81.90 0.00 (0.00%)
After hours: 4:53PM EDT
|Bid||81.81 x 800|
|Ask||81.82 x 800|
|Day's Range||80.41 - 81.96|
|52 Week Range||52.15 - 85.50|
|Beta (3Y Monthly)||1.29|
|PE Ratio (TTM)||48.52|
|Earnings Date||Oct 21, 2019 - Oct 25, 2019|
|Forward Dividend & Yield||0.30 (0.37%)|
|1y Target Est||85.14|
The healthcare industry generally is not top of mind when there are news reports about inverted yield curves and other economic indicators. One in four patients said news of a weakening economy prompts them to leverage their existing health insurance for a checkup or other medical treatment they may have been putting off. “Consumerism is here to stay in the healthcare industry.
(Bloomberg Opinion) -- Any financing that’s secured by collateral — steel mills, textile factories, power plants, roads or land — is in trouble in India. A multiyear investment slowdown has decimated credit quality. Now, the problem is spreading. The near-recession in the consumer economy means unsecured lending could be the next domino to fall. With business collateral losing its sheen, India’s top three private-sector banks have been expanding their credit card and personal loan business at 30%-plus rates, double the pace of growth in their corporate loan book. They can’t keep up for long. If they try, they would only be storing trouble for the future. Why? For one thing, the quality of the next borrower is suspect. About 20% of all active credit-card customers in India are in the highest category of creditworthiness, according to TransUnion Cibil, which assigns scores. But among those who signed up last year, only 3% belonged to this least risky group, an analysis by Sanford C. Bernstein & Co. shows. The next person to apply for and get a credit card in India is more likely to be subprime. A surge in lower-quality customers would raise credit costs. It will be a double whammy when banks have to provide for bad loans after paying for costlier term deposits. And that’s linked to the consumption slowdown, because of what Bernstein analyst Gautam Chhugani calls the sheer “exhaustion of household savings in the large metropolitan cities.” This is a true showstopper. Unlike their state-run cousins, HDFC Bank Ltd., ICICI Bank Ltd. and Axis Bank Ltd. are more city-centered lenders. Right up to March 2016, the trio enjoyed steady annual savings deposit growth in the range of 17%-18%. Then, in November that year, came the draconian Indian currency note ban. Their deposits swelled as people returned the 86% of the currency that was no longer legal tender.But the top three banks’ savings deposit growth has since slipped to 10%, while for all lenders the figure has plunged to as low as 6% in metropolitan areas. Urban Indian consumers have reached into their nest eggs to battle sudden job losses, poor pay increases and a $15 billion wealth shock from apartments that they’ve paid for but were never built because developers ran out of money.Having lowered their savings rate to 22% of disposable income last year from 29% in 2012, consumers are shopped out, as evidenced by the 41% fall in August car sales, the biggest drop on record. Not only is the slump bad news for vehicle finance, but the depressed consumer sentiment is a Catch-22 for unsecured lending. As Bernstein analysts explain, 35% of HDFC Bank’s earnings growth comes from credit cards and personal loans. If the bank goes down to smaller cities and towns in search of the next borrower, it will be competing for the typical micro-finance customer. And this type of subprime borrower could already be in significant debt. Bandhan Bank Ltd., a small-loans specialist, has of late been making advances with an average ticket size of 64,000 rupees, ($890) compared with under 40,000 rupees on its outstanding micro loans. Not wanting to go down this path will present the other challenge — of not being able to earn a decent margin on costlier term deposits. Either way, the prognosis for bank shareholders isn’t bright. A bigger worry is the macroeconomic impact of big private-sector banks stepping off the gas. Stricter standards could worsen India’s consumption slowdown by making unsecured credit harder to come by.Sooner or later, stretched household finances will affect mortgage demand. That won’t help with India’s plan to get buyers back into the real estate market with deep interest-rate cuts.Mind, there’s no sign of a subprime crisis. At least, not yet. But prime borrowers are few in a country where just 27% of the women aged above 30 are in the workforce, unemployment is at a 45-year high of 6.1%, barely 23% of workers earn a regular wage, and only three out of the 10 who enjoy a steady salary have proper job contracts.Unsecured loans can only offer banks a temporary shelter during a downturn in collateralized credit. That protection doesn’t last long. To contact the author of this story: Andy Mukherjee at firstname.lastname@example.orgTo contact the editor responsible for this story: Patrick McDowell at email@example.comThis column does not necessarily reflect the opinion of the editorial board or Bloomberg LP and its owners.Andy Mukherjee is a Bloomberg Opinion columnist covering industrial companies and financial services. He previously was a columnist for Reuters Breakingviews. He has also worked for the Straits Times, ET NOW and Bloomberg News.For more articles like this, please visit us at bloomberg.com/opinion©2019 Bloomberg L.P.
The score provided by FICO, named for the Fair Isaac Corporation, is widely used as a measure of a person’s creditworthiness.
CHICAGO, Sept. 04, 2019 -- TransUnion (NYSE: TRU) announced that Steve Chaouki, President U.S. Markets, and Aaron Hoffman, Vice President Investor Relations, will present today.
PORTLAND, Ore., Aug. 28, 2019 /PRNewswire/ -- iovation, a TransUnion (TRU) company, today announced it anticipates challenges in the U.S. online gambling market and is responding by launching a new package of solutions through iovation and TransUnion. The product suite focuses around the onboarding of new players and helps U.S. online gambling operators comply with new regulations, combat fraud and improve the player experience.
Monitoring your credit is important, but when you want to recruit a service to help, do you know which one to choose? Find out which credit monitoring services are the best in the industry in 2019.
(Bloomberg) -- The weak state of the South African consumer was back on investors’ minds Thursday when Mr Price Group Ltd. said shoppers “continue to be constrained” as the retailer presented a four-month trading update.Mr Price fell as much as 14% to the lowest in more than two years in Johannesburg, dragging peers down with it. Truworths International Ltd. slipped 3.2% and Woolworths Holdings Ltd. 2.9% as an index of general retailers dropped the most in seven months.Economic expansion, unemployment, inflation and disposable income remain at levels that aren’t supportive of growth, the retailer said. The clothing business provided the greatest headwinds, with the company failing to get its product mix right, causing “an imbalance in the shape of the assortment” and deeper-than-desired markdowns that hit margins.“The Mr Price update commentary concurred with that of other retailers highlighting the pressures the consumer is under,” said Michele Santangelo, a money manager at Independent Securities. “The comments from management don’t spur much confidence for investors, with a list of factors putting a lid on retail growth prospects.”South Africa’s economy contracted the most in a decade in the first quarter and the jobless rate climbed to 29%. Business groups and analysts have warned that the country could be pressed to ask the International Monetary Fund because of ballooning debt.“Our negative views on the economy and consumer-facing sectors are becoming a reality time and time again and we remain bearish,” said Casparus Treurnicht, a money manager at Gryphon Asset Management. “Some portfolio managers might comment that there is value in retail and banks. We do not agree.”Even so, there may be some hopeful indications: Mr Price said “early signs of a performance recovery into spring and summer have started to emerge,” with sales accelerating after the four months covered by its update. And South African retail sales rose for a sixth straight month in June, suggesting there is still life in the country’s consumers.“The results from many retailers are not completely disastrous, but the rich valuations of many of the South African retailers, which remain in the upper teens on a price/earnings basis, means that the subdued growth outlook and constrained spending environment could lead to further company deratings,” Santangelo said.Mr Price was 13% lower as of 4:47 p.m. in Johannesburg, its biggest decline since January. An index of food and drug retailers slumped 2.1%, with Spar Group Ltd. leading the slide, down 5.5%, the most in 18 months.(Updates share prices.)To contact the reporter on this story: Adelaide Changole in Nairobi at firstname.lastname@example.orgTo contact the editors responsible for this story: Blaise Robinson at email@example.com, John Viljoen, Tom LavellFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
(Bloomberg) -- A new South African law bringing relief to over-indebted, lower-income consumers is unlikely to deal as severe a blow to banks and retailers that some investors may fear, according to Bank of America Merrill Lynch analysts.Describing the legislation as “a bogey, but no cause for alarm,” BofAML analysts including Michael Jacks said in a note that retailers have already provisioned for the projected impact on their bad debt. Banks would typically classify debt that qualifies under the new law under impairments, mitigating its effects. Legal challenges from creditors are likely, while the national credit body will need to add operating capacity, slowing its implementation.Retailers with higher proportions of customers using credit may feel the effects in slower growth, with the targeted income groups accounting for an average of 40% of shoppers at the Foschini Group Ltd., Truworths International Ltd., and Mr Price Group Ltd. A 5% debtors’ book write off would have a 2% negative earnings-per-share impact for Foschini and Truworths and 1% for Mr Price due to lost interest income, while damping future credit growth.“Credit accounts for 70% of Truworths Africa sales, 45% at Foschini and 18% at Mr Price,” BofAML said, adding that “both Foschini and Truworths have already made provisions for this bill in their provisions for bad debts in their last set of results.”Among banks, Capitec Bank Holdings Ltd. has the highest exposure to the targeted income group and one-time impairments could erase 13% of EPS and 4.7% of recurring profits. However, Capitec management has “been actively reducing exposure to affected loans and note conservative provisioning relative to write-off experience, which should temper this outcome.”Absa Group Ltd., the second-most exposed lender, could see a one-time blow to EPS of 9.8%, while FirstRand Ltd. could lose 8.6%, Standard Bank Group Ltd. 7.4% and Nedbank Group Ltd. 6.5%. As unsecured loans account for just 8% of total unsecured advances by banks and only 1% of total bank advances, the law is likely to have a muted impact on South African economic growth, they said.To contact the reporter on this story: Adelaide Changole in Nairobi at firstname.lastname@example.orgTo contact the editors responsible for this story: Blaise Robinson at email@example.com, John Viljoen, Jon MenonFor more articles like this, please visit us at bloomberg.com©2019 Bloomberg L.P.
The newly released Q2 2019 TransUnion (TRU) Industry Insights Report shows that overall consumer credit balances continued to grow in the second quarter—up 4.3% compared to the same period a year ago—bringing total outstanding consumer credit to $1.88 trillion. Over the last 12 months, the number of consumers with access to credit also grew, up 1.7% year-on-year (YoY) in Q2 2019.
CHICAGO, Aug. 14, 2019 -- Gen Z, those individuals born in 1995 or after, increasingly took part in the consumer credit market during the first half of 2019. The newly released.
Securing child support payments can be a difficult task for custodial parents. In fact, a U.S. Census Bureau report from 2018 found that less than half of custodial parents received full child support payments. In an effort to increase these payments without relying solely on enforcement, TransUnion (TRU) today is launching its Child Support Solutions.
Moody's Investors Service ("Moody's") has completed a periodic review of the ratings of Trans Union, LLC and other ratings that are associated with the same analytical unit. The review was conducted through a portfolio review in which Moody's reassessed the appropriateness of the ratings in the context of the relevant principal methodology(ies), recent developments, and a comparison of the financial and operating profile to similarly rated peers. This publication does not announce a credit rating action and is not an indication of whether or not a credit rating action is likely in the near future.
CHICAGO, Aug. 08, 2019 -- TransUnion (NYSE: TRU) today announced that its Board of Directors declared a cash dividend of $0.075 per share for the second quarter 2019. The.
PORTLAND, Ore., Aug. 6, 2019 /PRNewswire/ -- iovation, a TransUnion (TRU) company, today released its recent research that about half of all risky online transactions appear to be coming from a mobile device. Specifically, in the first half of 2019 iovation saw 49% of all risky transactions come from mobile devices, up from 30% in 2018, 33% in 2017 and 25% in 2016. The top continents for mobile fraud: So far in 2019 it is North America with 59% of all risky transactions coming from mobile devices.
TCW mutual fund manager Joseph Shaposhnik looks for all-weather stocks to invest in. He doesn't base buys and sells on macro factors.
TransUnion (TRU) announced today that Eli Peterson will join the company as Deputy General Counsel for Public Policy and Privacy effective August 5. In this new position, Peterson will lead the global groups responsible for public policy, government relations, regulatory advocacy, and privacy. With senior management, Eli will drive enterprise strategy pertaining to the intersection of TransUnion’s major businesses with governmental bodies globally and lead the firm’s cross-business legal support on all privacy matters.
This article is for investors who would like to improve their understanding of price to earnings ratios (P/E ratios...
The number of consumers shopping for personal auto insurance is on the rise, driven largely by the youngest generations. The newly released Auto Insurance Shopping Index from TransUnion (TRU) revealed that 21.7% of consumers were shopping for personal auto insurance in 2018, up from 20% the previous year. Millennial and Gen Z consumers played a large role in this increase as they made up 39% of the consumers shopping for auto insurance in 2018, up from 35% in 2017.