Markit Ltd. (NASDAQ:INFO) received a $34.00 price target from analysts at Morgan Stanley in a research note issued on Wednesday. The firm presently has a a “sell” rating on the stock. Morgan Stanley’s target price indicates a potential downside of 8.87% from the stock’s current price.
A number of other brokerages have also recently commented on INFO. Deutsche Bank AG raised Markit from a “hold” rating to a “buy” rating and upped their price target for the company from $37.00 to $42.00 in a research note on Friday, July 15th. Zacks Investment Research raised Markit from a “strong sell” rating to a “hold” rating in a research note on Wednesday, July 13th. BMO Capital Markets reaffirmed a “buy” rating and issued a $41.00 price target on shares of Markit in a research note on Wednesday. TheStreet cut Markit from a “buy” rating to a “hold” rating in a research note on Wednesday, July 13th. Finally, Cantor Fitzgerald reaffirmed a “hold” rating on shares of Markit in a research note on Friday, August 19th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating, nine have assigned a buy rating and one has given a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $39.08.
Markit (NASDAQ:INFO) opened at 37.31 on Wednesday. The company’s 50-day moving average is $36.65 and its 200 day moving average is $34.61. Markit has a 12 month low of $26.01 and a 12 month high of $37.83. The company has a market cap of $6.55 billion, a price-to-earnings ratio of 58.39 and a beta of 0.94.
Markit (NASDAQ:INFO) last announced its quarterly earnings data on Tuesday, September 27th. The company reported $0.45 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.01. The firm earned $724.60 million during the quarter, compared to analysts’ expectations of $557.90 million. Markit had a return on equity of 10.66% and a net margin of 4.06%. The company’s quarterly revenue was up 29.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.36 EPS. Equities analysts forecast that Markit will post $1.76 earnings per share for the current fiscal year.
In other news, CEO Jerre L. Stead sold 70,000 shares of the stock in a transaction that occurred on Monday, July 18th. The stock was sold at an average price of $35.05, for a total value of $2,453,500.00. Following the completion of the sale, the chief executive officer now owns 843,380 shares of the company’s stock, valued at approximately $29,560,469. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, 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 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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