Hot stock to watch: IHS Markit Ltd (NYSE: INFO)

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IHS Markit Ltd (NYSE: INFO) stock rose over 0.3% (as of 10:20 am GMT-4; Source: Google finance) despite the mixed result for the third quarter of FY 19. Meanwhile, the company has signed a deal to sell its aerospace and defense business for approximately $470 million, and plans to initiate a quarterly dividend in the first quarter of 2020. The company has reported the net income for the quarter to Aug. 31 fell of $40.1 million from $104.5 million, in the year-ago period.

INFO in the third quarter of FY 19 has reported the adjusted earnings per share of 67 cents, beating the analysts’ estimates for the adjusted earnings per share of 63 cents, as per the FactSet consensus. The company had reported the adjusted revenue growth of 11 percent to $1.11 billion in the third quarter of FY 19, missing the analysts’ estimates for revenue of $1.13 billion. This is on back of resources revenue topped forecasts by financial services, consolidated markets and solutions and transportation revenue missed. The company has reported the Adjusted EBITDA of $453 million, an increase of 16% with margin of 40.7%

Moreover, during the quarter, Transportation revenue growth was 6%, that includes the organic revenue growth of 7% and negative 1% FX. Resources revenue grew 9% during the quarter, including 6% organic and 3% acquisitive. Product Design, core specs and standards business posted strong performance with recurring organic growth of 4%. Financial services revenue posted the growth of 21% including 6% organic, 16% acquisitive and negative 1% FX.

For FY19, the company expects revenue to be in the range of $4.40 to $4.42, compared with the FactSet consensus of $4.44 billion, and adjusted EPS to be at the high end of the range $2.52 to $2.57, compared with expectations of $2.57.

Meanwhile, the company has today launched the IHS Markit Global Carbon Index, which is the first benchmark for the global price of carbon credits. As per the IHS Markit Global Carbon Index, the global weighted average price of carbon credits is $23.65. Since the beginning of 2018, the total return posted by investors in global carbon is 132 percent, index data show. The design, construction and administration of the IHS Markit Global Carbon Index is due to extensive collaboration among the firm’s Indices, Environmental and Energy businesses, including OPIS, the company’s energy price reporting arm, which provides the data and pricing services to help businesses manage costs and risks associated with national and regional environmental compliance programs.

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