Markit Ltd. (INFO) Receives Average Recommendation of “Hold” from Analysts
Markit Ltd. (NASDAQ:INFO) has been given an average rating of “Hold” by the nineteen analysts that are presently covering the stock. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating on the company. The average 1-year price target among brokerages that have covered the stock in the last year is $39.02.
Several analysts recently weighed in on INFO shares. TheStreet upgraded Markit from a “hold” rating to a “buy” rating in a report on Monday, June 20th. Royal Bank Of Canada lifted their price objective on Markit from $35.00 to $36.00 and gave the company a “sector perform” rating in a report on Wednesday, June 29th. Zacks Investment Research upgraded Markit from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 13th. Stifel Nicolaus downgraded Markit from a “buy” rating to a “hold” rating in a report on Thursday, July 14th. Finally, Bank of America Corp. started coverage on Markit in a report on Friday, July 15th. They issued a “buy” rating and a $40.00 price objective for the company.
Shares of Markit (NASDAQ:INFO) traded up 0.06% on Thursday, reaching $36.28. 645,748 shares of the company’s stock were exchanged. The stock has a market cap of $6.37 billion, a price-to-earnings ratio of 56.78 and a beta of 0.94. Markit has a one year low of $26.01 and a one year high of $37.83. The company’s 50 day moving average is $36.88 and its 200-day moving average is $34.96.
Markit (NASDAQ:INFO) last released its quarterly earnings data on Tuesday, September 27th. The company reported $0.45 earnings per share for the quarter, beating the consensus estimate of $0.44 by $0.01. The firm earned $724.60 million during the quarter, compared to the consensus estimate of $557.90 million. Markit had a return on equity of 6.18% and a net margin of 4.06%. The firm’s quarterly revenue was up 29.9% on a year-over-year basis. During the same period in the previous year, the company posted $0.36 earnings per share. On average, analysts anticipate that Markit will post $1.75 EPS for the current year.
In related news, CEO Jerre L. Stead sold 70,000 shares of the company’s stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $35.05, for a total value of $2,453,500.00. Following the sale, the chief executive officer now owns 843,380 shares in the company, valued at $29,560,469. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Jane L. Okun Bomba sold 50,000 shares of the company’s stock in a transaction that occurred on Friday, September 30th. The shares were sold at an average price of $37.60, for a total value of $1,880,000.00. Following the completion of the sale, the executive vice president now owns 295,426 shares in the company, valued at approximately $11,108,017.60. The disclosure for this sale can be found here.
A hedge fund recently bought a new stake in Markit stock. BNP Paribas Arbitrage SA bought a new position in shares of Markit Ltd. (NASDAQ:INFO) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund bought 14,670 shares of the company’s stock, valued at approximately $551,000. 54.26% of the stock is currently owned by institutional investors.
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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