First-quarter revenue grew 1% year over year, with strength in most key markets and distribution channels.
We will likely raise our $44 fair value estimate slightly, but shares still look fairly valued today.
Shares of this narrow-moat company are trading at a discount to our fair value estimate.
Despite posting fine second-quarter results, the narrow-moat beer- and wine-maker will enjoy above-industry volume gains, but at a slowing rate.
Cost-cutting remains a focus amid continued slowing growth, but the sector is overvalued on the whole.
The narrow-moat firm's shares now trade at a substantial discount to our fair value estimate, due in part to recent market share challenges in its craft beer and cider portfolios.
Productivity has been a primary driver of margin expansion at the wide-moat beverage-maker, and we expect it, along with continued pricing strength, to drive margin improvement for the next few years.
Volume slowed in Coke’s second quarter, but we still think the firm can grow over the long-term and are sticking with our fair value estimate.
With limited revenue growth and margin expansion opportunities, a narrow moat still can't justify the stock price.
Growth of sports drinks and bottled water plus smaller package sizes will help offset declines in soda consumption in the U.S., says Morningstar's Adam Fleck.
First-quarter revenue growth for the wide-moat beverage maker trailed our full-year estimates, but we expect growth to increase later in the year, writes Morningstar's Adam Fleck.
Cost-savings programs, improved pricing, and bottling divestitures should drive near- and long-term margin expansion at wide-moat Coke, writes Morningstar’s Adam Fleck.
Coke’s third-quarter was marked by positive pricing trends, encouraging volume expansion and solid profitability, but its shares are fairly valued, writes Morningstar’s Adam Fleck.
The beverage behemoth continues to capitalize on its already-strong share position and sizable distribution network even as a strong dollar weighs on reported results, writes Morningstar analyst Adam Fleck.
Positive net pricing drove nearly the entirety of the firm's 5% second-quarter organic revenue growth year over year, while volume growth slowed to a halt.
As consumer spending slows, investors should focus on companies that enjoy strong brand intangible assets or sustainable cost advantages.
The narrow-moat brewer will continue to benefit from the ongoing craft-beer revolution, but the stock's current valuation is heady.
Growth is likely to slow later in the year, but we believe continued productivity enhancements and growth opportunities should support high-single-digit earnings growth over the long run.
The craft beer revolution continues, but we expect heightened competition to slow growth rates.
Brand image, North American still-beverage growth, and emerging-market carbonated-beverage growth support Coca-Cola's wide moat.
Coke delivered a solid quarter, but our long term-assumptions for the firm remain in place, writes Morningstar‘s Adam Fleck.
Strong brands and cost advantages are key in the current global consumer spending environment.
We believe in Coca-Cola's long-term earnings growth potential, but we plan to lower our fair value estimate after a tough third-quarter.
Improved volume and pricing has helped Coke grow operating income despite currency and other headwinds, says Morningstar’s Adam Fleck.
With roughly two thirds of this sector enjoying a narrow or wide economic moat, we continue to find pockets of opportunity when short-term concerns outweigh our forecasted long-term growth trajectories.
Steady U.S. retail spending and rebounding European and Chinese sales offer decent end-market outlooks for consumer cyclical companies, but the larger retail spending environment remains uncertain around the world.
Coke offers a better margin of safety, better international opportunities, and exemplary stewardship compared with its chief competitor.
We think the market is too focused on near-term farm equipment headwinds and not enough on a cyclical European trucking upturn.
Following Cat's fourth-quarter results, in line with our forecast, our fair value estimate remains $94.
Company announces unchanged operating guidance, plan to return cash to shareholders.
Although ag machinery manufacturers may reap weaker 2014 results, we think Deere's narrow moat is intact.
Slowing global industrial activity presents compelling long-term investment opportunities among a handful of companies.
After several strong years of U.S. and Canadian machinery purchases, growth rates look to slow.
Long-term constraints vary among soil, fertilizers, water, seeds, and equipment.
The near-term picture is cloudy, but we still believe the long-term picture for mining equipment manufacturers looks solid.
Despite slowing growth, shares of the industrial giant look cheap, says Morningstar's Adam Fleck.
Valuations climbed in the third quarter amid a steady, though still weak, end market backdrop.
The U.S. is still a solid growth market for industrial companies.
The construction equipment maker builds a solid foundation to tear down debt levels.
The industrial sector continues to enjoy decent U.S. growth, but slowing in China and Europe is a near-term concern.
They may be strong and stable in the near term, but we have longer-range concerns.
Morningstar's Adam Fleck notes that quarterly declines seen in 3M's display and graphics and electronics units have tended to lead weakness in the other segments in the past.
The improving construction picture in North America will likely lead to climbing U.S. volume for the year, says Morningstar's Adam Fleck.
This canary in the economic coal mine has proved it can stay profitable in a recession.
The Bucyrus and EMD acquisitions weigh on operating profitability in 3Q, but we think both acquisitions will add materially to the bottom line over the coming quarters.
Turbulent weather, market present a long-term opportunity to buy into farm OEMs.
We examine 3M's key divisions and potential leading indicators.
We expect higher incremental margins from here, driven by Cat's solid cost focus and continued volume increases, but it seems the recovery will prove lumpy.
We are likely to increase our fair value estimate for the firm, but we may also raise its uncertainty rating.
We expect continued positive price action to further offset input cost pressure.