Markit Ltd. (NASDAQ:INFO) updated its FY16 earnings guidance on Tuesday. The company provided earnings per share guidance of $1.72-1.78 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $1.75. The company issued revenue guidance of $2.74-2.77 billion, compared to the consensus revenue estimate of $2.75 billion.
A number of brokerages have weighed in on INFO. Deutsche Bank AG raised Markit to a buy rating in a research report on Sunday, July 17th. William Blair restated an outperform rating on shares of Markit in a report on Sunday, July 17th. Zacks Investment Research upgraded Markit from a hold rating to a strong-buy rating and set a $42.00 price objective for the company in a report on Monday. Barclays PLC boosted their price objective on Markit from $35.00 to $38.00 and gave the stock an equal weight rating in a report on Monday, July 25th. Finally, Credit Suisse Group AG restated a neutral rating and set a $37.00 price objective on shares of Markit in a report on Friday, July 15th. One 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 stock. The company presently has a consensus rating of Buy and a consensus target price of $39.01.
Markit Ltd. (NASDAQ:INFO) opened at 36.25 on Tuesday. The firm has a market capitalization of $6.37 billion, a P/E ratio of 56.73 and a beta of 0.94. The firm’s 50-day moving average is $36.52 and its 200 day moving average is $34.53. Markit Ltd. has a 12 month low of $26.01 and a 12 month high of $37.83.
Markit (NASDAQ:INFO) last posted its quarterly earnings data 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. The firm earned $724.60 million during the quarter, compared to analyst estimates of $727.79 million. Markit had a net margin of 9.00% and a return on equity of 8.65%. The company’s revenue for the quarter was up 29.9% on a year-over-year basis. During the same quarter last year, the business posted $0.36 EPS. On average, analysts expect that Markit Ltd. will post $1.75 EPS for the current fiscal year.
In other Markit news, EVP Shane Akeroyd sold 15,000 shares of the stock in a transaction dated Tuesday, August 9th. The shares were sold at an average price of $35.04, for a total value of $525,600.00. Following the completion of the sale, the executive vice president now owns 80,706 shares in the company, valued at approximately $2,827,938.24. The transaction was disclosed in a document filed 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 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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