IHS Holding Limited (NYSE:IHS) Stock Now Rated “Hold” by Wall Street Brokerages

IHS Holding Limited (NYSE:IHS) has earned a consensus rating of “Hold” from the seven brokerages that are covering the stock, Marketbeat.com reports. One investment analyst has rated the stock with a sell rating, four have given a hold rating and two have issued a buy rating on the company. The average 1 year price objective among brokerages that have covered the stock in the last year is $8.80.

Separately, Weiss Ratings raised IHS from a “hold (c-)” rating to a “hold (c)” rating in a research report on Thursday, October 8th.

IHS Stock Down 0.1%

Shares of NYSE:IHS traded down $0.01 during trading on Friday, reaching $8.44. 303,256 shares of the company traded hands, compared to its average volume of 776,342. The firm has a fifty day simple moving average of $8.40 and a 200 day simple moving average of $8.30. The firm has a market cap of $2.85 billion, a P/E ratio of 21.09 and a beta of 0.74. IHS has a 1-year low of $5.71 and a 1-year high of $8.95.

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

Institutional Investors Weigh In On IHS

A number of hedge funds and other institutional investors have recently made changes to their positions in IHS. Cyndeo Wealth Partners LLC bought a new stake in shares of IHS in the 3rd quarter valued at approximately $100,000. Squarepoint Ops LLC raised its position in IHS by 60.6% during the second 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 in the last quarter. Corient Private Wealth LP raised its position in IHS by 9.2% during the second quarter. Corient Private Wealth LP now owns 49,156 shares of the business services provider’s stock valued at $405,000 after acquiring an additional 4,156 shares in the last quarter. Groupe la Francaise raised its position in IHS by 48.0% during the second quarter. Groupe la Francaise now owns 917,096 shares of the business services provider’s stock valued at $7,557,000 after acquiring an additional 297,298 shares in the last quarter. Finally, BTG Pactual Asset Management US LLC lifted its stake in 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 valued at $514,000 after acquiring an additional 39,363 shares during the last quarter. 17.54% of the stock is owned by hedge funds and other institutional investors.

IHS Company Profile

IHS Holding Limited is a telecommunications infrastructure company that develops, owns, and operates shared communications infrastructure. Its core business is providing wireless telecommunications towers and related infrastructure that mobile network operators use to expand network coverage and capacity.

The company’s services include tower leasing, site management, power management, and infrastructure support. By allowing multiple telecommunications providers to share tower sites and related facilities, IHS helps operators deploy and maintain wireless networks while improving the efficiency of their infrastructure investments.

IHS has historically focused on emerging markets across Africa, Latin America, and the Middle East, serving mobile network operators and other communications customers in those regions.