IHS Holding Limited (NYSE:IHS) Stock Has Average Price Target of $8.80 According to Brokerages

Shares of IHS Holding Limited (NYSE:IHS) have been given an average recommendation of “Hold” by the seven brokerages that are presently covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation and two have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have covered the stock in the last year is $8.80.

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

Institutional Investors Weigh In On IHS

Several large investors have recently made changes to their positions in IHS. Squarepoint Ops LLC lifted its position in shares of IHS by 60.6% during the 2nd quarter. Squarepoint Ops LLC now owns 1,149,563 shares of the business services provider’s stock valued at $9,472,000 after acquiring an additional 433,811 shares during the period. Corient Private Wealth LP grew its holdings in shares of IHS by 9.2% during the 2nd quarter. Corient Private Wealth LP now owns 49,156 shares of the business services provider’s stock worth $405,000 after purchasing an additional 4,156 shares in the last quarter. Groupe la Francaise increased its position in shares of IHS by 48.0% in the second quarter. Groupe la Francaise now owns 917,096 shares of the business services provider’s stock worth $7,557,000 after purchasing an additional 297,298 shares during the period. BTG Pactual Asset Management US LLC increased its position in shares of IHS by 171.2% in the second quarter. BTG Pactual Asset Management US LLC now owns 62,361 shares of the business services provider’s stock worth $514,000 after purchasing an additional 39,363 shares during the period. Finally, Royal Bank of Canada raised its stake in IHS by 6,115.4% in the first quarter. Royal Bank of Canada now owns 108,831 shares of the business services provider’s stock valued at $896,000 after purchasing an additional 107,080 shares in the last quarter. Institutional investors and hedge funds own 17.54% of the company’s stock.

IHS Price Performance

IHS stock opened at $8.44 on Tuesday. The firm has a market capitalization of $2.85 billion, a P/E ratio of 21.09 and a beta of 0.74. The stock has a fifty day moving average price of $8.34 and a two-hundred day moving average price of $8.28. IHS has a 52-week low of $5.71 and a 52-week high of $8.95.

IHS (NYSE:IHS) last posted its quarterly earnings data 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 business had revenue of $428.60 million during the quarter, compared to analyst estimates of $442.72 million.

IHS Company Profile

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.