Markit Ltd. (INFO) PT Set at $34.00 by Morgan Stanley
Markit Ltd. (NASDAQ:INFO) received a $34.00 price objective from investment analysts at Morgan Stanley in a note issued to investors on Wednesday. The brokerage currently has a a “sell” rating on the stock. Morgan Stanley’s target price points to a potential downside of 4.60% from the company’s previous close.
A number of other analysts have also commented on the company. BMO Capital Markets reiterated a “buy” rating and set a $41.00 price target on shares of Markit in a report on Wednesday. Zacks Investment Research upgraded Markit from a “hold” rating to a “strong-buy” rating and set a $42.00 price target on the stock in a report on Monday. Barclays PLC upgraded Markit from a “neutral” rating to an “outperform” rating in a report on Friday, September 16th. Robert W. Baird upgraded Markit from a “neutral” rating to an “outperform” rating and boosted their target price for the company from $39.00 to $41.00 in a research note on Friday, September 16th. Finally, Piper Jaffray Cos. restated an “overweight” rating and issued a $43.00 target price on shares of Markit in a research note on Monday, August 29th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. Markit presently has an average rating of “Buy” and a consensus target price of $39.08.
Markit (NASDAQ:INFO) traded up 3.044% during mid-day trading on Wednesday, reaching $36.725. The company had a trading volume of 2,575,338 shares. Markit has a 12-month low of $26.01 and a 12-month high of $37.84. The stock has a market capitalization of $6.45 billion, a P/E ratio of 57.473 and a beta of 0.94. The stock has a 50 day moving average price of $36.53 and a 200-day moving average price of $34.57.
Markit (NASDAQ:INFO) last issued its quarterly earnings results on Tuesday, September 27th. The company reported $0.45 EPS for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.01. The business had revenue of $724.60 million for the quarter, compared to analyst estimates of $557.90 million. Markit had a return on equity of 8.65% and a net margin of 9.00%. Markit’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same period last year, the company posted $0.36 earnings per share. Equities analysts anticipate that Markit will post $1.76 EPS for the current fiscal year.
In related news, CEO Jerre L. Stead sold 70,000 shares of the business’s stock in a transaction dated Monday, July 18th. The stock was sold at an average price of $35.05, for a total transaction of $2,453,500.00. Following the completion of the transaction, the chief executive officer now directly owns 843,380 shares in the company, valued at $29,560,469. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Jonathan Gear sold 15,000 shares of the company’s stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $36.00, for a total value of $540,000.00. Following the completion of the transaction, the executive vice president now owns 319,287 shares of the company’s stock, valued at $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.
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