Worldpay Starts Fresh in 2018
Worldpay has reported net income for 2017, just a few short weeks after the closing of the Vantiv-Worldpay merger. The new company also provided guidance for 2018. Both the results and the forward-looking commentary were consistent with our view of the narrow-moat company, and we do not expect to alter our $67 fair value estimate, which represents 18 times the midpoint of management’s 2018 adjusted earnings per share guidance.At legacy Vantiv, net revenue expanded by 11% during the year, driven...
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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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