Markit Ltd. (INFO) Receives $39.27 Consensus Price Target from Brokerages
Shares of Markit Ltd. (NASDAQ:INFO) have been given an average rating of “Hold” by the eighteen ratings firms that are covering the company. Two investment analysts have rated the stock with a sell recommendation, seven have issued a hold recommendation and nine have given a buy recommendation to the company. The average 1-year price objective among brokerages that have covered the stock in the last year is $39.27.
A number of research analysts have weighed in on the stock. Barclays PLC boosted their target price on shares of Markit from $35.00 to $38.00 and gave the stock an “equal weight” rating in a research report on Monday, July 25th. Piper Jaffray Cos. raised shares of Markit from a “neutral” rating to an “overweight” rating and set a $43.00 target price for the company in a research report on Wednesday, August 17th. Cantor Fitzgerald reissued a “hold” rating and set a $35.00 target price on shares of Markit in a research report on Tuesday, November 15th. TheStreet upgraded shares of Markit from a “hold” rating to a “buy” rating in a report on Monday, August 15th. Finally, RBC Capital Markets set a $42.00 price objective on shares of Markit and gave the stock a “buy” rating in a report on Wednesday, September 28th.
Shares of Markit (NASDAQ:INFO) opened at 34.94 on Thursday. The stock’s 50 day moving average price is $36.43 and its 200-day moving average price is $35.21. The company has a market cap of $11.88 billion, a PE ratio of 21.20 and a beta of 0.95. Markit has a 12-month low of $26.01 and a 12-month high of $37.85.
Markit (NASDAQ:INFO) last released its earnings results on Tuesday, September 27th. The company reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.01. The firm earned $724.60 million during the quarter, compared to analyst estimates of $557.90 million. Markit had a net margin of 4.06% and a return on equity of 6.21%. The business’s revenue was up 29.9% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.36 EPS. On average, equities research analysts forecast that Markit will post $1.76 earnings per share for the current year.
In related news, Vice Chairman Daniel Yergin sold 50,528 shares of the company’s stock in a transaction dated Friday, September 30th. The shares were sold at an average price of $37.49, for a total value of $1,894,294.72. Following the sale, the insider now owns 492,509 shares of the company’s stock, valued at $18,464,162.41. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Heather Matzke-Hamlin sold 10,080 shares of the company’s stock in a transaction dated Monday, October 31st. The shares were sold at an average price of $36.82, for a total transaction of $371,145.60. Following the completion of the sale, the insider now directly owns 81,877 shares in the company, valued at approximately $3,014,711.14. The disclosure for this sale can be found here.
A number of hedge funds have recently bought and sold shares of the stock. Cookson Peirce & Co. Inc. acquired a new stake in Markit during the third quarter worth $1,267,000. Xact Kapitalforvaltning AB acquired a new stake in Markit during the third quarter worth $2,424,000. Jackson Square Partners LLC acquired a new stake in Markit during the third quarter worth $88,186,000. United Services Automobile Association acquired a new stake in Markit during the third quarter worth $7,768,000. Finally, Emerald Acquisition Ltd. acquired a new stake in Markit during the third quarter worth $62,381,000. 41.55% of the stock is currently owned by institutional investors and hedge funds.
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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