IHS Markit (NASDAQ:INFO) Rating Lowered to Hold at Zacks Investment Research

IHS Markit (NASDAQ:INFO) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Wednesday, January 3rd. They presently have a $51.00 target price on the business services provider’s stock. Zacks Investment Research‘s price objective would suggest a potential upside of 6.54% from the stock’s current price.

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. “

A number of other analysts also recently issued reports on INFO. Morgan Stanley cut their target price on IHS Markit from $41.00 to $40.00 and set an “underweight” rating for the company in a research note on Wednesday, September 27th. Royal Bank of Canada cut their price objective on IHS Markit from $50.00 to $49.00 and set an “outperform” rating for the company in a research report on Wednesday, September 27th. Bank of America cut their price objective on IHS Markit from $52.00 to $50.00 and set a “buy” rating for the company in a research report on Wednesday, September 27th. BMO Capital Markets reissued an “outperform” rating and set a $50.00 price objective (down from $52.00) on shares of IHS Markit in a research report on Wednesday, September 27th. Finally, Wells Fargo & Co cut their price objective on IHS Markit from $52.00 to $50.00 and set an “outperform” rating for the company in a research report on Wednesday, September 27th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, nine have given a buy rating and one has given a strong buy rating to the company’s stock. The company currently has an average rating of “Buy” and a consensus target price of $49.07.

IHS Markit (INFO) opened at $47.87 on Wednesday. The company has a quick ratio of 0.53, a current ratio of 0.53 and a debt-to-equity ratio of 0.44. The firm has a market capitalization of $19,100.00, a price-to-earnings ratio of 47.87, a price-to-earnings-growth ratio of 2.28 and a beta of 0.83. IHS Markit has a fifty-two week low of $37.03 and a fifty-two week high of $48.53.

IHS Markit (NASDAQ:INFO) last announced its quarterly earnings data on Tuesday, January 16th. The business services provider reported $0.52 earnings per share for the quarter, beating analysts’ consensus estimates of $0.42 by $0.10. IHS Markit had a return on equity of 8.79% and a net margin of 11.35%. The company had revenue of $944.70 million for the quarter, compared to analyst estimates of $912.65 million. During the same quarter last year, the firm posted $0.48 EPS. The firm’s revenue for the quarter was up 8.1% on a year-over-year basis. equities research analysts forecast that IHS Markit will post 1.57 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in the company. BlackRock Inc. lifted its stake in IHS Markit by 104.2% during the second quarter. BlackRock Inc. now owns 20,763,308 shares of the business services provider’s stock worth $914,415,000 after purchasing an additional 10,593,627 shares during the last quarter. State Street Corp lifted its stake in IHS Markit by 269.2% during the second quarter. State Street Corp now owns 14,324,138 shares of the business services provider’s stock worth $630,974,000 after purchasing an additional 10,443,873 shares during the last quarter. Vanguard Group Inc. lifted its stake in IHS Markit by 23.1% during the second quarter. Vanguard Group Inc. now owns 32,906,495 shares of the business services provider’s stock worth $1,449,201,000 after purchasing an additional 6,171,840 shares during the last quarter. Janus Henderson Group PLC lifted its stake in IHS Markit by 8,621.2% during the second quarter. Janus Henderson Group PLC now owns 4,084,667 shares of the business services provider’s stock worth $179,889,000 after purchasing an additional 4,037,831 shares during the last quarter. Finally, BT Investment Management Ltd lifted its stake in IHS Markit by 156.3% during the third quarter. BT Investment Management Ltd now owns 5,887,279 shares of the business services provider’s stock worth $259,511,000 after purchasing an additional 3,590,548 shares during the last quarter. Institutional investors and hedge funds own 98.94% of the company’s stock.

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About IHS Markit

IHS Markit Ltd., formerly Markit Ltd., is a provider of critical information and analytics for the major industries, financial markets and governments. The Company operates through four segments: Resources, Transportation, Consolidated Markets & Solutions (CMS) and Financial Services. The Resources segment includes its energy and chemicals product offerings.

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