MSCI Inc. (MSCI) is the leader in providing global benchmarks to institutional investors. It released its Q2 and YTD2019 results and updated FY2020 guidance on August 1, 2019. Investors would be wise to refer to my August 9th 'Howard Marks' related article when considering whether to invest in MSCI at current levels. Summary MSCI is [...]
Broadridge Financial Solutions, Inc. (BR) released Q4 and FY2019 results and FY2020 guidance on August 1, 2019. BR's share price has retraced from its late July 2019 level and in this article I look at whether the current valuation based on FY2020 guidance presents a buying opportunity. In my opinion, the current market environment is [...]
Becton, Dickinson and Company (BDX) released Q3 and YTD 2019 results and reiterated FY2019 guidance on August 6, 2019. BDX's share price jumped but in the current environment I envision an impending share price pullback which should provide investors with an opportunity to acquire shares in this high quality company at a more favorable valuation. [...]
In this article I look at Mastercard Incorporated's (MA) current valuation based on guidance provided with the release of Q2 and YTD 2019 results on July 30, 2019. Summary Mastercard is an extremely high quality business with a superior business model that results in significant profits and Free Cash Flow. MA’s growth will come from [...]
This Automatic Data Processing, Inc. (ADP) article analyses Q4 and FY2019 results, FY2020 guidance, and amended FY2021 targets which were released July 31, 2019. Summary ADP should benefit from the evolving and increasingly complex relationship between businesses and their employees, changes in the US tax code, labor regulation and benefit compliance. Investors with a low [...]
McDonald's Corporation (MCD) released Q2 and YTD results on July 26, 2019. I anticipate further improvements from its Growth Strategy which was launched in 2017 and am optimistic in its long-term growth prospects in China where there is ample opportunity to increase penetration in a country of 1.4 billion people. Summary MCD’s top line has [...]
AT&T Inc. released Q2 2019 and YTD 2019 results July 24, 2019. It has generated ~$29B in free cash flow over the last 12 months and full-year free cash flow guidance is now ~$28B. In addition to reducing net debt by ~$6.8B in Q2, T has repaid ~$18B of debt subsequent to the June 2018 [...]
W.W. Grainger, Inc. released Q2 2019 results and FY2019 on July 24, 2019. Despite softer demand and lowered Sales guidance, management has reiterated Gross Profit Margin, Operating Margin, and adjusted diluted EPS guidance. Summary GWW reported Q2 results on July 24th. Gross and Operating Margins and adjusted EPS guidance have been maintained but sales guidance [...]
I view the Canadian National Railway Company (CNR) as a core long-term holding. This article looks at CNR's valuation based on Q2 2019 results released July 23, 2019 and FY2019 guidance provided at the June 3 - 4 2019 Investor Day. Summary I view CNR as the premier Class 1 North American railroad in that [...]
Stanley Black & Decker's (SWK) share price has appreciated over 30% since I recommended acquiring shares in my January 22nd article. With the release of Q2 results and FY2019 guidance I provide my opinion on SWK's current valuation. Summary On July 23rd SWK reported Q2 2019 results in which $2.66 in Non-GAAP EPS beat estimates [...]
