IHS Markit (INFO) Releases Quarterly Earnings Results, Beats Expectations By $0.15 EPS
IHS Markit (NASDAQ:INFO) posted its quarterly earnings data on Tuesday. The business services provider reported $0.60 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.45 by $0.15, MarketWatch Earnings reports. IHS Markit had a net margin of 9.96% and a return on equity of 9.80%. The company had revenue of $1.05 billion during the quarter, compared to analysts’ expectations of $1.06 billion. During the same period in the prior year, the company posted $0.53 earnings per share. IHS Markit’s revenue for the quarter was up 12.3% compared to the same quarter last year. IHS Markit updated its FY 2019 guidance to $2.52-2.57 EPS and its FY19 guidance to $2.52-2.57 EPS.
Shares of NASDAQ INFO opened at $52.60 on Thursday. The firm has a market cap of $22.62 billion, a P/E ratio of 26.57, a P/E/G ratio of 2.35 and a beta of 0.82. IHS Markit has a 12-month low of $44.52 and a 12-month high of $55.99. The company has a debt-to-equity ratio of 0.61, a quick ratio of 0.47 and a current ratio of 0.64.
Several equities research analysts have recently weighed in on the stock. UBS Group increased their price objective on shares of IHS Markit from $53.00 to $56.00 and gave the stock a “neutral” rating in a research report on Tuesday, March 12th. BidaskClub cut shares of IHS Markit from a “buy” rating to a “hold” rating in a research report on Saturday, December 15th. Cantor Fitzgerald reiterated a “hold” rating and set a $51.00 price objective on shares of IHS Markit in a research report on Tuesday, January 15th. Zacks Investment Research cut shares of IHS Markit from a “hold” rating to a “sell” rating in a research report on Friday, January 11th. Finally, Morgan Stanley increased their target price on shares of IHS Markit from $45.00 to $46.00 and gave the stock an “underweight” rating in a research note on Wednesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the stock. IHS Markit presently has a consensus rating of “Buy” and a consensus price target of $58.36.
Institutional investors have recently added to or reduced their stakes in the business. Financial Gravity Companies Inc. bought a new position in shares of IHS Markit in the fourth quarter valued at $27,000. Sontag Advisory LLC bought a new position in shares of IHS Markit in the fourth quarter valued at $29,000. Avestar Capital LLC lifted its stake in shares of IHS Markit by 10,250.0% in the fourth quarter. Avestar Capital LLC now owns 1,035 shares of the business services provider’s stock valued at $31,000 after buying an additional 1,025 shares in the last quarter. YorkBridge Wealth Partners LLC bought a new position in shares of IHS Markit in the fourth quarter valued at $37,000. Finally, Oregon Public Employees Retirement Fund lifted its stake in shares of IHS Markit by 4,638.4% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 1,860,373 shares of the business services provider’s stock valued at $39,000 after buying an additional 1,821,111 shares in the last quarter. 91.79% of the stock is currently owned by hedge funds and other institutional investors.
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About IHS Markit
IHS Markit Ltd. provides critical information, analytics, and solutions for various industries and markets that drive economies worldwide. The company's information, analytics, and solutions enhance operational efficiency and offer deep insights for customers in business, finance, and government.
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