IHS Markit (NYSE:INFO) Shares Gap Up Following Earnings Beat

IHS Markit Ltd (NYSE:INFO) gapped up before the market opened on Wednesday following a better than expected earnings announcement. The stock had previously closed at $66.66, but opened at $58.30. IHS Markit shares last traded at $59.17, with a volume of 1,939,249 shares.

The business services provider reported $0.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.64 by $0.02. IHS Markit had a return on equity of 10.94% and a net margin of 19.74%. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.08 billion. During the same period in the previous year, the firm earned $0.60 earnings per share. The company’s revenue was up 3.3% on a year-over-year basis.

INFO has been the subject of several research analyst reports. Robert W. Baird reiterated an “outperform” rating and issued a $69.00 price objective (up from $64.00) on shares of IHS Markit in a research report on Wednesday. BMO Capital Markets dropped their target price on shares of IHS Markit from $77.00 to $62.00 and set a “market perform” rating on the stock in a report on Wednesday. SunTrust Banks cut their price target on shares of IHS Markit from $90.00 to $65.00 and set a “buy” rating on the stock in a research note on Wednesday. Royal Bank of Canada reduced their price target on shares of IHS Markit from $85.00 to $72.00 and set an “outperform” rating for the company in a report on Wednesday. Finally, Morgan Stanley lowered their price objective on shares of IHS Markit from $60.00 to $55.00 and set an “underweight” rating for the company in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and fourteen have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus target price of $70.94.

In other news, EVP Jonathan Gear sold 16,191 shares of the company’s stock in a transaction dated Thursday, January 16th. The stock was sold at an average price of $80.08, for a total transaction of $1,296,575.28. Following the completion of the transaction, the executive vice president now directly owns 151,960 shares of the company’s stock, valued at $12,168,956.80. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, EVP Edouard Tavernier sold 1,370 shares of the company’s stock in a transaction dated Tuesday, February 18th. The stock was sold at an average price of $80.34, for a total value of $110,065.80. Following the transaction, the executive vice president now directly owns 28,648 shares of the company’s stock, valued at $2,301,580.32. The disclosure for this sale can be found here. Insiders have sold 1,801,216 shares of company stock valued at $141,958,771 over the last ninety days. 0.75% of the stock is owned by insiders.

Hedge funds have recently bought and sold shares of the company. Quadrant Capital Group LLC boosted its position in IHS Markit by 66.0% during the fourth quarter. Quadrant Capital Group LLC now owns 2,274 shares of the business services provider’s stock valued at $162,000 after purchasing an additional 904 shares during the last quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main grew its stake in IHS Markit by 45.5% in the fourth quarter. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main now owns 21,100 shares of the business services provider’s stock valued at $1,578,000 after purchasing an additional 6,600 shares in the last quarter. Engrave Wealth Partners LLC acquired a new position in shares of IHS Markit during the 4th quarter worth approximately $32,000. Norges Bank acquired a new position in shares of IHS Markit during the 4th quarter worth approximately $254,523,000. Finally, Sunbelt Securities Inc. bought a new stake in shares of IHS Markit during the 4th quarter worth approximately $14,128,000. 91.11% of the stock is owned by institutional investors.

The company has a market cap of $24.78 billion, a P/E ratio of 27.45, a PEG ratio of 2.07 and a beta of 0.87. The company has a current ratio of 0.70, a quick ratio of 0.66 and a debt-to-equity ratio of 0.59. The business has a 50 day moving average price of $69.26 and a 200-day moving average price of $71.59.

IHS Markit Company Profile (NYSE:INFO)

IHS Markit Ltd. provides critical information, analytics, and solutions for various industries and markets that drive economies worldwide. The company's information, analytics, and solutions enhance operational efficiency and offer deep insights for customers in business, finance, and government.

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