TheStreet Downgrades Markit Ltd. (INFO) to Hold
Markit Ltd. (NASDAQ:INFO) was downgraded by TheStreet from a “buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday.
INFO has been the topic of several other research reports. Goldman Sachs Group Inc. reiterated a “neutral” rating and issued a $38.00 price objective on shares of Markit in a report on Friday, July 22nd. Bank of America Corp. began coverage on Markit in a report on Friday, July 15th. They issued a “buy” rating and a $40.00 price objective on the stock. Robert W. Baird upgraded Markit from a “neutral” rating to an “outperform” rating and boosted their price objective for the company from $39.00 to $41.00 in a report on Friday, September 16th. Credit Suisse Group AG reiterated a “neutral” rating and issued a $37.00 price objective on shares of Markit in a report on Friday, July 15th. Finally, Stifel Nicolaus downgraded Markit from a “buy” rating to a “hold” rating in a report on Thursday, July 14th. One equities research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. The stock has a consensus rating of “Buy” and an average target price of $39.08.
Markit (NASDAQ:INFO) opened at 36.78 on Tuesday. The company has a market cap of $6.46 billion, a P/E ratio of 57.56 and a beta of 0.94. The stock’s 50 day moving average price is $36.58 and its 200-day moving average price is $34.59. Markit has a 52-week low of $26.01 and a 52-week high of $37.83.
Markit (NASDAQ:INFO) last posted its quarterly earnings data on Tuesday, September 27th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.01. The firm had revenue of $724.60 million for the quarter, compared to the consensus estimate of $557.90 million. Markit had a return on equity of 8.65% and a net margin of 9.00%. The company’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.36 EPS. On average, equities analysts predict that Markit will post $1.76 earnings per share for the current fiscal year.
In related news, Director William E. Ford sold 7,001,911 shares of the company’s stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $35.69, for a total value of $249,898,203.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Jerre L. Stead sold 70,000 shares of the company’s stock in a transaction dated Monday, July 18th. The shares were sold at an average price of $35.05, for a total value of $2,453,500.00. Following the completion of the sale, the chief executive officer now directly owns 843,380 shares of the company’s stock, valued at $29,560,469. The disclosure for this sale can be found here.
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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