Zacks: Analysts Anticipate IHS Markit Ltd (NASDAQ:INFO) Will Post Earnings of $0.63 Per Share

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Wall Street brokerages expect IHS Markit Ltd (NASDAQ:INFO) to announce earnings of $0.63 per share for the current quarter, according to Zacks. Eight analysts have made estimates for IHS Markit’s earnings. The lowest EPS estimate is $0.60 and the highest is $0.65. IHS Markit reported earnings of $0.58 per share during the same quarter last year, which suggests a positive year-over-year growth rate of 8.6%. The firm is expected to report its next earnings report on Tuesday, September 24th.

On average, analysts expect that IHS Markit will report full-year earnings of $2.57 per share for the current financial year, with EPS estimates ranging from $2.55 to $2.60. For the next financial year, analysts expect that the company will post earnings of $2.88 per share, with EPS estimates ranging from $2.83 to $2.94. Zacks’ EPS calculations are an average based on a survey of sell-side research firms that cover IHS Markit.

IHS Markit (NASDAQ:INFO) last posted its quarterly earnings data on Wednesday, June 26th. The business services provider reported $0.71 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.65 by $0.06. The company had revenue of $1.14 billion during the quarter, compared to analyst estimates of $1.14 billion. IHS Markit had a return on equity of 10.13% and a net margin of 10.49%. The firm’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter last year, the company earned $0.61 earnings per share.

Several equities research analysts have issued reports on INFO shares. Cantor Fitzgerald lowered Arrowhead Pharmaceuticals from an “overweight” rating to a “neutral” rating and set a $24.00 price target for the company. in a research note on Thursday, June 27th. Deutsche Bank set a $142.00 price target on MCCORMICK & CO /SH and gave the stock a “hold” rating in a research note on Friday, June 28th. BMO Capital Markets started coverage on Encompass Health in a research note on Thursday, June 27th. They set an “outperform” rating and a $72.00 price target for the company. SunTrust Banks dropped their price target on Focus Financial Partners and set a “hold” rating for the company in a research note on Thursday, June 27th. Finally, Piper Jaffray Companies lowered Pioneer Energy Services from an “overweight” rating to a “neutral” rating in a research note on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the stock. IHS Markit currently has an average rating of “Buy” and a consensus price target of $61.85.

NASDAQ:INFO traded up $0.44 during trading hours on Wednesday, hitting $65.49. 16,274 shares of the company’s stock traded hands, compared to its average volume of 1,796,672. The company has a current ratio of 0.66, a quick ratio of 0.66 and a debt-to-equity ratio of 0.58. The company has a fifty day moving average of $61.78. IHS Markit has a 52 week low of $44.52 and a 52 week high of $66.07. The company has a market cap of $26.09 billion, a price-to-earnings ratio of 32.98, a P/E/G ratio of 2.83 and a beta of 0.82.

In other news, EVP Sari Beth Granat sold 50,000 shares of IHS Markit stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $63.04, for a total value of $3,152,000.00. Following the transaction, the executive vice president now owns 86,141 shares in the company, valued at $5,430,328.64. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Todd S. Hyatt sold 40,000 shares of IHS Markit stock in a transaction dated Thursday, May 2nd. The stock was sold at an average price of $56.24, for a total value of $2,249,600.00. Following the completion of the transaction, the chief financial officer now owns 243,083 shares in the company, valued at approximately $13,670,987.92. The disclosure for this sale can be found here. In the last quarter, insiders sold 345,000 shares of company stock worth $21,701,600. Company insiders own 1.11% of the company’s stock.

Several institutional investors and hedge funds have recently added to or reduced their stakes in INFO. Comerica Securities Inc. purchased a new stake in shares of IHS Markit during the fourth quarter valued at approximately $315,000. Raymond James Financial Services Advisors Inc. purchased a new stake in shares of IHS Markit during the fourth quarter valued at approximately $203,000. Great West Life Assurance Co. Can increased its position in shares of IHS Markit by 7.3% during the fourth quarter. Great West Life Assurance Co. Can now owns 3,582 shares of the business services provider’s stock valued at $172,000 after acquiring an additional 244 shares during the last quarter. United Services Automobile Association increased its position in shares of IHS Markit by 0.9% during the fourth quarter. United Services Automobile Association now owns 114,661 shares of the business services provider’s stock valued at $5,500,000 after acquiring an additional 1,025 shares during the last quarter. Finally, Dimensional Fund Advisors LP increased its position in shares of IHS Markit by 4.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 168,650 shares of the business services provider’s stock valued at $8,090,000 after acquiring an additional 6,628 shares during the last quarter. Hedge funds and other institutional investors own 96.18% of the company’s stock.

About IHS Markit

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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Earnings History and Estimates for IHS Markit (NASDAQ:INFO)

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