IHS Markit (NYSE:INFO) Updates FY 2021 Pre-Market Earnings Guidance

IHS Markit (NYSE:INFO) issued an update on its FY 2021
Pre-Market earnings guidance on Tuesday morning. The company provided earnings per share guidance of 3.14-3.19 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $3.13. The company issued revenue guidance of $4.575-4.675 billion, compared to the consensus revenue estimate of $4.57 billion.IHS Markit also updated its FY 2020
Pre-Market guidance to 2.76-2.78 EPS.

Shares of IHS Markit stock opened at $71.74 on Thursday. The stock’s fifty day simple moving average is $69.39 and its 200 day simple moving average is $70.69. IHS Markit has a 12 month low of $44.81 and a 12 month high of $81.65. The company has a market capitalization of $30.93 billion, a PE ratio of 36.23, a PEG ratio of 2.74 and a beta of 0.94. The company has a current ratio of 0.70, a quick ratio of 0.70 and a debt-to-equity ratio of 0.59.

IHS Markit (NYSE:INFO) last released its quarterly earnings results on Tuesday, June 23rd. The business services provider reported $0.69 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.67 by $0.02. IHS Markit had a return on equity of 10.66% and a net margin of 18.43%. The firm had revenue of $1.03 billion for the quarter, compared to the consensus estimate of $1.05 billion. During the same quarter last year, the business posted $0.71 EPS. The company’s revenue for the quarter was down 9.6% on a year-over-year basis. Analysts predict that IHS Markit will post 2.22 EPS for the current fiscal year.

INFO has been the topic of a number of recent research reports. UBS Group raised IHS Markit from a neutral rating to a buy rating and lifted their target price for the company from $63.00 to $85.00 in a research report on Wednesday. Cantor Fitzgerald lowered their target price on IHS Markit from $74.00 to $60.00 and set a neutral rating on the stock in a research report on Wednesday, March 25th. Royal Bank of Canada lifted their price target on IHS Markit from $84.00 to $90.00 and gave the stock an outperform rating in a report on Wednesday. Morgan Stanley lifted their price target on IHS Markit from $70.00 to $73.00 and gave the stock an equal weight rating in a report on Wednesday. Finally, Robert W. Baird lifted their price target on IHS Markit from $69.00 to $84.00 and gave the stock an outperform rating in a report on Wednesday. They noted that the move was a valuation call. Five research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. IHS Markit presently has a consensus rating of Buy and an average target price of $80.17.

In other IHS Markit news, CFO Jonathan Gear sold 16,435 shares of the business’s stock in a transaction that occurred on Monday, April 6th. The shares were sold at an average price of $64.47, for a total transaction of $1,059,564.45. Following the completion of the transaction, the chief financial officer now directly owns 169,670 shares in the company, valued at $10,938,624.90. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, EVP Adam Jason Kansler sold 100,000 shares of the business’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $67.75, for a total transaction of $6,775,000.00. Following the transaction, the executive vice president now owns 166,680 shares of the company’s stock, valued at $11,292,570. The disclosure for this sale can be found here. Over the last quarter, insiders sold 627,147 shares of company stock valued at $42,074,145. 0.75% of the stock is currently owned by corporate insiders.

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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