Markit Ltd. (INFO) Earns Buy Rating from BMO Capital Markets
Markit Ltd. (NASDAQ:INFO)‘s stock had its “buy” rating reissued by equities researchers at BMO Capital Markets in a research report issued to clients and investors on Wednesday. They currently have a $41.00 target price on the stock. BMO Capital Markets’ price objective would suggest a potential upside of 15.04% from the stock’s current price.
A number of other brokerages have also recently issued reports on INFO. Piper Jaffray Cos. restated an “overweight” rating and set a $43.00 target price on shares of Markit in a report on Monday, August 29th. Macquarie started coverage on Markit in a report on Thursday, August 25th. They set a “neutral” rating and a $39.00 target price on the stock. Robert W. Baird upgraded Markit from a “neutral” rating to an “outperform” rating and lifted their price objective for the company from $39.00 to $41.00 in a report on Friday, September 16th. Barclays PLC upgraded Markit from a “neutral” rating to an “outperform” rating in a report on Friday, September 16th. Finally, Zacks Investment Research upgraded Markit from a “hold” rating to a “strong-buy” rating and set a $42.00 price objective on the stock in a report on Monday. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have given a buy rating and one has given a strong buy rating to the stock. Markit has an average rating of “Buy” and a consensus price target of $38.88.
Shares of Markit (NASDAQ:INFO) traded up 0.435% during midday trading on Wednesday, reaching $35.795. The company’s stock had a trading volume of 870,959 shares. The company has a 50-day moving average price of $36.53 and a 200-day moving average price of $34.57. The firm has a market cap of $6.29 billion, a price-to-earnings ratio of 56.017 and a beta of 0.94. Markit has a 12 month low of $26.01 and a 12 month high of $37.84.
Markit (NASDAQ:INFO) last issued its earnings results on Tuesday, September 27th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.01. Markit had a return on equity of 8.65% and a net margin of 9.00%. The firm had revenue of $724.60 million for the quarter, compared to analysts’ expectations of $557.90 million. During the same quarter last year, the business earned $0.36 earnings per share. The company’s revenue was up 29.9% compared to the same quarter last year. Equities analysts expect that Markit will post $1.76 earnings per share for the current year.
In related news, EVP Michele Louise Trogni sold 7,150 shares of the business’s stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $35.66, for a total value of $254,969.00. Following the completion of the sale, the executive vice president now directly owns 53,138 shares in the company, valued at approximately $1,894,901.08. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Shane Akeroyd sold 50,000 shares of the business’s stock in a transaction on Tuesday, August 16th. The shares were sold at an average price of $35.28, for a total value of $1,764,000.00. Following the completion of the sale, the executive vice president now owns 90,706 shares of the company’s stock, valued at $3,200,107.68. The disclosure for this sale can be found here.
Markit Company Profile
Markit Ltd. is a global diversified provider of financial information services. The Company provides pricing and reference data, indices, valuation and trading services, trade processing, enterprise software and managed services. The Company’s business is organized in three segments: Information, Processing and Solutions.
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