Brokerages expect IHS Markit Ltd (NASDAQ:INFO) to announce sales of $961.07 million for the current fiscal quarter, according to Zacks Investment Research. Seven analysts have made estimates for IHS Markit’s earnings. The highest sales estimate is $964.40 million and the lowest is $956.70 million. IHS Markit reported sales of $904.70 million during the same quarter last year, which indicates a positive year over year growth rate of 6.2%. The business is expected to issue its next quarterly earnings results before the market opens on Tuesday, September 25th.

On average, analysts expect that IHS Markit will report full year sales of $3.90 billion for the current year, with estimates ranging from $3.89 billion to $3.91 billion. For the next year, analysts anticipate that the firm will report sales of $4.13 billion per share, with estimates ranging from $4.10 billion to $4.15 billion. Zacks Investment Research’s sales averages are a mean average based on a survey of sell-side research analysts that that provide coverage for IHS Markit.

IHS Markit (NASDAQ:INFO) last posted its quarterly earnings results on Tuesday, June 26th. The business services provider reported $0.61 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.57 by $0.04. IHS Markit had a net margin of 16.03% and a return on equity of 9.68%. The company had revenue of $1.01 billion for the quarter, compared to analyst estimates of $974.12 million. During the same quarter in the previous year, the firm posted $0.52 earnings per share. The company’s quarterly revenue was up 11.3% compared to the same quarter last year.

Several research firms have recently issued reports on INFO. Morgan Stanley set a $49.00 price target on shares of IHS Markit and gave the company a “sell” rating in a research report on Thursday. BidaskClub raised shares of IHS Markit from a “hold” rating to a “buy” rating in a report on Wednesday, September 5th. BMO Capital Markets upped their target price on shares of IHS Markit from $57.00 to $60.00 and gave the stock an “outperform” rating in a report on Tuesday, September 4th. ValuEngine raised shares of IHS Markit from a “hold” rating to a “buy” rating in a report on Monday, July 2nd. Finally, Zacks Investment Research lowered shares of IHS Markit from a “buy” rating to a “hold” rating in a report on Thursday, June 28th. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and twelve have given a buy rating to the stock. The company has a consensus rating of “Buy” and a consensus target price of $55.77.

In other IHS Markit news, EVP Sari Beth Granat sold 24,900 shares of the business’s stock in a transaction that occurred on Thursday, July 12th. The shares were sold at an average price of $53.00, for a total value of $1,319,700.00. Following the completion of the transaction, the executive vice president now owns 50,480 shares of the company’s stock, valued at approximately $2,675,440. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director William E. Ford sold 2,000,000 shares of the business’s stock in a transaction that occurred on Thursday, July 5th. The stock was sold at an average price of $52.05, for a total transaction of $104,100,000.00. Following the completion of the transaction, the director now directly owns 15,907 shares of the company’s stock, valued at approximately $827,959.35. The disclosure for this sale can be found here. Insiders have sold a total of 2,050,000 shares of company stock worth $106,724,750 in the last ninety days. 2.68% of the stock is currently owned by insiders.

A number of hedge funds have recently added to or reduced their stakes in the business. Edgewood Management LLC grew its stake in IHS Markit by 2.4% in the 2nd quarter. Edgewood Management LLC now owns 18,493,151 shares of the business services provider’s stock worth $954,062,000 after buying an additional 439,429 shares in the last quarter. FMR LLC grew its stake in IHS Markit by 10.0% in the 2nd quarter. FMR LLC now owns 16,933,612 shares of the business services provider’s stock worth $873,605,000 after buying an additional 1,539,362 shares in the last quarter. American Century Companies Inc. grew its stake in IHS Markit by 4.6% in the 2nd quarter. American Century Companies Inc. now owns 7,165,244 shares of the business services provider’s stock worth $369,655,000 after buying an additional 315,286 shares in the last quarter. Neuberger Berman Group LLC grew its stake in IHS Markit by 4.2% in the 1st quarter. Neuberger Berman Group LLC now owns 6,431,139 shares of the business services provider’s stock worth $310,238,000 after buying an additional 260,294 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its stake in IHS Markit by 0.9% in the 1st quarter. The Manufacturers Life Insurance Company now owns 6,422,058 shares of the business services provider’s stock worth $309,801,000 after buying an additional 58,592 shares in the last quarter. 97.12% of the stock is owned by institutional investors and hedge funds.

Shares of NASDAQ INFO traded down $0.46 during midday trading on Tuesday, hitting $54.99. The company’s stock had a trading volume of 39,818 shares, compared to its average volume of 1,206,570. IHS Markit has a one year low of $42.40 and a one year high of $55.99. The company has a quick ratio of 1.41, a current ratio of 1.41 and a debt-to-equity ratio of 0.56. The firm has a market cap of $21.58 billion, a P/E ratio of 32.77, a price-to-earnings-growth ratio of 2.59 and a beta of 0.77.

IHS Markit Company Profile

IHS Markit Ltd. provides critical information, analytics, and solutions for various industries and markets that drive economies worldwide. The company's information, analytics, and solutions enhance operational efficiency and offer deep insights for customers in business, finance, and government.

Further Reading: Return on Investment (ROI) Defined, Explained

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Earnings History and Estimates for IHS Markit (NASDAQ:INFO)

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