Zacks: Analysts Expect IHS Markit Ltd. (INFO) Will Post Quarterly Sales of $891.74 Million
Wall Street analysts expect IHS Markit Ltd. (NASDAQ:INFO) to announce $891.74 million in sales for the current fiscal quarter, according to Zacks. Six analysts have issued estimates for IHS Markit’s earnings, with the highest sales estimate coming in at $906.30 million and the lowest estimate coming in at $884.34 million. IHS Markit posted sales of $724.60 million during the same quarter last year, which suggests a positive year-over-year growth rate of 23.1%. The business is expected to issue its next earnings results on Monday, January 1st.
On average, analysts expect that IHS Markit will report full year sales of $891.74 million for the current year, with estimates ranging from $3.53 billion to $3.56 billion. For the next fiscal year, analysts anticipate that the firm will report sales of $3.70 billion per share, with estimates ranging from $3.66 billion to $3.74 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that cover IHS Markit.
IHS Markit (NASDAQ:INFO) last announced its earnings results on Tuesday, June 27th. The business services provider reported $0.52 EPS for the quarter, meeting analysts’ consensus estimates of $0.52. The firm had revenue of $906.10 million for the quarter, compared to analysts’ expectations of $897.80 million. IHS Markit had a return on equity of 7.33% and a net margin of 6.66%. The business’s revenue for the quarter was up 54.1% on a year-over-year basis.
INFO has been the topic of several recent analyst reports. Deutsche Bank AG reissued a “buy” rating and set a $52.00 target price (up from $50.00) on shares of IHS Markit in a research note on Friday, June 16th. Zacks Investment Research downgraded shares of IHS Markit from a “hold” rating to a “sell” rating in a research note on Thursday, June 29th. Royal Bank Of Canada reissued an “outperform” rating and set a $50.00 target price (up from $48.00) on shares of IHS Markit in a research note on Wednesday, June 28th. Stifel Nicolaus boosted their target price on shares of IHS Markit from $38.00 to $43.00 and gave the company a “hold” rating in a research note on Friday, April 28th. Finally, Credit Suisse Group reissued a “neutral” rating and set a $43.00 target price (up from $40.00) on shares of IHS Markit in a research note on Wednesday, March 29th. Two analysts have rated the stock with a sell rating, five have given a hold rating and eight have given a buy rating to the company. The company presently has an average rating of “Hold” and a consensus price target of $43.00.
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Shares of IHS Markit (NASDAQ INFO) opened at 44.27 on Friday. IHS Markit has a 12-month low of $31.90 and a 12-month high of $47.92. The stock’s 50 day moving average price is $45.76 and its 200 day moving average price is $41.36. The firm has a market cap of $17.69 billion, a PE ratio of 81.83 and a beta of 0.86.
In other news, Director William E. Ford sold 1,400,000 shares of the business’s stock in a transaction on Thursday, April 20th. The shares were sold at an average price of $43.20, for a total transaction of $60,480,000.00. Following the transaction, the director now directly owns 9,639 shares in the company, valued at approximately $416,404.80. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Vice Chairman Daniel Yergin sold 43,657 shares of the business’s stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $44.17, for a total transaction of $1,928,329.69. Following the transaction, the insider now owns 364,703 shares in the company, valued at $16,108,931.51. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 2,911,993 shares of company stock worth $126,731,883.
Several institutional investors have recently bought and sold shares of INFO. Candriam Luxembourg S.C.A. bought a new position in IHS Markit during the first quarter valued at approximately $1,170,000. State of Alaska Department of Revenue acquired a new stake in shares of IHS Markit during the first quarter worth about $373,000. Conestoga Capital Advisors LLC boosted its stake in shares of IHS Markit by 57.5% in the first quarter. Conestoga Capital Advisors LLC now owns 55,080 shares of the business services provider’s stock worth $2,311,000 after buying an additional 20,117 shares in the last quarter. DnB Asset Management AS boosted its stake in shares of IHS Markit by 23.4% in the first quarter. DnB Asset Management AS now owns 32,720 shares of the business services provider’s stock worth $1,373,000 after buying an additional 6,200 shares in the last quarter. Finally, Parametrica Management Ltd acquired a new stake in shares of IHS Markit during the first quarter worth about $786,000. Institutional investors and hedge funds own 97.88% 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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