IHS Markit To Gain From Partnership With Windward: Here's Why
Zacks Investment Research | Nov 11, 2018 09:37PM ET
So far this year, shares of IHS Markit Ltd. (NASDAQ:INFO) have gained 17.2%, outperforming the 11.5% rise of the industry it belongs to and 3.9% rise of the Zacks S&P 500 Composite Index.
The company recently entered into a strategic agreement with Windward aimed at offering latest data on vessel features, casualties and ports state control.
Based in Tel Aviv and London, Windward is a maritime risk analytics startup that helps marine insurers with risk selection and pricing. It also helps governments and organizations like the United Nations Security Council locate threat-posing vessels.
Guy Sear, executive director of Maritime & Trade at IHS Markit, stated that the partnership will help targeted customers receive high quality data to assist them in decision making.
A Win-Win Situation
IHS Markit has one of the biggest shipping databases in the world. The partnership is likely to drive the company’s Transportation segment, which includes Automotive, Maritime & Trade (“M&T”) and Aerospace, Defense & Security (“AD&S”) offerings.
Performance of the segment was strong in the last reported quarter with revenues improving 16% year over year on a reported basis and 9% organically. The segment contributed around 30% to IHS Markit’s total revenues in third-quarter fiscal 2018.
As far as Windward is concerned, the collaboration should boost its risk modelling capabilities and enhance accuracy of maritime data and analytics tools.
Zacks Rank & Stocks to Consider
Currently, IHS Markit is a Zacks Rank #3 (Hold) stock. You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here .
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