WPP 1Q Results Indicate Progress Toward a Turnaround; Maintaining GBX 1,450 FVE; Shares Undervalued
WPP reported first-quarter net revenue in line with our internal estimate. While weakness remained in the U.S. market, there are indications of improvements including large account wins and no large account losses during the quarter. In addition, WPP reassured the Street that it is progressing toward selling a portion of Kantar, and reports surfacing April 26 support the firm’s statement. Management did not change its 2019 outlook, and we are maintaining our GBX 1,450 per share fair value estima...WPP is a holding company. Through its subsidiaries, Co. is a communications services organization providing national and multinational clients a range of communications services. Co. is organized into four operating segments: Advertising and Media Investment Management; Data Investment Management; Public Relations and Public Affairs; and Branding and Identity, Healthcare and Specialist Communications. This last reportable segment includes WPP Digital and direct, digital, promotional & relationship marketing.
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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