IHS (NYSE:IHS) Shares Cross Above Two Hundred Day Moving Average - What's Next?

Key Points

• IHS shares crossed above their 200-day moving average, reaching $8.45 before closing at $8.435, compared with the $8.29 average.
• Analyst sentiment remains neutral: Weiss Ratings upgraded IHS from “sell” to “hold,” while the broader analyst consensus is also “Hold” with an $8.80 price target.
• IHS reported weaker-than-expected quarterly results, posting a $0.04 per-share loss versus an expected $0.12 profit and revenue of $428.6 million, below estimates of $442.72 million.

IHS Holding Limited (NYSE:IHS - Get Free Report)'s share price crossed above its 200-day moving average during trading on Wednesday. The stock has a 200-day moving average of $8.29 and traded as high as $8.45. IHS shares last traded at $8.4350, with a volume of 598,858 shares.

Analyst Ratings Changes

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

IHS Stock Down 0.1%

The firm has a market cap of $2.85 billion, a P/E ratio of 21.09 and a beta of 0.74. The business's 50 day moving average is $8.37 and its 200-day moving average is $8.29.

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 negative return on equity of 832.09% and a net margin of 8.17%.The company had revenue of $428.60 million for the quarter, compared to analyst estimates of $442.72 million.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the company. Squarepoint Ops LLC grew its position in shares of IHS by 60.6% in the 2nd quarter. Squarepoint Ops LLC now owns 1,149,563 shares of the business services provider's stock worth $9,472,000 after acquiring an additional 433,811 shares in the last quarter. Corient Private Wealth LP lifted its stake 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 worth $405,000 after purchasing an additional 4,156 shares during the last quarter. Groupe la Francaise lifted its stake in IHS by 48.0% during 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 last quarter. BTG Pactual Asset Management US LLC boosted its holdings 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 worth $514,000 after purchasing an additional 39,363 shares during the period. Finally, Royal Bank of Canada increased 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 valued at $896,000 after purchasing an additional 107,080 shares during the last quarter. Institutional investors own 17.54% of the company's stock.

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.

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