IHS Markit Ltd. (NASDAQ:INFO) Expected to Post Earnings of $0.44 Per Share
Equities research analysts forecast that IHS Markit Ltd. (NASDAQ:INFO) will post earnings of $0.44 per share for the current fiscal quarter, Zacks Investment Research reports. Six analysts have provided estimates for IHS Markit’s earnings. The highest EPS estimate is $0.48 and the lowest is $0.41. IHS Markit posted earnings per share of $0.30 in the same quarter last year, which would indicate a positive year-over-year growth rate of 46.7%. The business is scheduled to issue its next earnings results on Monday, January 1st.
On average, analysts expect that IHS Markit will report full-year earnings of $1.61 per share for the current financial year, with EPS estimates ranging from $1.58 to $1.64. For the next financial year, analysts anticipate that the firm will report earnings of $1.92 per share, with EPS estimates ranging from $1.78 to $2.06. Zacks Investment Research’s EPS calculations are a mean average based on a survey of sell-side research analysts that cover IHS Markit.
IHS Markit (NASDAQ:INFO) last released its quarterly earnings results on Tuesday, June 27th. The business services provider reported $0.52 earnings per share for the quarter, meeting the consensus estimate of $0.52. IHS Markit had a return on equity of 7.33% and a net margin of 6.66%. The firm had revenue of $906.10 million for the quarter, compared to analysts’ expectations of $897.80 million. The business’s revenue was up 54.1% on a year-over-year basis.
INFO has been the topic of a number of research analyst reports. Deutsche Bank AG reiterated a “buy” rating and issued a $52.00 target price (up from $50.00) on shares of IHS Markit in a research report on Friday, June 16th. Zacks Investment Research downgraded IHS Markit from a “hold” rating to a “sell” rating in a research report on Thursday, June 29th. Royal Bank Of Canada reiterated an “outperform” rating and issued a $50.00 target price (up from $48.00) on shares of IHS Markit in a research report on Wednesday, June 28th. Stifel Nicolaus upped their price objective on IHS Markit from $38.00 to $43.00 and gave the company a “hold” rating in a research report on Friday, April 28th. Finally, Credit Suisse Group restated a “neutral” rating and set a $43.00 price objective (up from $40.00) on shares of IHS Markit in a research report on Wednesday, March 29th. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and eight have issued a buy rating to the stock. The company has a consensus rating of “Hold” and a consensus target price of $43.00.
In related news, Director William E. Ford sold 1,400,000 shares of the stock in a transaction that occurred on Thursday, April 20th. The stock was sold at an average price of $43.20, for a total value of $60,480,000.00. Following the transaction, the director now owns 9,639 shares of the company’s stock, valued at $416,404.80. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, EVP Adam Jason Kansler sold 56,174 shares of the stock in a transaction that occurred on Wednesday, April 26th. The stock was sold at an average price of $44.00, for a total value of $2,471,656.00. Following the completion of the transaction, the executive vice president now directly owns 162,307 shares in the company, valued at approximately $7,141,508. The disclosure for this sale can be found here. In the last three months, insiders sold 2,911,993 shares of company stock worth $126,731,883.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Vanguard Group Inc. boosted its stake in shares of IHS Markit by 1.6% in the first quarter. Vanguard Group Inc. now owns 26,734,655 shares of the business services provider’s stock valued at $1,121,519,000 after buying an additional 408,185 shares during the period. Edgewood Management LLC boosted its stake in shares of IHS Markit by 2.6% in the first quarter. Edgewood Management LLC now owns 16,283,098 shares of the business services provider’s stock valued at $683,076,000 after buying an additional 405,039 shares during the period. FMR LLC boosted its stake in shares of IHS Markit by 58.4% in the first quarter. FMR LLC now owns 14,521,091 shares of the business services provider’s stock valued at $609,160,000 after buying an additional 5,352,565 shares during the period. BlackRock Inc. boosted its stake in shares of IHS Markit by 2,428.1% in the first quarter. BlackRock Inc. now owns 10,169,681 shares of the business services provider’s stock valued at $426,616,000 after buying an additional 9,767,408 shares during the period. Finally, Principal Financial Group Inc. boosted its stake in shares of IHS Markit by 81.5% in the first quarter. Principal Financial Group Inc. now owns 5,911,921 shares of the business services provider’s stock valued at $248,005,000 after buying an additional 2,654,794 shares during the period. 97.88% of the stock is currently owned by institutional investors.
IHS Markit (INFO) traded up 0.77% during mid-day trading on Thursday, hitting $44.27. The company’s stock had a trading volume of 1,423,987 shares. IHS Markit has a 52-week low of $31.90 and a 52-week high of $47.92. The company’s 50 day moving average is $45.76 and its 200-day moving average is $41.36. The stock has a market cap of $17.69 billion, a P/E ratio of 81.83 and a beta of 0.86.
IHS Markit Company Profile
IHS Markit Ltd., formerly Markit Ltd., is a provider of critical information and analytics for the major industries, financial markets and governments. The Company operates through four segments: Resources, Transportation, Consolidated Markets & Solutions (CMS) and Financial Services. The Resources segment includes its energy and chemicals product offerings.
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