Morningstar | Wesfarmers Goes Ex-Special Dividend and We Adjust Our FVE by AUD 1 to AUD 28. See Updated Analyst Note from 25 Feb 2019
Wide-moat-rated Wesfarmers went ex-special dividend on Feb. 26, 2019, and we adjust our fair value estimate accordingly for the cash leaving the business. At last week’s results, the firm announced a special dividend of AUD 1.00 per share, returning AUD 1,134 million to its shareholders. We lower our fair value estimate to AUD 28 from AUD 29. All our forecasts are unchanged. Wesfarmers’ balance sheet remains conservatively geared following the special distribution, with net debt/EBITDA at 1.4 when adjusting for the group’s operating leases.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.