A number of other equities research analysts also recently issued reports on INFO. 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 increased their target price 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 issued a buy rating and a $40.00 target price for the company. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, nine have issued a buy rating and one has issued a strong buy rating to the company. The company has an average rating of Buy and a consensus target price of $39.08.
Shares of Markit (NASDAQ:INFO) traded up 1.06% during trading on Wednesday, reaching $37.17. 2,428,292 shares of the company’s stock were exchanged. The company has a 50 day moving average of $36.58 and a 200 day moving average of $34.59. Markit has a 52-week low of $26.01 and a 52-week high of $37.83. The firm has a market capitalization of $6.53 billion, a P/E ratio of 58.17 and a beta of 0.94.
Markit (NASDAQ:INFO) last released its earnings results on Tuesday, September 27th. The company reported $0.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.44 by $0.01. Markit had a net margin of 4.06% and a return on equity of 10.66%. The company earned $724.60 million during the quarter, compared to the consensus estimate of $557.90 million. During the same quarter in the prior year, the firm earned $0.36 EPS. The company’s revenue was up 29.9% compared to the same quarter last year. Equities analysts anticipate that Markit will post $1.76 earnings per share for the current fiscal year.
In other Markit news, EVP Jonathan Gear sold 15,000 shares of the firm’s stock in a transaction on Friday, July 15th. The shares were sold at an average price of $36.00, for a total value of $540,000.00. Following the sale, the executive vice president now directly owns 319,287 shares in the company, valued at approximately $11,494,332. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director William E. Ford sold 7,001,911 shares of the firm’s stock in a transaction on Wednesday, July 20th. The stock was sold at an average price of $35.69, for a total transaction of $249,898,203.59. The disclosure for this sale can be found here.
Markit Company Profile
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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