IHS Markit’s (INFO) Buy Rating Reiterated at Royal Bank of Canada

Royal Bank of Canada reissued their buy rating on shares of IHS Markit (NASDAQ:INFO) in a report published on Wednesday. The brokerage currently has a $52.00 price objective on the business services provider’s stock.

A number of other research analysts have also weighed in on INFO. Zacks Investment Research upgraded IHS Markit from a sell rating to a hold rating in a research report on Tuesday, August 29th. Cantor Fitzgerald restated a hold rating and set a $45.00 price objective on shares of IHS Markit in a research report on Tuesday, September 26th. Morgan Stanley cut their price objective on IHS Markit from $41.00 to $40.00 and set an underweight rating for the company in a research report on Wednesday, September 27th. BMO Capital Markets restated an outperform rating and set a $50.00 price objective (down previously from $52.00) on shares of IHS Markit in a research report on Wednesday, September 27th. Finally, 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. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $47.86.

Shares of IHS Markit (INFO) traded up $0.01 during trading hours on Wednesday, hitting $45.05. The stock had a trading volume of 1,754,196 shares, compared to its average volume of 1,652,747. The company has a market cap of $17,966.15, a price-to-earnings ratio of 46.93, a P/E/G ratio of 2.15 and a beta of 0.83. The company has a debt-to-equity ratio of 0.44, a current ratio of 0.53 and a quick ratio of 0.53. IHS Markit has a 12-month low of $34.95 and a 12-month high of $48.53.

IHS Markit (NASDAQ:INFO) last issued its quarterly earnings data on Tuesday, September 26th. The business services provider reported $0.57 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.53 by $0.04. The firm had revenue of $904.70 million during the quarter, compared to analyst estimates of $890.99 million. IHS Markit had a return on equity of 8.79% and a net margin of 11.35%. The business’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same quarter last year, the business posted $0.45 earnings per share. analysts forecast that IHS Markit will post 1.57 earnings per share for the current fiscal year.

In related news, CFO Todd S. Hyatt sold 20,000 shares of IHS Markit stock in a transaction dated Monday, October 2nd. The stock was sold at an average price of $44.20, for a total value of $884,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in INFO. Dupont Capital Management Corp purchased a new position in shares of IHS Markit during the second quarter valued at approximately $120,000. Zions Bancorporation purchased a new position in shares of IHS Markit during the third quarter valued at approximately $126,000. ETF Managers Group LLC purchased a new position in shares of IHS Markit during the second quarter valued at approximately $135,000. Huntington National Bank purchased a new position in shares of IHS Markit during the third quarter valued at approximately $173,000. Finally, Flinton Capital Management LLC purchased a new position in shares of IHS Markit during the second quarter valued at approximately $180,000. Institutional investors 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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