IHS Holding Limited (NYSE:IHS) Stock Has Consensus Price Target of $8.80

IHS Holding Limited (NYSE:IHS) has earned a consensus rating of “Hold” from the seven analysts that are currently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation and two have issued a buy recommendation on the company. The average twelve-month price target among analysts that have updated their coverage on the stock in the last year is $8.80.

Separately, Weiss Ratings upgraded IHS from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Tuesday, September 8th.

Institutional Trading of IHS

A number of large investors have recently made changes to their positions in IHS. PSquared Asset Management AG purchased a new position in shares of IHS in the first quarter valued at $35,749,000. Hsbc Holdings PLC purchased a new position in shares of IHS in the 1st quarter worth $33,532,000. Renaissance Technologies LLC lifted its position in IHS by 61.1% during the first quarter. Renaissance Technologies LLC now owns 2,258,100 shares of the business services provider’s stock valued at $18,584,000 after buying an additional 856,800 shares in the last quarter. Arrowstreet Capital Limited Partnership lifted its stake in shares of IHS by 42.3% during the first quarter. Arrowstreet Capital Limited Partnership now owns 2,586,145 shares of the business services provider’s stock worth $21,284,000 after purchasing an additional 768,286 shares in the last quarter. Finally, Groupe la Francaise purchased a new position in shares of IHS in the first quarter valued at $5,101,000. 17.54% of the stock is currently owned by hedge funds and other institutional investors.

IHS Stock Performance

IHS stock opened at $8.38 on Tuesday. IHS has a one year low of $5.71 and a one year high of $8.95. The stock has a 50-day moving average of $8.35 and a two-hundred day moving average of $8.28. The stock has a market cap of $2.84 billion, a PE ratio of 20.96 and a beta of 0.74.

IHS (NYSE:IHS) last released its earnings results on Monday, August 10th. The business services provider reported ($0.04) EPS for the quarter, missing analysts’ consensus estimates of $0.12 by ($0.16). IHS had a negative return on equity of 832.09% and a net margin of 8.17%.The firm had revenue of $428.60 million for the quarter, compared to analyst estimates of $442.72 million.

About IHS

IHS Holding Limited, operating as IHS Towers (NYSE: IHS), is a multinational telecommunications infrastructure company that owns, develops and manages shared communications infrastructure. Its primary assets are wireless telecommunications towers and related sites, which mobile network operators and other communications providers use to expand and maintain their networks.

The company provides tower leasing, colocation and infrastructure services, allowing multiple wireless operators to share the same sites.