intact, with shares trading at an 11% premium to our intrinsic assessment at current prices.The standouts were Bunnings in Austral...
Wesfarmers is engaged in the retailing operations including supermarkets, merchandise and department stores, fuel, liquor and convenience outlets; retailing of home improvement and outdoor living products and supply of building materials; retailing of office and technology products; coal mining and production; gas processing and distribution; industrial and safety product distribution; and chemicals and fertilisers manufacture; and investments. Co.'s retail operations includes Coles, which operates Coles Supermarkets, Coles Express, Liquorland, Vintage Cellars, First Choice Liquor, and Spirit Hotels, among others; while its departmental operations include Kmart and Target retailers.
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.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.