Markit Ltd. (NASDAQ:INFO) released its earnings results on Tuesday. The company reported $0.45 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.44 by $0.01. Markit had a net margin of 9.00% and a return on equity of 8.65%. The business had revenue of $724.60 million for the quarter, compared to analyst estimates of $2.75 billion.
Markit (NASDAQ:INFO) opened at 36.25 on Tuesday. The firm has a 50 day moving average of $36.52 and a 200 day moving average of $34.53. Markit has a 1-year low of $26.01 and a 1-year high of $37.83. The firm has a market cap of $6.37 billion, a P/E ratio of 56.73 and a beta of 0.94.
A number of research analysts have weighed in on the stock. Piper Jaffray Cos. reissued an “overweight” rating and issued a $43.00 target price on shares of Markit in a research note on Monday, August 29th. Macquarie assumed coverage on shares of Markit in a research note on Thursday, August 25th. They issued a “neutral” rating and a $39.00 target price on the stock. BMO Capital Markets raised their target price on shares of Markit from $41.00 to $43.00 and gave the stock an “outperform” rating in a research note on Friday, August 26th. Robert W. Baird raised shares of Markit from a “neutral” rating to an “outperform” rating and lifted their price target for the company from $39.00 to $41.00 in a research report on Friday, September 16th. Finally, Barclays PLC raised shares of Markit from a “neutral” rating to an “outperform” rating in a research report on Friday, September 16th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, ten have given a buy rating and one has given a strong buy rating to the company’s stock. The company has a consensus rating of “Buy” and a consensus target price of $39.01.
In other news, Director William E. Ford sold 7,001,911 shares of the stock in a transaction that occurred on Wednesday, July 20th. The shares were sold at an average price of $35.69, for a total value of $249,898,203.59. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Jerre L. Stead sold 70,000 shares of the stock in a transaction that occurred on Monday, July 18th. The shares were sold at an average price of $35.05, for a total transaction of $2,453,500.00. Following the completion of the sale, the chief executive officer now owns 843,380 shares in the company, valued at $29,560,469. 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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