$912.58 Million in Sales Expected for IHS Markit Ltd. (INFO) This Quarter
Brokerages expect that IHS Markit Ltd. (NASDAQ:INFO) will announce sales of $912.58 million for the current fiscal quarter, Zacks reports. Seven analysts have provided estimates for IHS Markit’s earnings. The lowest sales estimate is $894.97 million and the highest is $917.60 million. IHS Markit posted sales of $873.80 million in the same quarter last year, which would indicate a positive year-over-year growth rate of 4.4%. The company is expected to announce its next quarterly earnings report on Tuesday, January 16th.
According to Zacks, analysts expect that IHS Markit will report full-year sales of $912.58 million for the current financial year, with estimates ranging from $3.55 billion to $3.57 billion. For the next year, analysts expect that the firm will report sales of $3.80 billion per share, with estimates ranging from $3.79 billion to $3.82 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for IHS Markit.
IHS Markit (NASDAQ:INFO) last released its earnings results on Tuesday, September 26th. The business services provider reported $0.57 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.53 by $0.04. The company had revenue of $904.70 million for the quarter, compared to analyst estimates of $890.99 million. IHS Markit had a net margin of 11.35% and a return on equity of 8.79%. The firm’s quarterly revenue was up 24.9% on a year-over-year basis. During the same period in the prior year, the business earned $0.45 EPS.
A number of equities research analysts have issued reports on INFO shares. Goldman Sachs Group, Inc. (The) started coverage on shares of IHS Markit in a report on Wednesday, November 8th. They set a “buy” rating and a $55.00 target price on the stock. Bank of America Corporation reduced their price objective on shares of IHS Markit from $52.00 to $50.00 and set a “buy” rating on the stock in a report on Wednesday, September 27th. Cantor Fitzgerald restated a “hold” rating and issued a $45.00 price objective on shares of IHS Markit in a report on Tuesday, September 26th. Zacks Investment Research upgraded shares of IHS Markit from a “sell” rating to a “hold” rating in a report on Tuesday, August 29th. Finally, SunTrust Banks, Inc. raised their price objective on shares of IHS Markit to $48.00 and gave the company a “hold” rating in a report on Tuesday, November 14th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $47.46.
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In other IHS Markit news, CFO Todd S. Hyatt sold 20,000 shares of the firm’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $44.20, for a total transaction of $884,000.00. The sale was disclosed in a filing with the SEC, which is available through this hyperlink.
Several large investors have recently modified their holdings of INFO. Dupont Capital Management Corp purchased a new stake in shares of IHS Markit in the second quarter valued at about $120,000. Zions Bancorporation purchased a new stake in shares of IHS Markit in the third quarter valued at about $126,000. ETF Managers Group LLC purchased a new stake in shares of IHS Markit in the second quarter valued at about $135,000. Huntington National Bank purchased a new stake in shares of IHS Markit in the third quarter valued at about $173,000. Finally, Flinton Capital Management LLC purchased a new stake in shares of IHS Markit in the second quarter valued at about $180,000. 98.72% of the stock is currently owned by institutional investors and hedge funds.
IHS Markit (NASDAQ INFO) traded up $0.20 during trading on Thursday, reaching $43.43. 1,470,800 shares of the company’s stock were exchanged, compared to its average volume of 2,652,857. The firm has a market cap of $17,244.16, a price-to-earnings ratio of 26.68, a PEG ratio of 2.36 and a beta of 0.82. IHS Markit has a 12 month low of $34.20 and a 12 month high of $48.53. The company has a debt-to-equity ratio of 0.44, a quick ratio of 0.53 and a current ratio of 0.53.
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.
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