IHS Markit Ltd. (INFO) Stock Rating Reaffirmed by BMO Capital Markets
BMO Capital Markets restated their outperform rating on shares of IHS Markit Ltd. (NASDAQ:INFO) in a research note released on Wednesday. The brokerage currently has a $50.00 price target on the business services provider’s stock, down from their prior price target of $52.00.
A number of other equities research analysts have also weighed in on the stock. Morgan Stanley decreased their price objective on shares of IHS Markit from $41.00 to $40.00 and set an underweight rating for the company in a report on Wednesday. Royal Bank Of Canada decreased their price objective on shares of IHS Markit from $50.00 to $49.00 and set an outperform rating for the company in a report on Wednesday. Cantor Fitzgerald reiterated a hold rating and set a $45.00 price objective on shares of IHS Markit in a report on Tuesday, September 26th. Zacks Investment Research upgraded shares of IHS Markit from a sell rating to a hold rating in a report on Tuesday, August 29th. Finally, UBS AG reiterated a neutral rating and set a $47.00 price objective (up previously from $43.00) on shares of IHS Markit in a report on Friday, June 30th. Two equities research analysts have rated the stock with a sell rating, four have issued a hold rating and six have given a buy rating to the company’s stock. IHS Markit currently has a consensus rating of Hold and a consensus price target of $46.67.
IHS Markit (INFO) opened at 44.08 on Wednesday. IHS Markit has a 1-year low of $34.13 and a 1-year high of $48.53. The company has a market capitalization of $17.53 billion, a P/E ratio of 46.30 and a beta of 0.88. The company has a 50-day moving average of $46.67 and a 200-day moving average of $44.61.
IHS Markit (NASDAQ:INFO) last announced its quarterly earnings data on Tuesday, September 26th. The business services provider reported $0.57 earnings per share for the quarter, beating analysts’ consensus estimates 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 last year, the business posted $0.45 EPS. The firm’s revenue for the quarter was up 24.9% on a year-over-year basis. Equities analysts expect that IHS Markit will post $2.06 EPS for the current fiscal year.
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In related news, President Lance Darrell Gordon Uggla sold 112,162 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $47.27, for a total transaction of $5,301,897.74. Following the completion of the transaction, the president now owns 461,344 shares in the company, valued at approximately $21,807,730.88. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Vice Chairman Daniel Yergin sold 43,657 shares of the business’s stock in a transaction that occurred on Wednesday, July 5th. The stock was sold at an average price of $44.17, for a total transaction of $1,928,329.69. Following the transaction, the insider now owns 364,703 shares of the company’s stock, valued at approximately $16,108,931.51. The disclosure for this sale can be found here. In the last 90 days, insiders sold 1,031,463 shares of company stock valued at $48,308,385.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Dupont Capital Management Corp bought a new position in shares of IHS Markit during the 2nd quarter worth approximately $120,000. ETF Managers Group LLC bought a new position in shares of IHS Markit during the 2nd quarter worth approximately $135,000. Mutual of America Capital Management LLC raised its stake in shares of IHS Markit by 20.0% during the 1st quarter. Mutual of America Capital Management LLC now owns 4,175 shares of the business services provider’s stock worth $175,000 after acquiring an additional 695 shares in the last quarter. Global X Management Co. LLC raised its stake in shares of IHS Markit by 60.3% during the 1st quarter. Global X Management Co. LLC now owns 4,265 shares of the business services provider’s stock worth $179,000 after acquiring an additional 1,605 shares in the last quarter. Finally, Flinton Capital Management LLC bought a new position in shares of IHS Markit during the 2nd quarter worth approximately $180,000. Hedge funds and other institutional investors own 96.03% of the company’s stock.
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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