Raymond James downgraded Information Services (TSE:ISV) to Market Perform.
According to a Friday report by BayStreet.CA, Raymond James has lowered its rating for information services (TSE: ISV) from “outperforming” to “market performance” in its assessment of the company. The price target they currently have in mind for the company is C$26.00, which is lower than the price target of C$28.00 they originally set for it. Compared to the previous estimate of the company’s value, Raymond James’ price target, which was recently determined, could see an increase of 16.07%.
The ISV was recently discussed by some of the other equity research analysts, which brought up some interesting points:
CIBC revealed in a research note released Friday, August 5 that its price target for information services stocks has risen from C$25.00 to C$26.00. The previous price target was $25.00.
Cormark raised its price target on information services shares from C$31.00 to C$33.00 in a research report made publicly available on Friday, August 5.
Information Services has been upgraded by Royal Bank of Canada from a “sector outperform” rating to a “buy” rating.
Their target price on the stock rose from CA$25.00 to CA$26.00 in a research report released on Friday, August 5.
ISV saw a $0.13 drop in the stock price on Friday, bringing the current price to C$22.40. Trading volume was lower than normal, with only 7,720 shares traded instead of the usual 8,842 shares. The market value of the company’s shares is currently C$394.46 million, and it trades at 10.16 times its price per share. A debt ratio stands at 60.84, a quick ratio which stands at 1.57, a current ratio which stands at 1.73 and a quick ratio which stands at 1.57. The stock’s simple moving average over the past 50 days is $22.59 and its simple moving average over the past 200 days is $21.69. The cost of information services has fluctuated over the past year, reaching a low of $19.12 and a high of $28.66.
On August 3, Information Services (TSE: ISV) released the findings of its latest quarterly financial report. This event took place on Wednesday. Company earnings of $0.65 were distributed to each shareholder for the period. Additionally, the company’s sales were C$50.87 million for the quarter, which is a significant increase from the average sales forecast of C$43.40 million for the quarter. As a result, information services should generate a profit of 1.82 cents per share for the current fiscal year, according to the consensus of financial experts.
The Information Services Society of Canada provides its clients with registry and information management services to facilitate the organization and maintenance of public records and data. This business is divided into registry operations, technology solutions and services. In addition, the organization offers three distinct types of land titles services:
A Land Titles Registry, which issues land titles and records transactions that affect titles.
Land surveyors register survey plans and develop a cadastral parcel mapping system representing parcels of land in Saskatchewan.
Geomatics, which manages geographic data on the cadastral parcel mapping system.
All these services are provided by the organization.