Morgan Stanley Reiterates $34.00 Price Target for Markit Ltd. (INFO)
Other equities research analysts also recently issued research reports about the company. William Blair reissued an outperform rating on shares of Markit in a report on Sunday, July 17th. Deutsche Bank AG raised Markit to a buy rating in a report on Sunday, July 17th. Barclays PLC raised their price objective on Markit from $35.00 to $38.00 and gave the company an equal weight rating in a report on Monday, July 25th. Credit Suisse Group AG reissued a neutral rating and set a $37.00 price objective 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. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and nine have given a buy rating to the stock. Markit currently has an average rating of Hold and a consensus target price of $39.08.
Shares of Markit (NASDAQ:INFO) opened at 37.55 on Wednesday. Markit has a one year low of $26.01 and a one year high of $37.83. The firm has a 50 day moving average price of $36.70 and a 200 day moving average price of $34.67. The company has a market capitalization of $6.60 billion, a P/E ratio of 58.76 and a beta of 0.94.
Markit (NASDAQ:INFO) last released its quarterly earnings data on Tuesday, September 27th. The company reported $0.45 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.01. Markit had a return on equity of 10.66% and a net margin of 4.06%. The company had revenue of $724.60 million for the quarter, compared to the consensus estimate of $557.90 million. During the same quarter last year, the business posted $0.36 EPS. Markit’s revenue for the quarter was up 29.9% on a year-over-year basis. On average, equities research analysts predict that Markit will post $1.75 EPS for the current fiscal year.
In related news, CEO Jerre L. Stead sold 70,000 shares of the business’s stock in a transaction dated Monday, July 18th. The stock was sold at an average price of $35.05, for a total value of $2,453,500.00. Following the completion of the sale, the chief executive officer now directly owns 843,380 shares of the company’s stock, valued at approximately $29,560,469. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jonathan Gear sold 15,000 shares of the business’s stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $36.00, for a total value of $540,000.00. Following the completion of the sale, the executive vice president now directly owns 319,287 shares of the company’s stock, valued at $11,494,332. 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.
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