Wall Street brokerages expect IHS Markit Ltd. (NYSE:INFO) to report $1.16 billion in sales for the current fiscal quarter, according to Zacks Investment Research. Two analysts have issued estimates for IHS Markit’s earnings. The lowest sales estimate is $1.15 billion and the highest is $1.16 billion. IHS Markit reported sales of $1.12 billion during the same quarter last year, which indicates a positive year over year growth rate of 3.6%. The business is expected to announce its next earnings report on Tuesday, March 22nd.
According to Zacks, analysts expect that IHS Markit will report full year sales of $4.83 billion for the current fiscal year, with estimates ranging from $4.77 billion to $4.88 billion. For the next fiscal year, analysts forecast that the business will report sales of $5.12 billion, with estimates ranging from $5.08 billion to $5.17 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that cover IHS Markit.
IHS Markit (NYSE:INFO) last announced its quarterly earnings data on Thursday, January 20th. The business services provider reported $0.85 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.02. The firm had revenue of $1.18 billion during the quarter, compared to analyst estimates of $1.14 billion. IHS Markit had a net margin of 25.91% and a return on equity of 12.16%. The business’s quarterly revenue was up 6.2% on a year-over-year basis. During the same period in the previous year, the business posted $0.61 EPS.
INFO has been the subject of a number of recent analyst reports. BMO Capital Markets lowered their price target on shares of IHS Markit from $142.00 to $118.00 and set a “market perform” rating for the company in a report on Monday, January 24th. Morgan Stanley lowered their price target on shares of IHS Markit from $149.00 to $140.00 and set an “overweight” rating for the company in a report on Monday, January 24th. Two equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and an average price target of $122.80.
Shares of INFO opened at $116.76 on Monday. The firm has a 50 day moving average price of $125.98 and a 200-day moving average price of $123.31. IHS Markit has a fifty-two week low of $88.44 and a fifty-two week high of $135.82. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.68 and a current ratio of 0.68. The firm has a market cap of $46.60 billion, a price-to-earnings ratio of 38.92 and a beta of 1.05.
The business also recently disclosed a quarterly dividend, which will be paid on Friday, February 11th. Shareholders of record on Friday, January 28th will be given a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a yield of 0.69%. The ex-dividend date of this dividend is Thursday, January 27th. IHS Markit’s payout ratio is currently 26.67%.
In other news, CAO Michael M. Easton sold 5,632 shares of the company’s stock in a transaction dated Wednesday, February 2nd. The shares were sold at an average price of $118.08, for a total value of $665,026.56. The transaction was disclosed in a filing with the SEC, which is available through this link. 0.56% of the stock is currently owned by insiders.
Several large investors have recently added to or reduced their stakes in the company. Wintrust Investments LLC bought a new position in IHS Markit in the 4th quarter worth about $1,107,000. Arena Investors LP bought a new position in IHS Markit in the 4th quarter worth about $6,456,000. Mercer Global Advisors Inc. ADV boosted its stake in IHS Markit by 10.1% in the 4th quarter. Mercer Global Advisors Inc. ADV now owns 8,173 shares of the business services provider’s stock worth $1,086,000 after purchasing an additional 750 shares in the last quarter. Kentucky Retirement Systems Insurance Trust Fund boosted its stake in IHS Markit by 4.1% in the 4th quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 10,564 shares of the business services provider’s stock worth $1,404,000 after purchasing an additional 416 shares in the last quarter. Finally, Kentucky Retirement Systems boosted its stake in IHS Markit by 6.3% in the 4th quarter. Kentucky Retirement Systems now owns 24,124 shares of the business services provider’s stock worth $3,207,000 after purchasing an additional 1,420 shares in the last quarter. 88.23% of the stock is currently owned by hedge funds and other institutional investors.
About IHS Markit
IHS Markit Ltd. engages in the provision of information, analytics, and solutions to customers in the business, finance, and government sectors. It operates through the following segments: Financial Services, Transportation, Resources, and Consolidated Markets and Solutions. The Financial Services segment consists of pricing and reference data, indices product portfolio, valuation, and research, sales, and trading activities.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to [email protected]
Before you consider IHS Markit, you’ll want to hear this.
MarketBeat keeps track of Wall Street’s top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on… and IHS Markit wasn’t on the list.
While IHS Markit currently has a “Buy” rating among analysts, top-rated analysts believe these five stocks are better buys.