IHS Markit (NYSE:INFO) Issues FY 2020 Pre-Market Earnings Guidance

IHS Markit (NYSE:INFO) issued an update on its FY 2020
Pre-Market earnings guidance on Tuesday morning. The company provided earnings per share guidance of 2.76-2.78 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $2.76. The company issued revenue guidance of $4.28-4.3 billion, compared to the consensus revenue estimate of $4.3 billion.IHS Markit also updated its FY 2021
Pre-Market guidance to 3.14-3.19 EPS.

INFO opened at $71.74 on Thursday. The company has a quick ratio of 0.70, a current ratio of 0.70 and a debt-to-equity ratio of 0.59. The firm has a 50 day moving average price of $69.39 and a 200-day moving average price of $70.69. IHS Markit has a twelve month low of $44.81 and a twelve month high of $81.65. The stock has a market capitalization of $30.93 billion, a price-to-earnings ratio of 36.23, a PEG ratio of 2.74 and a beta of 0.94.

IHS Markit (NYSE:INFO) last released its quarterly earnings data on Tuesday, June 23rd. The business services provider reported $0.69 earnings per share for the quarter, beating the consensus estimate of $0.67 by $0.02. IHS Markit had a net margin of 18.43% and a return on equity of 10.66%. The firm had revenue of $1.03 billion during the quarter, compared to analysts’ expectations of $1.05 billion. During the same period in the previous year, the company earned $0.71 earnings per share. The firm’s quarterly revenue was down 9.6% on a year-over-year basis. As a group, analysts expect that IHS Markit will post 2.22 earnings per share for the current year.

Several research analysts have recently weighed in on INFO shares. Wells Fargo & Co boosted their price objective on shares of IHS Markit from $70.00 to $90.00 and gave the company an overweight rating in a report on Wednesday. Robert W. Baird boosted their price objective on shares of IHS Markit from $69.00 to $84.00 and gave the company an outperform rating in a report on Wednesday. They noted that the move was a valuation call. UBS Group raised shares of IHS Markit from a neutral rating to a buy rating and boosted their price objective for the company from $63.00 to $85.00 in a report on Wednesday. Deutsche Bank upped their target price on shares of IHS Markit from $71.00 to $84.00 and gave the company a buy rating in a report on Tuesday, June 16th. Finally, BMO Capital Markets upped their target price on shares of IHS Markit from $62.00 to $82.00 and gave the company a market perform rating in a report on Wednesday. Five investment analysts have rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. The stock presently has a consensus rating of Buy and an average target price of $80.17.

In related news, Director William E. Ford bought 2,983 shares of the company’s stock in a transaction that occurred on Wednesday, April 1st. The stock was purchased at an average price of $58.30 per share, for a total transaction of $173,908.90. Following the completion of the transaction, the director now owns 45,166 shares in the company, valued at $2,633,177.80. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Lance Darrell Gordon Uggla sold 496,764 shares of the company’s stock in a transaction on Friday, April 17th. The stock was sold at an average price of $67.03, for a total transaction of $33,298,090.92. Following the transaction, the chief executive officer now owns 1,707,352 shares of the company’s stock, valued at approximately $114,443,804.56. The disclosure for this sale can be found here. Over the last three months, insiders sold 627,147 shares of company stock valued at $42,074,145. Corporate insiders own 0.75% of the company’s stock.

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.

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