Markit Ltd. (INFO) Updates FY17 Earnings Guidance
Markit Ltd. (NASDAQ:INFO) updated its FY17 earnings guidance on Monday. The company provided earnings per share guidance of $2.00-2.08 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.05. The company issued revenue guidance of $3.49-2.56 billion, compared to the consensus revenue estimate of $3.08 billion.
Several equities analysts have recently issued reports on the company. Zacks Investment Research cut Markit from a buy rating to a sell rating in a report on Friday, September 30th. Piper Jaffray Cos. reissued an overweight rating and issued a $43.00 price objective on shares of Markit in a report on Monday, August 29th. TheStreet cut Markit from a buy rating to a hold rating in a report on Tuesday, September 27th. RBC Capital Markets set a $42.00 price objective on Markit and gave the company a buy rating in a report on Wednesday, September 28th. Finally, BMO Capital Markets boosted their price objective on Markit from $41.00 to $43.00 and gave the company an outperform rating in a report on Friday, August 26th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have issued a buy rating to the company. Markit has a consensus rating of Hold and an average price target of $39.57.
Shares of Markit Ltd. (NASDAQ:INFO) opened at 34.99 on Tuesday. The stock has a market capitalization of $11.90 billion, a price-to-earnings ratio of 21.23 and a beta of 0.95. The stock has a 50 day moving average price of $36.60 and a 200-day moving average price of $35.22. Markit Ltd. has a 52-week low of $26.01 and a 52-week high of $37.85.
Markit (NASDAQ:INFO) last released its quarterly earnings results on Tuesday, September 27th. The company reported $0.45 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.01. Markit had a return on equity of 6.21% and a net margin of 4.06%. The firm had revenue of $724.60 million for the quarter, compared to analyst estimates of $557.90 million. During the same quarter last year, the company posted $0.36 earnings per share. The business’s revenue was up 29.9% on a year-over-year basis. On average, equities research analysts predict that Markit Ltd. will post $1.75 EPS for the current fiscal year.
In related news, CFO Todd S. Hyatt sold 14,000 shares of the firm’s stock in a transaction dated Monday, October 31st. The stock was sold at an average price of $36.83, for a total transaction of $515,620.00. Following the transaction, the chief financial officer now owns 365,459 shares of the company’s stock, valued at $13,459,854.97. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Jerre L. Stead sold 145,753 shares of the firm’s stock in a transaction dated Thursday, September 29th. The stock was sold at an average price of $36.96, for a total value of $5,387,030.88. Following the transaction, the chief executive officer now directly owns 587,627 shares in the company, valued at approximately $21,718,693.92. The disclosure for this sale can be found here.
IHS Markit Ltd, formerly Markit Ltd., provides critical information, analytics and solutions for the industries and markets that drive economies worldwide. The Company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights.
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