Markit Receives Consensus Rating of “Hold” from Analysts (NASDAQ:MRKT)
Markit (NASDAQ:MRKT) has been given a consensus recommendation of “Hold” by the nine ratings firms that are covering the stock, Stock Ratings Network reports. Six research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $28.74.
Shares of Markit (NASDAQ:MRKT) opened at 25.01 on Monday. Markit has a 1-year low of $24.06 and a 1-year high of $27.45. The stock’s 50-day moving average is $25.68 and its 200-day moving average is $26.01. The company has a market cap of $4.525 billion and a P/E ratio of 43.78. Markit also was the target of a significant growth in short interest in August. As of August 15th, there was short interest totalling 817,498 shares, a growth of 43.2% from the July 31st total of 570,899 shares. Currently, 1.2% of the company’s stock are short sold. Based on an average daily volume of 341,631 shares, the days-to-cover ratio is currently 2.4 days.
Markit (NASDAQ:MRKT) last released its earnings data on Wednesday, August 13th. The company reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.33 by $0.04. The company had revenue of $264.60 million for the quarter, compared to the consensus estimate of $256.30 million. Analysts expect that Markit will post $1.48 EPS for the current fiscal year.
Several analysts have recently commented on the stock. Analysts at Credit Suisse initiated coverage on shares of Markit in a research note on Tuesday, August 19th. They set an “outperform” rating and a $30.00 price target on the stock. Separately, analysts at Deutsche Bank reiterated a “buy” rating on shares of Markit in a research note on Thursday, August 14th. They now have a $30.00 price target on the stock, up previously from $29.00. Finally, analysts at Jefferies Group initiated coverage on shares of Markit in a research note on Thursday, July 24th. They set a “hold” rating and a $28.90 price target on the stock.
Markit Ltd. is a global diversified provider of financial information services. The Company provides pricing and reference data, indices, valuation and trading services, trade processing, enterprise software and managed services.
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