FY2016 Earnings Estimate for Markit Ltd. (INFO) Issued By SunTrust Banks
Markit Ltd. (NASDAQ:INFO) – Equities research analysts at SunTrust Banks issued their FY2016 earnings per share (EPS) estimates for Markit in a note issued to investors on Monday. SunTrust Banks analyst A. Jeffrey anticipates that the brokerage will earn $1.29 per share for the year. SunTrust Banks also issued estimates for Markit’s Q4 2016 earnings at $0.36 EPS, Q1 2017 earnings at $0.37 EPS, Q2 2017 earnings at $0.41 EPS, Q3 2017 earnings at $0.43 EPS, Q4 2017 earnings at $0.47 EPS, FY2017 earnings at $1.68 EPS and FY2018 earnings at $2.02 EPS.
Markit (NASDAQ:INFO) last issued its earnings results on Tuesday, September 27th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. The business earned $724.60 million during 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 revenue for the quarter was up 29.9% on a year-over-year basis. During the same period in the prior year, the business posted $0.36 EPS.
A number of other analysts have also issued reports on the company. Cantor Fitzgerald reaffirmed a “hold” rating and set a $35.00 target price on shares of Markit in a research report on Tuesday. Zacks Investment Research lowered Markit from a “buy” rating to a “sell” rating in a research report on Friday, September 30th. RBC Capital Markets set a $42.00 price target on Markit and gave the stock a “buy” rating in a research note on Wednesday, September 28th. TheStreet downgraded Markit from a “buy” rating to a “hold” rating in a research note on Tuesday, September 27th. Finally, Morgan Stanley set a $34.00 price target on Markit and gave the stock a “sell” rating in a research note on Wednesday, September 28th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and nine have assigned a buy rating to the company. Markit has an average rating of “Hold” and a consensus price target of $39.57.
Markit (NASDAQ:INFO) opened at 35.40 on Thursday. The stock’s 50 day moving average price is $36.50 and its 200-day moving average price is $35.22. The stock has a market capitalization of $12.04 billion, a P/E ratio of 21.48 and a beta of 0.95. Markit has a 52 week low of $26.01 and a 52 week high of $37.85.
Several institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. acquired a new position in shares of Markit during the third quarter valued at about $145,000. Integrated Investment Consultants LLC purchased a new stake in shares of Markit during the third quarter valued at approximately $237,000. BNP Paribas Arbitrage SA purchased a new stake in shares of Markit during the third quarter valued at approximately $551,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA purchased a new stake in shares of Markit during the third quarter valued at approximately $1,161,000. Finally, Stanley Laman Group Ltd. purchased a new stake in shares of Markit during the third quarter valued at approximately $1,163,000. Institutional investors and hedge funds own 41.55% of the company’s stock.
In other news, Vice Chairman Daniel Yergin sold 50,528 shares of the business’s stock in a transaction that occurred on Friday, September 30th. The stock was sold at an average price of $37.49, for a total transaction of $1,894,294.72. Following the completion of the transaction, the insider now directly owns 492,509 shares in the company, valued at $18,464,162.41. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Jerre L. Stead sold 145,753 shares of the business’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 transaction, the chief executive officer now owns 587,627 shares of the company’s stock, valued at $21,718,693.92. The disclosure for this sale can be found here.
Markit Company Profile
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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