IHS Markit Ltd. (INFO) Expected to Post Earnings of $0.51 Per Share
Wall Street brokerages forecast that IHS Markit Ltd. (NASDAQ:INFO) will announce earnings per share (EPS) of $0.51 for the current fiscal quarter, Zacks Investment Research reports. Seven analysts have provided estimates for IHS Markit’s earnings. The lowest EPS estimate is $0.49 and the highest is $0.52. IHS Markit posted earnings of $0.48 per share during the same quarter last year, which would indicate a positive year over year growth rate of 6.3%. The business is expected to report its next earnings results on Tuesday, January 16th.
According to Zacks, analysts expect that IHS Markit will report full-year earnings of $2.05 per share for the current financial year, with EPS estimates ranging from $2.04 to $2.06. For the next financial year, analysts anticipate that the firm will report earnings of $2.24 per share, with EPS estimates ranging from $2.15 to $2.32. Zacks Investment Research’s EPS averages are an average based on a survey of sell-side research firms that follow IHS Markit.
IHS Markit (NASDAQ:INFO) last posted its quarterly earnings data on Tuesday, September 26th. The business services provider reported $0.57 EPS for the quarter, beating the Zacks’ consensus estimate 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 net margin of 11.35% and a return on equity of 8.79%. The business’s revenue for the quarter was up 24.9% on a year-over-year basis. During the same quarter last year, the business earned $0.45 earnings per share.
INFO has been the subject of a number of analyst reports. Morgan Stanley reissued an “underweight” rating and set a $41.00 price objective (up previously from $40.00) on shares of IHS Markit in a research note on Tuesday, July 18th. Zacks Investment Research raised IHS Markit from a “sell” rating to a “hold” rating in a research note on Tuesday, August 29th. Cantor Fitzgerald reiterated a “hold” rating and issued a $45.00 price objective on shares of IHS Markit in a report on Tuesday, September 26th. Royal Bank Of Canada decreased their price objective on IHS Markit from $50.00 to $49.00 and set an “outperform” rating for the company in a report on Wednesday, September 27th. Finally, BMO Capital Markets reiterated an “outperform” rating and issued a $50.00 price objective (down previously from $52.00) on shares of IHS Markit in a report on Wednesday, September 27th. Two investment analysts have rated the stock with a sell rating, four have given a hold rating and six have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average target price of $47.00.
IHS Markit (NASDAQ INFO) traded up 0.38% on Tuesday, reaching $42.61. 2,670,873 shares of the company’s stock traded hands. The firm’s 50 day moving average price is $45.03 and its 200 day moving average price is $45.30. IHS Markit has a 52-week low of $34.13 and a 52-week high of $48.53. The firm has a market capitalization of $16.94 billion, a PE ratio of 44.76 and a beta of 0.85.
In other IHS Markit news, CFO Todd S. Hyatt sold 20,000 shares of the company’s stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $44.20, for a total value of $884,000.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link.
Several hedge funds and other institutional investors have recently modified their holdings of INFO. Prudential Financial Inc. purchased a new stake in shares of IHS Markit during the 1st quarter worth $247,000. Alliancebernstein L.P. increased its position in IHS Markit by 39.0% during the 1st quarter. Alliancebernstein L.P. now owns 39,432 shares of the business services provider’s stock valued at $1,654,000 after buying an additional 11,066 shares in the last quarter. Teachers Advisors LLC increased its position in IHS Markit by 22.4% during the 1st quarter. Teachers Advisors LLC now owns 899,947 shares of the business services provider’s stock valued at $37,753,000 after buying an additional 164,841 shares in the last quarter. PNC Financial Services Group Inc. increased its position in IHS Markit by 12.2% during the 1st quarter. PNC Financial Services Group Inc. now owns 19,678 shares of the business services provider’s stock valued at $825,000 after buying an additional 2,133 shares in the last quarter. Finally, Cambridge Investment Research Advisors Inc. acquired a new position in IHS Markit during the 1st quarter valued at about $221,000. Hedge funds and other institutional investors own 96.06% of the company’s stock.
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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