IHS (NYSE:IHS) Share Price Breaks Above 50-Day Moving Average – Here’s Why

IHS Holding Limited (NYSE:IHS) crossed above its 50-day moving average during trading on Monday. The stock has a 50-day moving average of $8.44 and traded as high as $8.48. IHS shares last traded at $8.4550, with a volume of 430,122 shares trading hands.

Analyst Ratings Changes

A number of research firms have recently commented on IHS. Weiss Ratings upgraded IHS from a “hold (c-)” rating to a “hold (c)” rating in a report on Thursday, October 8th. Wall Street Zen raised IHS to a “hold” rating in a research report on Saturday, October 24th. Two research analysts have rated the stock with a Buy rating, four have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $8.80.

IHS Trading Up 0.4%

The firm has a market capitalization of $2.86 billion, a price-to-earnings ratio of 21.14 and a beta of 0.73. The firm has a 50 day moving average price of $8.44 and a two-hundred day moving average price of $8.27.

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

Institutional Inflows and Outflows

Hedge funds have recently bought and sold shares of the business. Parallel Advisors LLC boosted its holdings in IHS by 1,976.6% in the third quarter. Parallel Advisors LLC now owns 3,904 shares of the business services provider’s stock valued at $33,000 after purchasing an additional 3,716 shares during the last quarter. Corient Private Wealth LP raised its position in shares of IHS by 9.2% in the 2nd quarter. Corient Private Wealth LP now owns 49,156 shares of the business services provider’s stock valued at $405,000 after purchasing an additional 4,156 shares in the last quarter. Sei Investments Co. boosted its stake in shares of IHS by 22.6% during the 1st quarter. Sei Investments Co. now owns 31,668 shares of the business services provider’s stock valued at $261,000 after buying an additional 5,834 shares during the last quarter. CWA Asset Management Group LLC boosted its stake in shares of IHS by 8.3% during the 3rd quarter. CWA Asset Management Group LLC now owns 111,510 shares of the business services provider’s stock valued at $932,000 after buying an additional 8,552 shares during the last quarter. Finally, Cyndeo Wealth Partners LLC purchased a new position in shares of IHS during the 3rd quarter valued at approximately $100,000. Hedge funds and other institutional investors own 17.54% of the company’s stock.

IHS Company Profile

IHS Towers, formally IHS Holding Limited, is an independent owner and operator of shared telecommunications infrastructure. Founded in 2001, the company began in Nigeria and expanded into a multinational provider of infrastructure used by mobile network operators.

Its assets and services include wireless communications towers, fiber-optic networks and other infrastructure that help telecom providers extend coverage and capacity. By sharing sites and related facilities among customers, IHS supports the deployment and operation of mobile networks.

IHS has served markets across Africa, Latin America and the Middle East.