IHS (NYSE:IHS) Share Price Crosses Above 200-Day Moving Average - Here's Why

Key Points

• IHS shares rose above their 200-day moving average, reaching $8.42 and last trading at $8.3950, compared with the $8.28 average.
• Analyst sentiment remains neutral: Weiss Ratings upgraded the stock from “sell” to “hold,” while MarketBeat reports a consensus “Hold” rating and an $8.80 price target.
• The company’s latest quarter fell short of expectations, with an adjusted loss of $0.04 per share versus an expected profit of $0.12 and revenue of $428.6 million versus the $442.7 million consensus.

IHS Holding Limited (NYSE:IHS - Get Free Report) passed above its 200-day moving average during trading on Tuesday. The stock has a 200-day moving average of $8.28 and traded as high as $8.42. IHS shares last traded at $8.3950, with a volume of 947,911 shares changing hands.

Analyst Ratings Changes

Separately, Weiss Ratings raised IHS from a "sell (d+)" rating to a "hold (c-)" rating in a research report on Tuesday, September 8th. Two investment analysts have rated the stock with a Buy rating, four have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $8.80.

IHS Price Performance

The firm's 50-day moving average price is $8.36 and its 200 day moving average price is $8.28. The firm has a market cap of $2.84 billion, a P/E ratio of 20.99 and a beta of 0.74.

IHS (NYSE:IHS - Get Free Report) last announced its quarterly earnings data on Monday, August 10th. The business services provider reported ($0.04) earnings per share 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 firm had revenue of $428.60 million during the quarter, compared to the consensus estimate of $442.72 million.

Institutional Trading of IHS

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

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.

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