Markit Ltd. (INFO) Hits New 1-Year High at $36.83
Markit Ltd. (NASDAQ:INFO) shares hit a new 52-week high during trading on Thursday . The stock traded as high as $36.83 and last traded at $36.16, with a volume of 1,729,256 shares traded. The stock had previously closed at $35.66.
Several research analysts have recently commented on the company. Deutsche Bank AG raised Markit to a “buy” rating in a report on Sunday, July 17th. William Blair reissued an “outperform” rating on shares of Markit in a report on Sunday, July 17th. Goldman Sachs Group Inc. reissued a “neutral” rating and issued a $38.00 target price on shares of Markit in a report on Friday. Credit Suisse Group AG reissued a “neutral” rating and issued a $37.00 target price on shares of Markit in a report on Friday, July 15th. Finally, Zacks Investment Research raised Markit from a “strong sell” rating to a “hold” rating in a report on Wednesday, July 13th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and six have assigned a buy rating to the stock. Markit currently has a consensus rating of “Hold” and an average target price of $37.75.
The firm’s 50-day moving average price is $33.31 and its 200-day moving average price is $31.87. The company has a market cap of $6.26 billion and a P/E ratio of 55.79.
Markit (NASDAQ:INFO) last released its quarterly earnings results on Tuesday, May 10th. The company reported $0.35 earnings per share for the quarter, missing analysts’ consensus estimates of $0.36 by $0.01. The firm had revenue of $287.80 million for the quarter, compared to the consensus estimate of $293.62 million. The company’s quarterly revenue was up 6.0% compared to the same quarter last year. During the same period last year, the firm posted $0.36 EPS. On average, analysts forecast that Markit Ltd. will post $1.75 earnings per share for the current year.
In related news, CEO Jerre L. Stead sold 72,000 shares of Markit stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $35.65, for a total value of $2,566,800.00. Following the transaction, the chief executive officer now directly owns 733,380 shares of the company’s stock, valued at $26,144,997. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William E. Ford sold 7,001,911 shares of Markit stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $35.69, for a total transaction of $249,898,203.59. The disclosure for this sale can be found here.
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. The Company’s business is organized in three segments: Information, Processing and Solutions.
Get Analysts' Upgrades and Downgrades Daily - Enter your email address below to receive a concise daily summary of analysts' upgrades, downgrades and new coverage with MarketBeat.com's FREE daily email newsletter.