Morgan Sindall - Secular Growth Trends
Published: 13:58 06 Dec 2017 GMT
Morgan Sindall (LON:MGNS) operates in construction and regeneration, with activities in partnership housing, UK infrastructure, office fit out, and general construction. Morgan Sindall (LON:MGNS) operates through six divisions: Construction & Infrastructure, Fit Out, Property Services, Partnership Housing, Urban Regeneration, and Investments.
Executive summary
Given the strong, balance sheet, continued earnings growth, and healthy dividend payout, we argue that the current P/E valuation of 12.1x 2017e represents a modest valuation.
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