Markit Ltd. (INFO) Issues FY16 Earnings Guidance
Markit Ltd. (NASDAQ:INFO) issued an update on its FY16 earnings guidance on Tuesday morning. The company provided EPS guidance of $1.72-1.78 for the period, compared to the Thomson Reuters consensus EPS estimate of $1.75. The company issued revenue guidance of $2.74-2.77 billion, compared to the consensus revenue estimate of $2.75 billion.
Markit Ltd. (NASDAQ:INFO) opened at 35.64 on Wednesday. Markit Ltd. has a one year low of $26.01 and a one year high of $37.83. The firm has a market capitalization of $6.26 billion, a P/E ratio of 55.77 and a beta of 0.94. The stock’s 50 day moving average is $36.53 and its 200 day moving average is $34.57.
Markit (NASDAQ:INFO) last released its quarterly earnings data on Tuesday, September 27th. The company reported $0.45 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.01. The company earned $724.60 million during the quarter, compared to the consensus estimate of $557.90 million. Markit had a net margin of 9.00% and a return on equity of 8.65%. Markit’s revenue for the quarter was up 29.9% on a year-over-year basis. During the same period last year, the firm earned $0.36 EPS. On average, equities research analysts predict that Markit Ltd. will post $1.76 earnings per share for the current fiscal year.
INFO has been the subject of several analyst reports. Macquarie initiated coverage on shares of Markit in a report on Thursday, August 25th. They issued a neutral rating and a $39.00 price target for the company. BMO Capital Markets raised their price target on shares of Markit from $41.00 to $43.00 and gave the company an outperform rating in a report on Friday, August 26th. Zacks Investment Research raised shares of Markit from a hold rating to a strong-buy rating and set a $42.00 price target for the company in a report on Monday. TheStreet raised shares of Markit from a hold rating to a buy rating in a report on Monday, June 20th. Finally, Robert W. Baird raised shares of Markit from a neutral rating to an outperform rating and raised their price target for the company from $39.00 to $41.00 in a report on Friday, September 16th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has a consensus rating of Buy and an average price target of $39.01.
In other Markit news, Director William E. Ford sold 7,001,911 shares of the business’s stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $35.69, for a total value of $249,898,203.59. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, EVP Jonathan Gear sold 15,000 shares of the business’s stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $36.00, for a total transaction of $540,000.00. Following the completion of the transaction, the executive vice president now owns 319,287 shares in the company, valued at approximately $11,494,332. 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.
Receive News & Stock Ratings for Markit Ltd. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Markit Ltd. and related stocks with our FREE daily email newsletter.