IHS Markit Ltd. (INFO) Price Target Cut to $44.00
IHS Markit Ltd. (NASDAQ:INFO) had its target price reduced by equities researchers at UBS AG from $45.00 to $44.00 in a research report issued on Friday. The firm presently has a “neutral” rating on the business services provider’s stock. UBS AG’s target price indicates a potential upside of 1.24% from the company’s current price.
A number of other research firms have also recently commented on INFO. Zacks Investment Research raised shares of IHS Markit from a “sell” rating to a “hold” rating in a research report on Tuesday, August 29th. Cantor Fitzgerald reiterated a “hold” rating and set a $45.00 price target on shares of IHS Markit in a research note on Tuesday, September 26th. SunTrust Banks, Inc. boosted their price target on shares of IHS Markit to $48.00 and gave the stock a “hold” rating in a research note on Tuesday. Wells Fargo & Company cut their price target on shares of IHS Markit from $52.00 to $50.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 27th. Finally, BMO Capital Markets reiterated an “outperform” rating and set a $50.00 price target (down from $52.00) on shares of IHS Markit in a research note on Wednesday, September 27th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and seven have given a buy rating to the company. IHS Markit presently has a consensus rating of “Hold” and an average price target of $47.46.
Shares of IHS Markit (NASDAQ INFO) traded down $0.07 during midday trading on Friday, reaching $43.46. 1,517,800 shares of the company’s stock traded hands, compared to its average volume of 2,654,993. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.53 and a current ratio of 0.53. The firm has a market cap of $17,400.00, a PE ratio of 26.87, a price-to-earnings-growth ratio of 2.26 and a beta of 0.82. IHS Markit has a twelve month low of $34.20 and a twelve month high of $48.53.
IHS Markit (NASDAQ:INFO) last issued its quarterly earnings results on Tuesday, September 26th. The business services provider reported $0.57 EPS for the quarter, topping the consensus estimate of $0.53 by $0.04. IHS Markit had a net margin of 11.35% and a return on equity of 8.79%. The company had revenue of $904.70 million during the quarter, compared to analyst estimates of $890.99 million. During the same quarter in the previous year, the firm earned $0.45 EPS. The firm’s revenue was up 24.9% compared to the same quarter last year. sell-side analysts forecast that IHS Markit will post 1.65 earnings per share for the current fiscal year.
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In other news, CFO Todd S. Hyatt sold 20,000 shares of the stock in a transaction that occurred on Monday, October 2nd. The stock was sold at an average price of $44.20, for a total value of $884,000.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink.
Several hedge funds have recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of IHS Markit by 23.1% in the second quarter. Vanguard Group Inc. now owns 32,906,495 shares of the business services provider’s stock valued at $1,449,201,000 after acquiring an additional 6,171,840 shares during the period. BlackRock Inc. lifted its holdings in shares of IHS Markit by 104.2% during the second quarter. BlackRock Inc. now owns 20,763,308 shares of the business services provider’s stock worth $914,415,000 after purchasing an additional 10,593,627 shares during the period. FMR LLC lifted its holdings in shares of IHS Markit by 20.6% during the second quarter. FMR LLC now owns 17,512,617 shares of the business services provider’s stock worth $771,256,000 after purchasing an additional 2,991,526 shares during the period. Edgewood Management LLC lifted its holdings in shares of IHS Markit by 0.9% during the third quarter. Edgewood Management LLC now owns 17,088,421 shares of the business services provider’s stock worth $753,258,000 after purchasing an additional 158,338 shares during the period. Finally, State Street Corp lifted its holdings in shares of IHS Markit by 269.2% during the second quarter. State Street Corp now owns 14,324,138 shares of the business services provider’s stock worth $630,974,000 after purchasing an additional 10,443,873 shares during the period. 94.48% of the stock is owned by institutional investors and hedge funds.
About IHS Markit
IHS Markit Ltd., formerly Markit Ltd., is a provider of critical information and analytics for the major industries, financial markets and governments. The Company operates through four segments: Resources, Transportation, Consolidated Markets & Solutions (CMS) and Financial Services. The Resources segment includes its energy and chemicals product offerings.
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