$1.08 Billion in Sales Expected for IHS Markit Ltd (INFO) This Quarter

Wall Street analysts expect IHS Markit Ltd (NASDAQ:INFO) to announce sales of $1.08 billion for the current fiscal quarter, Zacks Investment Research reports. Eight analysts have made estimates for IHS Markit’s earnings. The lowest sales estimate is $1.07 billion and the highest is $1.09 billion. IHS Markit posted sales of $944.70 million in the same quarter last year, which suggests a positive year-over-year growth rate of 14.3%. The business is scheduled to issue its next earnings results on Tuesday, January 15th.

On average, analysts expect that IHS Markit will report full-year sales of $4.02 billion for the current year, with estimates ranging from $4.01 billion to $4.03 billion. For the next year, analysts anticipate that the company will post sales of $4.49 billion, with estimates ranging from $4.44 billion to $4.53 billion. Zacks Investment Research’s sales averages are an average based on a survey of analysts that that provide coverage for IHS Markit.

IHS Markit (NASDAQ:INFO) last posted its earnings results on Tuesday, September 25th. The business services provider reported $0.58 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.55 by $0.03. IHS Markit had a net margin of 14.57% and a return on equity of 9.55%. The firm had revenue of $1 billion during the quarter, compared to the consensus estimate of $991.05 million. During the same period last year, the firm posted $0.57 EPS. The firm’s revenue for the quarter was up 10.6% on a year-over-year basis.

Several research firms have weighed in on INFO. BidaskClub downgraded shares of IHS Markit from a “buy” rating to a “hold” rating in a report on Friday, August 24th. Morgan Stanley set a $46.00 target price on shares of IHS Markit and gave the company a “sell” rating in a report on Monday, October 15th. Stifel Nicolaus raised their target price on shares of IHS Markit from $54.00 to $57.00 and gave the company a “hold” rating in a report on Wednesday, September 26th. JPMorgan Chase & Co. raised their target price on shares of IHS Markit from $51.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, September 27th. Finally, BMO Capital Markets lifted their price target on shares of IHS Markit from $57.00 to $60.00 and gave the stock an “outperform” rating in a report on Tuesday, September 4th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and eleven have issued a buy rating to the company. The company currently has an average rating of “Buy” and an average target price of $58.00.

In other news, CFO Todd S. Hyatt sold 14,517 shares of IHS Markit stock in a transaction dated Monday, October 1st. The shares were sold at an average price of $54.01, for a total transaction of $784,063.17. Following the completion of the sale, the chief financial officer now directly owns 341,598 shares in the company, valued at $18,449,707.98. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 2.68% of the company’s stock.

Several hedge funds and other institutional investors have recently modified their holdings of INFO. Swiss National Bank grew its holdings in IHS Markit by 3.1% in the second quarter. Swiss National Bank now owns 1,319,657 shares of the business services provider’s stock valued at $68,081,000 after purchasing an additional 39,800 shares during the period. Federated Investors Inc. PA grew its holdings in IHS Markit by 3,780.2% in the second quarter. Federated Investors Inc. PA now owns 369,046 shares of the business services provider’s stock valued at $19,039,000 after purchasing an additional 359,535 shares during the period. Bank of America Corp DE grew its holdings in IHS Markit by 57.2% in the second quarter. Bank of America Corp DE now owns 2,788,798 shares of the business services provider’s stock valued at $143,874,000 after purchasing an additional 1,015,032 shares during the period. Chartwell Investment Partners LLC grew its holdings in IHS Markit by 65.6% in the second quarter. Chartwell Investment Partners LLC now owns 54,155 shares of the business services provider’s stock valued at $2,794,000 after purchasing an additional 21,455 shares during the period. Finally, Korea Investment CORP grew its holdings in IHS Markit by 966.2% in the second quarter. Korea Investment CORP now owns 50,430 shares of the business services provider’s stock valued at $2,602,000 after purchasing an additional 45,700 shares during the period. Institutional investors and hedge funds own 96.22% of the company’s stock.

NASDAQ:INFO opened at $53.78 on Friday. The company has a quick ratio of 0.43, a current ratio of 0.43 and a debt-to-equity ratio of 0.62. IHS Markit has a twelve month low of $42.55 and a twelve month high of $55.99. The stock has a market cap of $20.61 billion, a price-to-earnings ratio of 32.01, a price-to-earnings-growth ratio of 2.67 and a beta of 0.74.

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.

Read More: What are defining characteristics of a correction?

Get a free copy of the Zacks research report on IHS Markit (INFO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

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

Receive News & Ratings for IHS Markit Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for IHS Markit and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply