BlackRock Investment Management recently announced the acquisition of new stake in IHS Holding Limited (NYSE:IHS). The institutional investor has increased its shareholding in the Communication Services company by 68.18% to 1.29 million shares with purchase of 0.52 million shares. This fresh investment now brings its stake to 0.40% valued currently at $7.95 million. In addition, Pentwater Capital Management LP raised its holdings by 0.31 million to 0.82 million shares. And Avalon Advisors LLC has lifted its position by 122.28% or 0.22 million shares – to 0.4 million shares.
With over 0.39 million IHS Holding Limited (IHS) shares trading Friday and a closing price of $7.62 on the day, the dollar volume was approximately $2.99 million. The shares have shown a negative half year performance of -10.04% and its price on 01/13/23 gained nearly 7.78%. Currently, there are 332.37M common shares owned by the public and among those 220.05M shares have been available to trade.
An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 8 analysts who have offered their price forecasts for IHS have a consensus price objective of $15.50. The analysts have set the share’s price value over the next 12 months at a high of $29.00 and a low of $10.00. The average price target is 51.62% above its recent price level and an upside to the estimated low will see the stock gain 23.8% over that period. But an upside of 73.72% will see the stock hit the forecast high price target while median target price for the stock is $12.50.
The top 3 mutual fund holders in IHS Holding Limited are BlackRock Strategic Fds. – Global, Russell Invt. Co. Plc – Old Mutua, and Allspring Emerging Markets Equity. BlackRock Strategic Fds. – Global owns 0.73 million shares of the company’s stock, all valued at over $4.5 million. The company bought an additional 20315.0 shares recently to bring their total holdings to about 0.22% of the shares outstanding. Allspring Emerging Markets Equity now owns shares totaling to 0.15% of the shares outstanding.
Shares of IHS Holding Limited (NYSE: IHS) opened at $7.17, up $0.1 from a prior closing price of $7.07. However, the script later moved the day high at 7.63, up 7.78%. The company’s stock has a 5-day price change of 17.59% and 41.64% over the past three months. IHS shares are trading 23.90% year to date (YTD), with the 12-month market performance down to -39.09% lower. It has a 12-month low price of $4.91 and touched a high of $13.04 over the same period. IHS has an average intraday trading volume of 245.16K shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by 20.81%, 15.91%, and -8.03% respectively.
Institutional ownership of IHS Holding Limited (NYSE: IHS) shares accounts for 54.80% of the company’s 332.37M shares outstanding. Mutual fund holders own 1.44%, while other institutional holders and individual stakeholders account for 9.42% and — respectively.
It has a market capitalization of $2.32B. The earnings-per-share (ttm) stands at -$0.86. Price movements for the stock have been influenced by the stock’s volatility, which stands at 4.15% over the week and 4.26% over the month.
Analysts forecast that IHS Holding Limited (IHS) will achieve an EPS of $0.05 for the current quarter, $0.03 for the next quarter and $0.39 for 2023. The lowest estimate earnings-per-share for the quarter is -$0.05 while analysts give the company a high EPS estimate of $0.13. Comparatively, EPS for the current quarter was -$0.11 a year ago. Earnings per share for the fiscal year are expected to increase by 91.30%, and 163.20% over the next financial year.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 8 brokerage firm advisors rate IHS Holding Limited (IHS) as a “Strong Buy” at a consensus score of 1.90. Specifically, 7 Wall Street analysts polled rate the stock as a buy, while 0 of the 8 advise that investors “hold,” and 0 rated it as a “Sell.”
Looking at the support for the IHS, a number of firms have released research notes about the stock. Wells Fargo stated their Overweight rating for the stock in a research note on November 09, 2022, with the firm’s price target at $12. Tigress Financial coverage for the IHS Holding Limited (IHS) stock in a research note released on June 10, 2022 offered a Buy rating with a price target of $22.