Zacks Investment Research upgraded shares of Markit Ltd. (NASDAQ:INFO) from a hold rating to a strong-buy rating in a research report sent to investors on Monday morning. Zacks Investment Research currently has $42.00 target price on the stock.
According to Zacks, “IHS Markit Ltd. provides information, analytics and solutions to customers. It serves business, finance and government. IHS Markit Ltd., formerly known as Markit Ltd., is based in LONDON, United Kingdom. “
Several other research analysts have also recently weighed in on the stock. TheStreet upgraded shares of Markit from a hold rating to a buy rating in a report on Monday, June 20th. Deutsche Bank AG upgraded shares of Markit to a buy rating in a report on Sunday, July 17th. BMO Capital Markets reiterated a buy rating and issued a $41.00 price target on shares of Markit in a report on Monday, July 18th. Bank of America Corp. began coverage on shares of Markit in a report on Friday, July 15th. They issued a buy rating and a $40.00 price target for the company. Finally, Barclays PLC upped their price target on shares of Markit from $35.00 to $38.00 and gave the company an equal weight rating in a report on Monday, July 25th. One analyst has rated the stock with a sell rating, seven have given a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Markit has a consensus rating of Buy and a consensus price target of $39.01.
Markit (NASDAQ:INFO) opened at 36.25 on Monday. The company has a market cap of $6.37 billion, a P/E ratio of 56.73 and a beta of 0.94. Markit has a one year low of $26.01 and a one year high of $37.83. The company has a 50-day moving average of $36.52 and a 200 day moving average of $34.53.
Markit (NASDAQ:INFO) last issued its earnings results on Tuesday, September 27th. The company reported $0.45 EPS for the quarter, beating the Thomson Reuters’ 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 firm earned $724.60 million during the quarter, compared to the consensus estimate of $727.79 million. During the same quarter in the prior year, the firm earned $0.36 earnings per share. The business’s quarterly revenue was up 29.9% on a year-over-year basis. Equities research analysts predict that Markit will post $1.75 EPS for the current year.
In other news, EVP Jonathan Gear sold 15,000 shares of the stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $36.00, for a total value of $540,000.00. Following the transaction, the executive vice president now directly owns 319,287 shares of the company’s stock, valued at $11,494,332. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director William E. Ford sold 7,001,911 shares of the stock in a transaction dated Wednesday, July 20th. The shares were 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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