Zacks: Analysts Expect IHS Markit Ltd. (NYSE:INFO) Will Post Quarterly Sales of $1.14 Billion


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Wall Street analysts expect IHS Markit Ltd. (NYSE:INFO) to report $1.14 billion in sales for the current fiscal quarter, according to Zacks. Six analysts have provided estimates for IHS Markit’s earnings, with the highest sales estimate coming in at $1.15 billion and the lowest estimate coming in at $1.12 billion. IHS Markit reported sales of $1.03 billion in the same quarter last year, which indicates a positive year over year growth rate of 10.7%. The business is scheduled to report its next quarterly earnings results on Tuesday, June 22nd.

On average, analysts expect that IHS Markit will report full-year sales of $4.60 billion for the current fiscal year, with estimates ranging from $4.59 billion to $4.62 billion. For the next fiscal year, analysts forecast that the business will post sales of $4.90 billion, with estimates ranging from $4.87 billion to $4.94 billion. Zacks’ sales averages are a mean average based on a survey of analysts that that provide coverage for IHS Markit.

IHS Markit (NYSE:INFO) last released its quarterly earnings results on Monday, March 22nd. The business services provider reported $0.71 earnings per share for the quarter, beating analysts’ consensus estimates of $0.70 by $0.01. IHS Markit had a net margin of 20.31% and a return on equity of 11.03%. The business had revenue of $1.12 billion for the quarter, compared to the consensus estimate of $1.11 billion. During the same quarter last year, the firm earned $0.66 EPS. IHS Markit’s revenue for the quarter was up 3.6% on a year-over-year basis.

INFO has been the topic of a number of recent analyst reports. Morgan Stanley restated an “overweight” rating and issued a $116.00 price target on shares of IHS Markit in a research report on Wednesday, March 24th. BMO Capital Markets boosted their price target on shares of IHS Markit from $93.00 to $96.00 and gave the company a “market perform” rating in a research report on Thursday, March 25th. Five analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. The stock currently has a consensus rating of “Buy” and a consensus price target of $87.07.

Shares of IHS Markit stock traded up $0.82 during trading on Monday, hitting $100.15. 41,397 shares of the company’s stock traded hands, compared to its average volume of 2,717,526. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.62 and a quick ratio of 0.67. The firm’s fifty day moving average price is $94.49 and its 200 day moving average price is $88.68. IHS Markit has a twelve month low of $62.20 and a twelve month high of $101.45. The company has a market cap of $42.44 billion, a PE ratio of 46.26 and a beta of 1.05.

The firm also recently declared a quarterly dividend, which was paid on Friday, February 12th. Investors of record on Friday, January 29th were paid a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 0.80%. This is an increase from IHS Markit’s previous quarterly dividend of $0.17. The ex-dividend date of this dividend was Thursday, January 28th. IHS Markit’s payout ratio is 34.48%.

In related news, CFO Jonathan Gear sold 61,372 shares of the business’s stock in a transaction that occurred on Tuesday, February 2nd. The shares were sold at an average price of $90.19, for a total transaction of $5,535,140.68. Also, CAO Michael M. Easton sold 11,605 shares of the business’s stock in a transaction that occurred on Tuesday, February 2nd. The stock was sold at an average price of $90.17, for a total transaction of $1,046,422.85. Over the last three months, insiders have sold 143,970 shares of company stock valued at $13,065,364. 0.75% of the stock is currently owned by insiders.

A number of large investors have recently modified their holdings of INFO. Norges Bank bought a new stake in IHS Markit in the fourth quarter valued at approximately $339,370,000. Vontobel Asset Management Inc. increased its stake in IHS Markit by 298.6% in the fourth quarter. Vontobel Asset Management Inc. now owns 2,855,762 shares of the business services provider’s stock valued at $259,610,000 after purchasing an additional 2,139,270 shares in the last quarter. Westchester Capital Management LLC bought a new stake in IHS Markit in the fourth quarter valued at approximately $129,096,000. Junto Capital Management LP bought a new stake in IHS Markit in the fourth quarter valued at approximately $88,529,000. Finally, ARP Americas LP acquired a new position in shares of IHS Markit in the fourth quarter valued at approximately $67,594,000. 93.75% of the stock is owned by hedge funds and other institutional investors.

IHS Markit Company Profile

IHS Markit Ltd. provides critical information, analytics, and solutions for various industries and markets worldwide. The company's information, analytics, and solutions enhance operational efficiency and offer deep insights for customers in business, finance, and government. Its Financial Services segment offers pricing and reference data, indices, valuation and trading services, trade processing, enterprise software, and managed services to traders, portfolio managers, risk managers, research professionals, and other financial market participants, as well as operations, compliance, and enterprise data managers.

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