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Morningstar runs the numbers

Lex Hall  |  23 Sep 2019Text size  Decrease  Increase  |  
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We take a numerical look through this week's Morningstar research. Plus, our most popular articles and videos for the week ended 20 September.

22 per cent

The amount by which payments platform Square is overvalued, according to Morningstar equity analyst Brett Horn. A more sobre take compared to that of ARK Invest’s chief investment officer Catherine Wood. Square and other fintechs are poised to eat the lunch of the big banks in Wood’s view. “We think that what is going to happen to banks is what is going to happen to the retail sector thanks to Amazon and other online players,” Wood says, citing the online behemoth whose delivery system has revolutionised retail and forced the widespread closure of bricks-and-mortar stores.

75 per cent

The number of people interested in sustainable investing, according to a Morgan Stanley report quoted by Jon Hale, head of sustainability research for Morningstar. It's easier than ever to invest sustainably, Hale says. If you have a financial adviser, do not hesitate to ask him or her about it. With many more advisors now getting up to speed on the field, yours may be one of them. If not, it's easy to find an adviser who would be happy to discuss it with you.

5

The number of Aussie stocks Morningstar’s Glenn Freeman tips to deliver solid dividend. Retail-centric global listed real estate company Unibail-Rodamco-Westfield (ASX: URW) tops the list, which Freeman generated using Morningstar’s share screener to determine which stocks have the best dividend outlook into fiscal 2020. The other companies span childcare, financials, listed property and fuel retailing. Check out the list here.

25 basis points

The Fed’s rate cut last week was conspicuous for the divergent opinions it revealed within the US central bank, notes Morningstar’s Eric Compton. At the conclusion of its September meeting, the Federal Open Market Committee voted to decrease its target rate range to 1.75 per cent to 2 per cent from 2 per cent 2.25 per cent. The much anticipated Fed dot plot showed seven members favour one additional cut this year, five prefer keeping rates as-is, and five think rates would be more appropriate in the 2 per cent to 2.25 per cent range (at least three of these voters are non-voting).

$1.70

The fair value estimate for Cleanaway Waste Management set by Morningstar equity analyst Grant Slade. The commercial garbo is overvalued by about 20 per cent, says Slade who began coverage of the company last week. He likes the company’s allocation strategy and some of its acquisitions but remains concerned about the competition from the big hitters in the world of waste, Veolia and Suez. They have a tight grip on the landfill licences, which is a crucial advantage.

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is content editor for Morningstar Australia

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