IHS Markit Ltd. (NASDAQ:INFO) shares reached a new 52-week high during trading on Tuesday following a better than expected earnings announcement. The company traded as high as $38.09 and last traded at $38.14, with a volume of 2,154,851 shares. The stock had previously closed at $37.03.
The company reported $0.48 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.46 by $0.02. IHS Markit had a return on equity of 6.21% and a net margin of 4.06%. The company had revenue of $874 million for the quarter, compared to analysts’ expectations of $870.50 million. The business’s revenue was up 57.2% compared to the same quarter last year.
Several equities analysts have issued reports on the company. RBC Capital Markets reiterated an “outperform” rating and set a $45.00 target price (up previously from $42.00) on shares of IHS Markit in a research report on Wednesday. Royal Bank Of Canada upped their price target on IHS Markit from $42.00 to $45.00 and gave the stock an “outperform” rating in a report on Wednesday. BMO Capital Markets restated a “buy” rating and issued a $41.00 price target on shares of IHS Markit in a report on Wednesday, September 28th. TheStreet cut IHS Markit from a “buy” rating to a “hold” rating in a report on Tuesday, September 27th. Finally, Cantor Fitzgerald restated a “hold” rating and issued a $35.00 price target on shares of IHS Markit in a report on Tuesday, November 15th. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and nine have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and a consensus target price of $40.00.
In other IHS Markit news, CFO Todd S. Hyatt sold 14,000 shares of the stock in a transaction on Monday, October 31st. The stock was sold at an average price of $36.83, for a total transaction of $515,620.00. Following the transaction, the chief financial officer now owns 365,459 shares of the company’s stock, valued at approximately $13,459,854.97. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Heather Matzke-Hamlin sold 10,080 shares of the stock in a transaction on Monday, October 31st. The stock was sold at an average price of $36.82, for a total value of $371,145.60. Following the transaction, the insider now directly owns 81,877 shares in the company, valued at approximately $3,014,711.14. The disclosure for this sale can be found here.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Victory Capital Management Inc. acquired a new position in shares of IHS Markit during the third quarter worth $145,000. Integrated Investment Consultants LLC acquired a new position in shares of IHS Markit during the third quarter worth $237,000. BNP Paribas Arbitrage SA acquired a new position in shares of IHS Markit during the third quarter worth $551,000. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new position in shares of IHS Markit during the third quarter worth $1,161,000. Finally, Stanley Laman Group Ltd. purchased a new position in shares of IHS Markit during the third quarter valued at $1,163,000. 90.66% of the stock is currently owned by institutional investors.
The stock has a market cap of $13.13 billion, a price-to-earnings ratio of 23.42 and a beta of 0.86. The firm has a 50-day moving average of $35.78 and a 200 day moving average of $35.93.
IHS Markit Company Profile
IHS Markit Ltd, formerly Markit Ltd., provides critical information, analytics and solutions for the industries and markets that drive economies worldwide. The Company delivers next-generation information, analytics and solutions to customers in business, finance and government, improving their operational efficiency and providing deep insights.