UBS AG Lowers IHS Markit Ltd. (INFO) Price Target to $44.00
IHS Markit Ltd. (NASDAQ:INFO) had its price target reduced by stock analysts at UBS AG from $45.00 to $44.00 in a research report issued on Friday. The brokerage presently has a “neutral” rating on the business services provider’s stock. UBS AG’s target price suggests a potential upside of 0.87% from the stock’s current price.
A number of other equities analysts have also weighed in on the company. Zacks Investment Research upgraded IHS Markit from a “sell” rating to a “hold” rating in a research note on Tuesday, August 29th. Cantor Fitzgerald restated a “hold” rating and issued a $45.00 target price on shares of IHS Markit in a research note on Tuesday, September 26th. SunTrust Banks, Inc. upped their target price on IHS Markit to $48.00 and gave the stock a “hold” rating in a research note on Tuesday, November 14th. Wells Fargo & Company decreased their target price on IHS Markit from $52.00 to $50.00 and set an “outperform” rating on the stock in a research note on Wednesday, September 27th. Finally, BMO Capital Markets restated an “outperform” rating and issued a $50.00 target price (down from $52.00) on shares of IHS Markit in a research note on Wednesday, September 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average price target of $47.46.
Shares of IHS Markit (NASDAQ INFO) traded up $0.16 during midday trading on Friday, reaching $43.62. The company’s stock had a trading volume of 3,879,743 shares, compared to its average volume of 2,133,410. The company has a market cap of $17,399.71, a price-to-earnings ratio of 26.93, a P/E/G ratio of 2.38 and a beta of 0.82. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.53 and a quick ratio of 0.53. IHS Markit has a fifty-two week low of $34.20 and a fifty-two week high of $48.53.
IHS Markit (NASDAQ:INFO) last announced its earnings results on Tuesday, September 26th. The business services provider reported $0.57 earnings per share for the quarter, topping analysts’ consensus estimates of $0.53 by $0.04. The business had revenue of $904.70 million for the quarter, compared to analyst estimates of $890.99 million. IHS Markit had a return on equity of 8.79% and a net margin of 11.35%. The company’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same period in the prior year, the company earned $0.45 EPS. sell-side analysts expect that IHS Markit will post 1.57 EPS for the current fiscal year.
In other news, CFO Todd S. Hyatt sold 20,000 shares of the stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $44.20, for a total transaction of $884,000.00. The sale was disclosed in a document filed with the SEC, which is available through the SEC website.
A number of institutional investors and hedge funds have recently bought and sold shares of INFO. BlackRock Inc. grew its position in IHS Markit by 104.2% during the 2nd quarter. BlackRock Inc. now owns 20,763,308 shares of the business services provider’s stock worth $914,415,000 after acquiring an additional 10,593,627 shares during the last quarter. State Street Corp grew its position in IHS Markit by 269.2% during the 2nd quarter. State Street Corp now owns 14,324,138 shares of the business services provider’s stock worth $630,974,000 after acquiring an additional 10,443,873 shares during the last quarter. Vanguard Group Inc. grew its position in IHS Markit by 23.1% during the 2nd quarter. Vanguard Group Inc. now owns 32,906,495 shares of the business services provider’s stock worth $1,449,201,000 after acquiring an additional 6,171,840 shares during the last quarter. Janus Henderson Group PLC grew its position in IHS Markit by 8,621.2% during the 2nd quarter. Janus Henderson Group PLC now owns 4,084,667 shares of the business services provider’s stock worth $179,889,000 after acquiring an additional 4,037,831 shares during the last quarter. Finally, BT Investment Management Ltd grew its position in IHS Markit by 156.3% during the 3rd quarter. BT Investment Management Ltd now owns 5,887,279 shares of the business services provider’s stock worth $259,511,000 after acquiring an additional 3,590,548 shares during the last quarter. Institutional investors and hedge funds own 94.48% of the company’s stock.
About IHS Markit
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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