Investment research specialist Morningstar has acquired 34% of Inquiry Financial Europe for an undisclosed amount.
Founded in 2003, Bromma, Sweden-based Inquiry Financial collects data directly from sell-side analysts or via analyst research notes. In addition to detailed profit and loss consensus data, the firm also compiles sell-side analyst comments on non-recurring items, divisional breakdowns of forecast sales and units shipped, and sector-specific data such as net interest income, total costs, and provisions for banks.
Said Kunal Kapoor, president of Morningstar’s data division, in a statement: “We see this as a strong complement to Morningstar’s earnings estimate business. Our investment in Inquiry Financial will allow us to expand both the depth and breadth of our global earnings estimate data coverage.”
Morningstar provides consensus earnings estimates on more than 16,000 different share classes from more than 70 different exchange countries. Over time, Morningstar plans to make Inquiry Financial’s detailed earnings estimate data available across its major product lines.