Several other analysts also recently issued reports on INFO. TheStreet upgraded Markit from a hold rating to a buy rating in a report on Monday, June 20th. Royal Bank Of Canada increased their price target on Markit from $35.00 to $36.00 and gave the company a sector perform rating in a report on Wednesday, June 29th. Zacks Investment Research upgraded Markit from a strong sell rating to a hold rating in a report on Wednesday, July 13th. Stifel Nicolaus downgraded Markit from a buy rating to a hold rating in a report on Thursday, July 14th. Finally, Bank of America Corp. began coverage on shares of Markit in a research report on Friday, July 15th. They issued a buy rating and a $40.00 price objective for the company. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating and nine have given a buy rating to the company’s stock. The company presently has an average rating of Hold and a consensus price target of $39.08.
Shares of Markit (NASDAQ:INFO) opened at 37.55 on Wednesday. The stock has a market capitalization of $6.60 billion, a P/E ratio of 58.76 and a beta of 0.94. Markit has a one year low of $26.01 and a one year high of $37.83. The firm’s 50-day moving average price is $36.70 and its 200-day moving average price is $34.67.
Markit (NASDAQ:INFO) last announced its quarterly earnings results on Tuesday, September 27th. The company reported $0.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.44 by $0.01. Markit had a return on equity of 10.66% and a net margin of 4.06%. The firm earned $724.60 million during the quarter, compared to the consensus estimate of $557.90 million. During the same period in the prior year, the firm earned $0.36 EPS. The firm’s quarterly revenue was up 29.9% compared to the same quarter last year. Equities research analysts anticipate that Markit will post $1.75 EPS for the current fiscal year.
In other Markit news, EVP Shane Akeroyd sold 15,000 shares of the firm’s 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 transaction, the executive vice president now owns 80,706 shares of the company’s stock, valued at $2,827,938.24. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director William E. Ford sold 3,000,000 shares of the firm’s stock in a transaction dated 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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