WorleyParsons Points to Continued Improvement in Market Conditions Driving Revenue Growth
In October 2018, we upgraded our fair value estimate for no-moat WorleyParsons by 43% to AUD 9 per share. This assumes an announced AUD 4.6 billion purchase of chemicals and resources engineer Jacobs ECR goes ahead. The combination will double Worley’s earnings and create a global leader in professional project and asset services in resources and energy. It will also generate cost savings of AUD 130 million per annum, which we credit in our valuation.Our FVE has limited downside risk. AUD 3.75 ...
WorleyParsons is a services provider to the resources, energy and industrial sectors. Co. has four business lines of Services, Major Projects, Improve and Advisian and three customer sectors, each of which is focused on customers involved in the following activities: Hydrocarbons, which includes the extraction and processing of oil and gas; Minerals, Metals and Chemicals, which includes the extraction and processing of mineral resources and the manufacture of chemicals; Infrastructure, which includes projects related to water, the environment, transport, ports and site remediation and decommissioning, and all forms of power generation, transmission and distribution.
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.
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