IHS Markit Ltd (NASDAQ:INFO) posted its earnings results on Tuesday. The business services provider reported $0.34 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.45 by $0.11. IHS Markit had a return on equity of 6.57% and a net margin of 4.94%. The firm earned $844.20 million during the quarter, compared to analysts’ expectations of $843.35 million. The company’s revenue was up 53.9% on a year-over-year basis. IHS Markit updated its FY17 guidance to $2.02-2.08 EPS.
Shares of IHS Markit (NASDAQ:INFO) traded down 0.35% on Friday, reaching $43.25. 690,499 shares of the company were exchanged. The company has a market capitalization of $17.57 billion, a price-to-earnings ratio of 89.73 and a beta of 0.90. IHS Markit has a 52 week low of $30.38 and a 52 week high of $43.54. The company’s 50-day moving average is $41.39 and its 200-day moving average is $38.21.
Several research firms have recently weighed in on INFO. Cantor Fitzgerald restated a “neutral” rating and set a $41.00 price objective (up previously from $39.00) on shares of IHS Markit in a research report on Wednesday, March 29th. Royal Bank of Canada restated an “outperform” rating and set a $45.00 price objective (up previously from $42.00) on shares of IHS Markit in a research report on Wednesday, January 18th. Deutsche Bank AG restated a “buy” rating and set a $50.00 price objective (up previously from $44.00) on shares of IHS Markit in a research report on Wednesday, March 29th. BMO Capital Markets reaffirmed a “buy” rating and set a $43.00 target price on shares of IHS Markit in a report on Tuesday, March 28th. Finally, Zacks Investment Research lowered shares of IHS Markit from a “buy” rating to a “hold” rating in a report on Tuesday, March 21st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and eight have issued a buy rating to the stock. The company currently has a consensus rating of “Hold” and a consensus price target of $41.77.
In other news, Director William E. Ford sold 1,400,000 shares of the company’s stock in a transaction that occurred on Thursday, April 20th. The stock was sold at an average price of $43.20, for a total transaction of $60,480,000.00. Following the completion of the sale, the director now owns 9,639 shares in the company, valued at $416,404.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Todd S. Hyatt sold 14,000 shares of the company’s stock in a transaction that occurred on Tuesday, January 31st. The stock was sold at an average price of $39.38, for a total value of $551,320.00. Following the sale, the chief financial officer now owns 353,892 shares of the company’s stock, valued at approximately $13,936,266.96. The disclosure for this sale can be found here. Insiders sold 1,601,168 shares of company stock valued at $68,626,544 over the last ninety days.
Several large investors have recently added to or reduced their stakes in the company. Jackson Square Partners LLC bought a new stake in IHS Markit during the third quarter valued at approximately $88,186,000. United Services Automobile Association acquired a new position in shares of IHS Markit during the third quarter worth $7,768,000. Emerald Acquisition Ltd. acquired a new position in shares of IHS Markit during the third quarter worth $62,381,000. Canada Pension Plan Investment Board acquired a new position in shares of IHS Markit during the third quarter worth $594,059,000. Finally, Ngam Advisors L.P. acquired a new position in shares of IHS Markit during the third quarter worth $1,923,000. Institutional investors and hedge funds own 91.47% 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.
