Markit Ltd. (INFO) Receives Buy Rating from BMO Capital Markets
Several other equities research analysts also recently issued reports on the stock. TheStreet upgraded shares of Markit from a hold rating to a buy rating in a research report on Monday, June 20th. Royal Bank Of Canada raised their price objective on shares of Markit from $35.00 to $36.00 and gave the stock a sector perform rating in a research report on Wednesday, June 29th. Zacks Investment Research upgraded shares of Markit from a strong sell rating to a hold rating in a research report on Wednesday, July 13th. Stifel Nicolaus downgraded shares of Markit from a buy rating to a hold rating in a research report on Thursday, July 14th. Finally, Bank of America Corp. began coverage on shares of Markit in a research report on Friday, July 15th. They set a buy rating and a $40.00 price objective for the company. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have issued a buy rating to the company’s stock. The stock has an average rating of Hold and a consensus price target of $39.08.
Shares of Markit (NASDAQ:INFO) opened at 37.52 on Wednesday. Markit has a 52-week low of $26.01 and a 52-week high of $37.83. The company’s 50-day moving average price is $36.77 and its 200-day moving average price is $34.81. The company has a market capitalization of $6.59 billion, a price-to-earnings ratio of 58.72 and a beta of 0.94.
Markit (NASDAQ:INFO) last issued its earnings results on Tuesday, September 27th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.44 by $0.01. Markit had a net margin of 4.06% and a return on equity of 10.66%. The business earned $724.60 million during the quarter, compared to the consensus estimate of $557.90 million. During the same period last year, the business posted $0.36 EPS. Markit’s revenue was up 29.9% on a year-over-year basis. Equities research analysts forecast that Markit will post $1.75 EPS for the current fiscal year.
In related news, CEO Jerre L. Stead sold 70,000 shares of Markit stock in a transaction that occurred on Monday, July 18th. The shares were sold at an average price of $35.05, for a total value of $2,453,500.00. Following the transaction, the chief executive officer now directly owns 843,380 shares of the company’s stock, valued at $29,560,469. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Jerre L. Stead sold 145,753 shares of Markit stock in a transaction that occurred on Thursday, September 29th. The shares were sold at an average price of $36.96, for a total transaction of $5,387,030.88. Following the completion of the transaction, the chief executive officer now directly owns 587,627 shares in the company, valued at $21,718,693.92. 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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