Markit Ltd. (INFO) Downgraded to Sell at Zacks Investment Research
According to Zacks, “IHS Markit Ltd. provides information, analytics and solutions to customers. It serves business, finance and government. IHS Markit Ltd., formerly known as Markit Ltd., is based in LONDON, United Kingdom. “
INFO has been the subject of several other research reports. Macquarie initiated coverage on shares of Markit in a report on Thursday, August 25th. They issued a neutral rating and a $39.00 target price 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 research report on Friday, August 26th. TheStreet raised shares of Markit from a hold rating to a buy rating in a research report on Monday, June 20th. 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 research report on Friday, September 16th. Finally, Royal Bank Of Canada raised shares of Markit from a sector perform rating to an outperform rating and raised their price target for the company from $36.00 to $42.00 in a research report on Thursday, July 21st. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have assigned a buy rating to the company’s stock. The stock presently has an average rating of Hold and an average target price of $39.08.
Markit (NASDAQ:INFO) opened at 37.525 on Friday. The company has a 50 day moving average price of $36.71 and a 200-day moving average price of $34.67. Markit has a 12 month low of $26.01 and a 12 month high of $37.84. The company has a market cap of $6.59 billion, a PE ratio of 58.725 and a beta of 0.94.
Markit (NASDAQ:INFO) last posted its earnings results on Tuesday, September 27th. The company reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.01. Markit had a net margin of 4.06% and a return on equity of 10.66%. The firm earned $724.60 million during the quarter, compared to the consensus estimate of $557.90 million. During the same quarter last year, the firm earned $0.36 EPS. The firm’s revenue for the quarter was up 29.9% on a year-over-year basis. Equities analysts predict that Markit will post $1.75 earnings per share for the current fiscal year.
In related news, 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 sale, the executive vice president now owns 319,287 shares of the company’s stock, valued at $11,494,332. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director William E. Ford sold 7,001,911 shares of the business’s stock in a transaction dated Wednesday, July 20th. The stock was sold at an average price of $35.69, for a total transaction of $249,898,203.59. 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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