IHS Markit Ltd (NASDAQ:INFO) Expected to Post Quarterly Sales of $1.14 Billion

Wall Street brokerages expect that IHS Markit Ltd (NASDAQ:INFO) will announce sales of $1.14 billion for the current quarter, according to Zacks Investment Research. Eight analysts have issued estimates for IHS Markit’s earnings, with the highest sales estimate coming in at $1.15 billion and the lowest estimate coming in at $1.13 billion. IHS Markit reported sales of $1.01 billion during the same quarter last year, which would suggest a positive year-over-year growth rate of 12.9%. The business is expected to announce its next quarterly earnings results before the market opens on Wednesday, June 26th.

On average, analysts expect that IHS Markit will report full year sales of $4.45 billion for the current financial year, with estimates ranging from $4.43 billion to $4.47 billion. For the next financial year, analysts expect that the company will post sales of $4.71 billion, with estimates ranging from $4.67 billion to $4.74 billion. Zacks Investment Research’s sales averages are an average based on a survey of research analysts that that provide coverage for IHS Markit.

IHS Markit (NASDAQ:INFO) last announced its quarterly earnings data on Tuesday, March 26th. The business services provider reported $0.60 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $0.45 by $0.15. The firm had revenue of $1.05 billion during the quarter, compared to analyst estimates of $1.06 billion. IHS Markit had a net margin of 9.96% and a return on equity of 9.80%. IHS Markit’s quarterly revenue was up 12.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.53 earnings per share.

Several research analysts have weighed in on the stock. Morgan Stanley increased their target price on shares of IHS Markit from $45.00 to $46.00 and gave the stock an “underweight” rating in a research note on Wednesday, March 27th. BidaskClub raised shares of IHS Markit from a “hold” rating to a “buy” rating in a research note on Friday, April 5th. Zacks Investment Research raised shares of IHS Markit from a “hold” rating to a “buy” rating and set a $62.00 target price for the company in a research note on Wednesday, March 20th. Piper Jaffray Companies increased their target price on shares of IHS Markit from $61.00 to $64.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Finally, UBS Group increased their target price on shares of IHS Markit from $53.00 to $56.00 and gave the stock a “neutral” rating in a research note on Tuesday, March 12th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and ten have given a buy rating to the stock. The company presently has an average rating of “Buy” and an average price target of $58.77.

Shares of INFO stock opened at $59.26 on Wednesday. The company has a current ratio of 0.64, a quick ratio of 0.64 and a debt-to-equity ratio of 0.61. The stock has a market capitalization of $23.94 billion, a price-to-earnings ratio of 29.93, a PEG ratio of 2.64 and a beta of 0.77. The stock’s 50-day moving average is $58.23. IHS Markit has a 1-year low of $44.52 and a 1-year high of $61.05.

In other news, CFO Todd S. Hyatt sold 40,000 shares of the stock in a transaction dated Thursday, May 2nd. The shares were sold at an average price of $56.24, for a total transaction of $2,249,600.00. Following the sale, the chief financial officer now owns 243,083 shares of the company’s stock, valued at $13,670,987.92. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Lance Darrell Gordon Uggla sold 30,000 shares of the stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $54.50, for a total transaction of $1,635,000.00. The disclosure for this sale can be found here. 1.11% of the stock is currently owned by corporate insiders.

Several institutional investors and hedge funds have recently modified their holdings of INFO. Lunia Capital LP lifted its position in shares of IHS Markit by 5,785.0% during the fourth quarter. Lunia Capital LP now owns 12,980,059 shares of the business services provider’s stock worth $12,980,000 after purchasing an additional 12,759,498 shares in the last quarter. Norges Bank acquired a new stake in shares of IHS Markit during the fourth quarter worth about $164,394,000. Bank of America Corp DE lifted its position in shares of IHS Markit by 60.2% during the fourth quarter. Bank of America Corp DE now owns 4,814,676 shares of the business services provider’s stock worth $230,961,000 after purchasing an additional 1,808,786 shares in the last quarter. Clearbridge Investments LLC lifted its position in shares of IHS Markit by 24.0% during the first quarter. Clearbridge Investments LLC now owns 8,222,320 shares of the business services provider’s stock worth $447,130,000 after purchasing an additional 1,591,992 shares in the last quarter. Finally, TimesSquare Capital Management LLC acquired a new stake in shares of IHS Markit during the first quarter worth about $52,411,000. 96.18% of the stock is currently owned by institutional investors and hedge funds.

IHS Markit Company Profile

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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