Here in Chicago, Cubs fans are overcoming a disappointing 2019 season--on the heels of a not-so-pleasing 2018 season. As usually happens in these situations, heads roll--in this case, the “head” belonged manager Joe Maddon. Media reports say that the departure was a mutual decision between the team and Maddon. But either way, when a season (or more) doesn’t pan out as planned, change is pretty common in sports.
It’s common in investing, too. When a company’s performance or long-term outlook don't appear to be panning out as expected, said company gets downgraded. At Morningstar, that may mean reducing a fair value estimate, or lowering a Morningstar Economic Moat Rating or Morningstar Moat Trend Rating.
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Susan Dziubinski does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.