Markit (NASDAQ: INFO) recently received a number of ratings updates from brokerages and research firms:
- 9/28/2016 – Markit had its “buy” rating reaffirmed by analysts at BMO Capital Markets. They now have a $41.00 price target on the stock.
- 9/28/2016 – Markit was given a new $34.00 price target on by analysts at Morgan Stanley. They now have a “sell” rating on the stock.
- 9/28/2016 – Markit was given a new $42.00 price target on by analysts at RBC Capital Markets. They now have a “buy” rating on the stock.
- 9/27/2016 – Markit was downgraded by analysts at TheStreet from a “buy” rating to a “hold” rating.
- 9/26/2016 – Markit was upgraded by analysts at Zacks Investment Research from a “hold” rating to a “strong-buy” rating. They now have a $42.00 price target 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. “
- 9/16/2016 – Markit was upgraded by analysts at Robert W. Baird from a “neutral” rating to an “outperform” rating. They now have a $41.00 price target on the stock, up previously from $39.00.
- 9/16/2016 – Markit was upgraded by analysts at Barclays PLC from a “neutral” rating to an “outperform” rating.
- 8/29/2016 – Markit had its “overweight” rating reaffirmed by analysts at Piper Jaffray Cos.. They now have a $43.00 price target on the stock.
- 8/26/2016 – Markit had its price target raised by analysts at BMO Capital Markets from $41.00 to $43.00. They now have an “outperform” rating on the stock. They wrote, “While management reiterated its prior targets of $125 million in annualized cost savings and $100 million in annualized revenue synergies by F2019, we believe the slope of reaching these targets could occur earlier than expected,” analyst Jeffrey Silber wrote in a note.Notably, the company has already begun to generate small revenue synergies in just the few weeks as a combined entity.Silber said management repeated its long-term targets of mid-single-digit revenue growth and low- to mid-40 percent EBITDA margins. In addition, it was “adamant” about hitting its F2017 adjusted EPS goal of 20 percent growth (about $2.08) and mid-teens growth thereafter.Related Link: Jilted Lovers: Investors Are Souring On Defensive Sector ETFs”We believe the combined company is much better protected in the next economic downturn, as the major end-markets — financial services, automotive and energy — may have their own cycles and we likely have already been through the energy downturn,”
- 8/25/2016 – Markit is now covered by analysts at Macquarie. They set a “neutral” rating and a $39.00 price target on the stock.
- 8/19/2016 – Markit had its “hold” rating reaffirmed by analysts at Cantor Fitzgerald.
- 8/17/2016 – Markit was upgraded by analysts at Piper Jaffray Cos. from a “neutral” rating to an “overweight” rating. They now have a $43.00 price target on the stock.
- 8/15/2016 – Markit was upgraded by analysts at TheStreet from a “hold” rating to a “buy” rating.
Markit Ltd. (NASDAQ:INFO) traded up 0.64% during trading on Friday, hitting $37.55. 3,143,882 shares of the stock were exchanged. The stock has a market cap of $6.60 billion, a P/E ratio of 58.76 and a beta of 0.94. Markit Ltd. has a 52 week low of $26.01 and a 52 week high of $37.83. The stock has a 50 day moving average of $36.65 and a 200-day moving average of $34.61.
Markit (NASDAQ:INFO) last posted its quarterly earnings data 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 period in the previous year, the firm posted $0.36 EPS. The firm’s revenue was up 29.9% compared to the same quarter last year. Equities analysts expect that Markit Ltd. will post $1.75 EPS for the current fiscal year.
In other news, Director William E. Ford sold 7,001,911 shares of Markit stock in a transaction on Wednesday, July 20th. The shares were sold at an average price of $35.69, for a total transaction of $249,898,203.59. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William E. Ford sold 3,000,000 shares of Markit stock in a transaction on Tuesday, August 9th. The stock was sold at an average price of $35.05, for a total transaction of $105,150,000.00. The disclosure for this sale can be found here.
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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