Cantor Fitzgerald Reiterates “Hold” Rating for Markit Ltd. (INFO)
Markit Ltd. (NASDAQ:INFO)‘s stock had its “hold” rating reiterated by research analysts at Cantor Fitzgerald in a research report issued to clients and investors on Tuesday. They currently have a $35.00 target price on the stock. Cantor Fitzgerald’s price target indicates a potential upside of 0.14% from the stock’s previous close.
Other equities analysts also recently issued reports about the company. BMO Capital Markets restated a “buy” rating and issued a $41.00 price objective on shares of Markit in a report on Monday, July 18th. TheStreet upgraded Markit from a “hold” rating to a “buy” rating in a report on Monday, August 15th. RBC Capital Markets set a $42.00 price objective on Markit and gave the stock a “buy” rating in a report on Wednesday, September 28th. Barclays PLC raised their target price on Markit from $35.00 to $38.00 and gave the company an “equal weight” rating in a report on Monday, July 25th. Finally, Macquarie started coverage on Markit in a report on Thursday, August 25th. They set a “neutral” rating and a $39.00 target price on the stock. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and nine have given a buy rating to the company. Markit has a consensus rating of “Hold” and an average price target of $39.57.
Markit (NASDAQ:INFO) opened at 34.95 on Tuesday. The company has a 50-day moving average price of $36.54 and a 200-day moving average price of $35.22. Markit has a one year low of $26.01 and a one year high of $37.85. The firm has a market capitalization of $11.89 billion, a P/E ratio of 21.21 and a beta of 0.95.
Markit (NASDAQ:INFO) last released its quarterly earnings data on Tuesday, September 27th. The company reported $0.45 EPS for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The company 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 6.21% and a net margin of 4.06%. The company’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same period last year, the business posted $0.36 EPS. On average, equities research analysts anticipate that Markit will post $1.75 EPS for the current year.
In related news, insider Heather Matzke-Hamlin sold 10,080 shares of the firm’s stock in a transaction that occurred on Monday, October 31st. The stock was sold at an average price of $36.82, for a total value of $371,145.60. Following the sale, the insider now owns 81,877 shares of the company’s stock, valued at approximately $3,014,711.14. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Jerre L. Stead sold 145,753 shares of the firm’s stock in a transaction that occurred on 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 completion of the sale, 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.
Several hedge funds have recently made changes to their positions in the company. Canada Pension Plan Investment Board bought a new stake in shares of Markit during the third quarter valued at about $594,059,000. Jackson Square Partners LLC bought a new stake in shares of Markit during the third quarter valued at about $88,186,000. Emerald Acquisition Ltd. bought a new stake in shares of Markit during the third quarter valued at about $62,381,000. Mountain Pacific Investment Advisers Inc. ID bought a new stake in shares of Markit during the third quarter valued at about $16,136,000. Finally, United Services Automobile Association bought a new stake in shares of Markit during the third quarter valued at about $7,768,000. 41.55% of the stock is currently owned by institutional investors and hedge funds.
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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