IHS Holding (NYSE:IHS) Stock

IHS Holding

IHS Holding Ltd is an independent owner, operator, and developer of shared telecommunications infrastructure. The company provides telecommunications infrastructure to its customers, most of who are MNOs, who in turn provide wireless voice and data services to their end-users. Its geographical segments are Nigeria, Sub-Saharan Africa, Middle East and North Africa (MENA), and Latin America (Latam). The majority of its revenue is derived from Nigeria.

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IHS Holding (NYSE: IHS) came out with quarterly earnings of $0.04 per share, missing the Zacks Consensus Estimate of $0.13 per share. This compares to loss of $0.27 per share a year ago. These figures are adjusted for non-recurring items.

IHS Holding Q2 Earnings Lag Estimates

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Why Alibaba Shares Are Trading Lower By Around 7%? Here Are Other Stocks Moving In Tuesday&#39;s Mid-Day Session

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The Zacks Communication - Infrastructure industry appears mired in escalating capital expenditures for infrastructure upgrades, unpredictable raw material prices owing to Middle East geopolitical tensions, supply-chain disruptions amid the prolonged Russia-Ukraine war and high customer inventory levels.

2 Communication Stocks Likely to Stand Firm Amid Industry Gloom

IHS Holding Ltd

INTL HOUSEWARES RET ORD by INTERNATIONAL HOUSEWARES RETAIL CO LTD

International Housewares Retail Co Ltd

IHS Holding Limited, (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHS#NYSE">IHS</a>) ("IHS Towers"), one of the largest independent owners, operators and developers of shared communications infrastructure in the world by tower count, has signed a definitive agreement to sell IHS Towers' 70% interest in IHS Kuwait Limited ("IHS Kuwait") including its approximate 1,675 sites and an additional approximately 700 sites managed in Kuwait to Zain Group. The transaction is subject to customary closing conditions, including government and regulatory approvals, and is expected to close in the first half of 2025.
The terms of the transaction reflect an enterprise value of $230 million for the IHS Kuwait portfolio, implying a transaction multiple of 14.2x based on an estimated IHS Kuwait Adjusted EBITDA after leases. This represents a significant premium compared to the current valuation multiple of the IHS Towers group.
Entering into this agreement is part of IHS Towers' ongoing strategic review targeted at shareholder value-creation options. As previously indicated, the proceeds will primarily be utilized to reduce company debt.

Asset Sales

IHS Towers to Exit Kuwait Market, Sells Stake for $230M To Zain Group

TD Cowen analyst Colby Synesael maintains IHS Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHS#NYSE">IHS</a>) with a Buy and raises the price target from $14 to $15.

Price Target

TD Cowen Maintains Buy on IHS Holding, Raises Price Target to $15

IHS Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHS#NYSE">IHS</a>) affirms FY2024 sales outlook from $1.67 billion-1.70 billion to $1.67 billion-1.70 billion.

Guidance

IHS Holding Affirms FY2024 Sales Guidance from $1.67B-1.70B to $1.67B-1.70B  VS Est. $1.69B

IHS Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHS#NYSE">IHS</a>) reported quarterly losses of $(0.61) per share which missed the analyst consensus estimate of $0.09 by 777.78 percent. The company reported quarterly sales of $420.282 million which beat the analyst consensus estimate of $410.029 million by 2.50 percent. This is a 10.01 percent decrease over sales of $467.023 million the same period last year.

Earnings Beats

IHS Holding Q3 2024 GAAP EPS $(0.61) Misses $0.09 Estimate, Sales $420.282M Beat $410.029M Estimate

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Earnings Scheduled For November 12, 2024

TD Cowen analyst Colby Synesael maintains IHS Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHS#NYSE">IHS</a>) with a Buy and raises the price target from $13 to $14.

TD Cowen Maintains Buy on IHS Holding, Raises Price Target to $14

Citigroup analyst Michael Rollins reinstates IHS Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHS#NYSE">IHS</a>) with a Buy and announces $5 price target.

Initiation

Citigroup Reinstates Buy on IHS Holding, Announces $5 Price Target

RBC Capital analyst Jonathan Atkin maintains IHS Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHS#NYSE">IHS</a>) with a Outperform and lowers the price target from $11 to $7.

RBC Capital Maintains Outperform on IHS Holding, Lowers Price Target to $7

IHS Holding (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ihs#NYSE">IHS</a>) came out with quarterly earnings of $0.04 per share, missing the Zacks Consensus Estimate of $0.13 per share. This compares to loss of $0.27 per share a year ago. These figures are adjusted for non-recurring items.
This quarterly report represents an earnings surprise of -69.23%. A quarter ago, it was expected that this telecommunications infrastructure company would post earnings of $0.04 per share when it actually produced a loss of $0.07, delivering a surprise of -275%.
Over the last four quarters, the company has surpassed consensus EPS estimates just once.
IHS Holding, which belongs to the Zacks Communication - Infrastructure industry, posted revenues of $435.38 million for the quarter ended June 2024, surpassing the Zacks Consensus Estimate by 5.81%. This compares to year-ago revenues of $546.2 million. The company has topped consensus revenue estimates three times over the last four quarters.
The sustainability of the stock&#39;s immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management&#39;s commentary on the earnings call.
IHS Holding shares have lost about 39.1% since the beginning of the year versus the S&amp;P 500&#39;s gain of 12.1%.
<h2>What&#39;s Next for IHS Holding?</h2>
While IHS Holding has underperformed the market so far this year, the question that comes to investors&#39; minds is: what&#39;s next for the stock?
There are no easy answers to this key question, but one reliable measure that can help investors address this is the company&#39;s earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately.
Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions.
Ahead of this earnings release, the estimate revisions trend for IHS Holding: mixed. While the magnitude and direction of estimate revisions could change following the company&#39;s just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future.
It will be interesting to see how estimates for the coming quarters and current fiscal year change in the days ahead. The current consensus EPS estimate is $0.15 on $430.18 million in revenues for the coming quarter and -$4.23 on $1.72 billion in revenues for the current fiscal year.
Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Communication - Infrastructure is currently in the top 19% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1.
Another stock from the broader Zacks Computer and Technology sector, HP (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/hpq#NYSE">HPQ</a>), has yet to report results for the quarter ended July 2024. The results are expected to be released on August 28.
This personal computer and printer maker is expected to post quarterly earnings of $0.86 per share in its upcoming report, which represents no change from the year-ago quarter. The consensus EPS estimate for the quarter has remained unchanged over the last 30 days.
HP&#39;s revenues are expected to be $13.31 billion, up 0.9% from the year-ago quarter.
<a href="https://www.zacks.com/stock/news/2321154/ihs-holding-ihs-q2-earnings-lag-estimates?cid=CS-BENZ-FT-tale_of_the_tape|yseop_template_4-2321154">To read this article on Zacks.com click here.</a>

WIIM

IHS Holding shares are trading higher after the company reported better-than-expected Q2 revenue results.

IHS Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHS#NYSE">IHS</a>) reported quarterly losses of $(0.36) per share which missed the analyst consensus estimate of $0.15 by 340 percent. This is a 90.5 percent increase over losses of $(3.79) per share from the same period last year. The company reported quarterly sales of $435.377 million which beat the analyst consensus estimate of $428.302 million by 1.65 percent. This is a 20.29 percent decrease over sales of $546.204 million the same period last year.

IHS Holding Q2 2024 GAAP EPS $(0.36) Misses $0.15 Estimate, Sales $435.377M Beat $428.302M Estimate

Following the announcement last week that IHS Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHS#NYSE">IHS</a>) ("IHS Towers" or the "Company") and MTN Group (JSE: MTN) had renewed and extended communications infrastructure deals in Nigeria, as well as completing the renewal of all contracts across IHS Towers-MTN markets recently, the companies said on Tuesday that with the commercial relationship now firmly established for the next decade, they will now work constructively to find a mutually agreeable resolution to governance issues previously raised.
On 7 August 2024, the companies announced the agreement to renew and extend all Nigerian tower Master Lease Agreements until December 2032. The contracts include new financial terms that provide what the parties believe to be a more sustainable split between local and foreign currency. With this, IHS Towers and MTN Group have now completed the renewal of approximately 26,000 MTN tenancies on IHS Towers infrastructure across six African markets – Nigeria, Rwanda, Côte d'Ivoire, Cameroon, Zambia and South Africa.
MTN Group owns approximately 26% in IHS Towers, a stake which pre-dates the tower company's listing on the New York Stock Exchange in 2021.

IHS Towers and MTN Group Extend Nigerian Infrastructure Deals Through 2032, Address Governance Issues

Analysts' ratings for IHS Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHS#NYSE">IHS</a>) over the last quarter vary from bullish to bearish, as provided by 4 analysts.
The following table encapsulates their recent ratings, offering a glimpse into the evolving sentiments over the past 30 days and comparing them to the preceding months.
<table>
<thead>
<tr>
<th></th>
<th style="text-align: right;">Bullish</th>
<th style="text-align: right;">Somewhat Bullish</th>
<th style="text-align: right;">Indifferent</th>
<th style="text-align: right;">Somewhat Bearish</th>
<th style="text-align: right;">Bearish</th>
</tr>
</thead>
<tbody>
<tr>
<td>Total Ratings</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">3</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>Last 30D</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>1M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>2M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">1</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
<tr>
<td>3M Ago</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">2</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
<td style="text-align: right;">0</td>
</tr>
</tbody>
</table>
Analysts provide deeper insights through their assessments of 12-month price targets, revealing an average target of $10.62, a high estimate of $15.00, and a low estimate of $6.00. A 21.33% drop is evident in the current average compared to the previous average price target of $13.50. 
<img src="https://www.benzinga.com/files/images/story/2024/1715799781_0.png" alt="price target chart" />
<h2>Analyzing Analyst Ratings: A Detailed Breakdown</h2>
In examining recent analyst actions, we gain insights into how financial experts perceive IHS Holding. The following summary outlines key analysts, their recent evaluations, and adjustments to ratings and price targets.
<table>
<thead>
<tr>
<th>Analyst</th>
<th>Analyst Firm</th>
<th>Action Taken</th>
<th>Rating</th>
<th>Current Price Target</th>
<th>Prior Price Target</th>
</tr>
</thead>
<tbody>
<tr>
<td>Colby Synesael</td>
<td>TD Cowen</td>
<td>Lowers</td>
<td>Buy</td>
<td>$13.00</td>
<td>$15.00</td>
</tr>
<tr>
<td>Maurice Patrick</td>
<td>Barclays</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$6.00</td>
<td>$8.00</td>
</tr>
<tr>
<td>Gregory Williams</td>
<td>TD Cowen</td>
<td>Lowers</td>
<td>Outperform</td>
<td>$15.00</td>
<td>$19.00</td>
</tr>
<tr>
<td>Eric Luebchow</td>
<td>Wells Fargo</td>
<td>Lowers</td>
<td>Overweight</td>
<td>$8.50</td>
<td>$12.00</td>
</tr>
</tbody>
</table>
<h3>Key Insights:</h3>
<ul>
<li>Action Taken: Responding to changing market dynamics and company performance, analysts update their recommendations. Whether they 'Maintain', 'Raise', or 'Lower' their stance, it signifies their response to recent developments related to IHS Holding. This offers insight into analysts' perspectives on the current state of the company.</li>
<li>Rating: Analysts assign qualitative assessments to stocks, ranging from 'Outperform' to 'Underperform'. These ratings convey the analysts' expectations for the relative performance of IHS Holding compared to the broader market.</li>
<li>Price Targets: Analysts gauge the dynamics of price targets, providing estimates for the future value of IHS Holding's stock. This comparison reveals trends in analysts' expectations over time.</li>
</ul>
Considering these analyst evaluations in conjunction with other financial indicators can offer a comprehensive understanding of IHS Holding's market position. Stay informed and make well-informed decisions with our Ratings Table.
<a href="https://www.benzinga.com/quote/IHS/analyst-ratings?utm_source=Benzinga Insights">Stay up to date on IHS Holding analyst ratings.</a>
If you are interested in following small-cap stock news and performance <a href="https://www.benzinga.com/news/small-cap">you can start by tracking it here</a>.
<h2>Delving into IHS Holding's Background</h2>
IHS Holding Ltd is an independent owner, operator, and developer of shared telecommunications infrastructure. The company provides telecommunications infrastructure to its customers, most of who are MNOs, who in turn provide wireless voice and data services to their end-users. Its geographical segments are Nigeria, Sub-Saharan Africa, Middle East and North Africa (MENA), and Latin America (Latam). The majority of its revenue is derived from Nigeria.
<h3>Financial Milestones: IHS Holding's Journey</h3>
Market Capitalization: With restricted market capitalization, the company is positioned below industry averages. This reflects a smaller scale relative to peers.
Revenue Growth: IHS Holding's revenue growth over a period of 3 months has faced challenges. As of 31 December, 2023, the company experienced a revenue decline of approximately -3.11%. This indicates a decrease in the company's top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Communication Services sector.
Net Margin: IHS Holding's net margin is below industry standards, pointing towards difficulties in achieving strong profitability. With a net margin of -93.98%, the company may encounter challenges in effective cost control.
Return on Equity (ROE): IHS Holding's ROE is below industry averages, indicating potential challenges in efficiently utilizing equity capital. With an ROE of -262.18%, the company may face hurdles in achieving optimal financial returns.
Return on Assets (ROA): The company's ROA is below industry benchmarks, signaling potential difficulties in efficiently utilizing assets. With an ROA of -8.79%, the company may need to address challenges in generating satisfactory returns from its assets.
Debt Management: IHS Holding's debt-to-equity ratio surpasses industry norms, standing at 37.44. This suggests the company carries a substantial amount of debt, posing potential financial challenges.
<h2>Understanding the Relevance of Analyst Ratings</h2>
Ratings come from analysts, or specialists within banking and financial systems that report for specific stocks or defined sectors (typically once per quarter for each stock). Analysts usually derive their information from company conference calls and meetings, financial statements, and conversations with important insiders to reach their decisions.
Some analysts publish their predictions for metrics such as growth estimates, earnings, and revenue to provide additional guidance with their ratings. When using analyst ratings, it is important to keep in mind that stock and sector analysts are also human and are only offering their opinions to investors.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

The Latest Analyst Ratings For IHS Holding

TD Cowen analyst Colby Synesael maintains IHS Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHS#NYSE">IHS</a>) with a Buy and lowers the price target from $15 to $13.

TD Cowen Maintains Buy on IHS Holding, Lowers Price Target to $13

Shares of Alibaba Group Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BABA#NYSE">BABA</a>) fell sharply during Tuesday's session following mix<a href="https://www.benzinga.com/news/earnings/24/05/38814985/alibaba-stock-dips-as-huge-investment-losses-in-q4-overshadow-revenue-growth-and-dividend">ed first-quarter financial results.</a>
The e-commerce giant reported fiscal fourth-quarter 2023 revenue growth of 7% year-on-year to $30.73 billion, beating the analyst consensus estimate of $30.40 billion. Adjusted earnings per ADS of $1.40 missed the analyst consensus estimate of $1.41, according to data from <a href="https://pro.benzinga.com/dashboard">Benzinga Pro</a>.
Alibaba Group shares tumbled 6.8% to $78.86 on Tuesday.
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<li>On Holding AG (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ONON#NYSE">ONON</a>) gained 14.7% to $35.21 after the company reported better-than-expected first-quarter financial results.</li>
<li>Agilysys, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AGYS#NASDAQ">AGYS</a>) gained 14.5% to $91.89 after the company reported better-than-expected quarterly financial results.</li>
<li>Petco Health and Wellness Company, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WOOF#NASDAQ">WOOF</a>) gained 11.6% to $1.9983.</li>
<li>Alcon Inc. (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/ALC#NYSE">ALC</a>) gained 9.6% to $88.47 following better-than-expected first-quarter earnings.</li>
<li>Tilray Brands, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/TLRY#NASDAQ">TLRY</a>) shares rose 9.6% to $2.18.</li>
<li>Bloom Energy Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BE#NYSE">BE</a>) gained 9.5% to $12.65.</li>
<li>Rent the Runway, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/RENT#NASDAQ">RENT</a>) shares rose 7.4% to $21.45 after gaining over 12% on Monday.</li>
<li>Sony Group Corporation (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SONY#NYSE">SONY</a>) gained 6.3% to $80.95 after the company reported better-than-expected quarterly financial results</li>
</ul>
<h3 class="wp-block-heading">Losers</h3>
<ul>
<li>Scorpius Holdings, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCPX#NASDAQ">SCPX</a>) fell 54.8% to $0.0820 after the company reported pricing of public offering.</li>
<li>Augmedix, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AUGX#NASDAQ">AUGX</a>) shares fell 50.7% to $1.1596 after the company reported first-quarter financial results.</li>
<li>Inotiv, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NOTV#NASDAQ">NOTV</a>) fell 46.8% to $2.22 after Jefferies downgraded the stock from Buy to Hold and lowered its price target from $11.5 to $3.75.</li>
<li>Akoya Biosciences, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AKYA#NASDAQ">AKYA</a>) fell 28.3% to $2.9550 after the company reported worse-than-expected first-quarter financial results and lowered its FY24 revenue forecast.</li>
<li>Eastside Distilling, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/EAST#NASDAQ">EAST</a>) dipped 26% to $1.0950 following first-quarter earnings.</li>
<li>JanOne Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JAN#NASDAQ">JAN</a>) fell 23.8% to $2.9443.</li>
<li>Shimmick Corporation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SHIM#NASDAQ">SHIM</a>) declined 23.6% to $2.78 following weak quarterly earnings.</li>
<li>Fennec Pharmaceuticals Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FENC#NASDAQ">FENC</a>) fell 23.2% to $7.70 following quarterly results.</li>
<li>BIOLASE, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BIOL#NASDAQ">BIOL</a>) shares fell 15.3% to $0.1532 after the company reported mixed first-quarter financial results.</li>
<li>IHS Holding Limited (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHS#NYSE">IHS</a>) declined 15.2% to $3.2650 following first-quarter results.</li>
<li>Jamf Holding Corp. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/JAMF#NASDAQ">JAMF</a>) fell 12.1% to $17.95 after the company announced the pricing of a secondary offering by selling stockholders.</li>
<li>Merchants Bancorp (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/MBIN#NASDAQ">MBIN</a>) declined 10.7% to $42.51 after the company priced a 2.4 million share offering at $43 per share.</li>
<li>INVO Bioscience, Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/INVO#NASDAQ">INVO</a>) shares fell 9.8% to $1.10 after jumping over 20% on Monday.</li>
<li>StoneCo Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/STNE#NASDAQ">STNE</a>) shares declined 9.6% to $15.04 after the company reported first-quarter financial results.</li>
<li>TeraWulf Inc. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/WULF#NASDAQ">WULF</a>) shares fell 9.4% to $2.03 after the company reported downbeat results for its first quarter on Monday.</li>
<li>Better Home &amp; Finance Holding Company (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BETR#NASDAQ">BETR</a>) declined 7.1% to $0.4135 following first-quarter results.</li>
<li>VinFast Auto Ltd. (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VFS#NASDAQ">VFS</a>) fell 6% to $4.29.</li>
</ul>
Now Read This: <a href="https://www.benzinga.com/news/24/05/38815957/planet-fitness-to-rally-around-19-here-are-10-top-analyst-forecasts-for-tuesday">Planet Fitness To Rally Around 19%? Here Are 10 Top Analyst Forecasts For Tuesday</a>

Why Alibaba Shares Are Trading Lower By Around 7%? Here Are Other Stocks Moving In Tuesday's Mid-Day Session

IHS Holding (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IHS#NYSE">IHS</a>) reported quarterly losses of $(0.47) per share which missed the analyst consensus estimate of $(0.01) by 4600 percent. The company reported quarterly sales of $417.744 million which beat the analyst consensus estimate of $394.581 million by 5.87 percent. This is a 30.67 percent decrease over sales of $602.528 million the same period last year.

IHS Holding Q1 2024 Adj EPS $(0.47) Misses $(0.01) Estimate, Sales $417.744M Beat $394.581M Estimate

The Zacks Communication - Infrastructure industry appears mired in escalating capital expenditures for infrastructure upgrades, unpredictable raw material prices owing to Middle East geopolitical tensions, supply-chain disruptions amid the prolonged Russia-Ukraine war and high customer inventory levels. However, the industry is expected to benefit in the long run from an increasing user propensity to stay abreast of the latest digital innovations. 
In this backdrop, IHS Holding Limited (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ihs#NYSE">IHS</a>) and DZS Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dzsi#NASDAQ">DZSI</a>) are likely to gain from rising demand for scalable infrastructure for seamless connectivity with the wide proliferation of IoT, transition to cloud and next-gen technologies, and 5G rollout.
Industry Description
The Zacks Communication - Infrastructure industry players provide various infrastructure solutions for the core, access and edge layers of communication networks. Leveraging proprietary modeling and simulation techniques to optimize networks, the firms offer high-speed network access solutions across Internet protocol, asynchronous transfer mode and time division multiplexed architecture in both wireline and wireless network applications. Their product portfolio encompasses optical fiber and twisted-pair structured cable solutions, infrastructure management hardware and software, network racks and cabinets, fiber-to-home equipment like hardened connector systems, wireless network backhaul planning and optimization products, couplers and splitters, indoor, small cell and distributed wireless antenna systems and hardened optical terminating enclosures.
What&#39;s Shaping the Future of the Communication - Infrastructure Industry?
Surging Raw Material Prices: High raw material prices due to inflation, economic sanctions against the Putin regime and intensifying war-mongering conditions in the Middle East have affected the operation schedules of various firms. Extended lead times for basic components are also likely to hurt the delivery schedule and escalate production costs. The demand-supply imbalance has crippled operations and largely affected profitability due to inflated equipment prices. 
Waning Demand: Efforts to offset substantial capital expenditure for upgrading network infrastructure by raising fees have reduced demand, as customers tend to switch to lower-priced alternatives. In addition, latent Sino-U.S. tensions relating to trade restrictions imposed on the sale of communication equipment to firms based in the communist country have dented the industry&#39;s credibility, leading to a loss of business. The industry is battling hard-to-mitigate operating risks stemming from volatility in demand, an unpredictable business environment and challenging geopolitical scenarios. 
Diminishing ROI: Video and other bandwidth-intensive applications have witnessed exponential growth owing to the wide proliferation of smartphones and increased deployment of the superfast 5G technology. This has forced the industry participants to invest considerably in LTE, broadband and fiber to provide additional capacity and ramp up the Internet and wireless networks. These companies are rapidly transforming themselves from legacy copper-based telecommunications firms to technology powerhouses with capabilities to meet the growing demand for flexible data, video, voice and IP solutions. Although these infrastructure investments are likely to be beneficial in the long run, short-term profitability has largely been compromised. 
Network Convergence: With operators moving toward converged or multi-use network structures, combining voice, video and data communications into a single network, the industry is increasingly developing solutions to support wireline and wireless network convergence. These investments are likely to help minimize service delivery costs to adequately support broadband competition and expand rural coverage and wireless densification in the long run. The industry players have enabled enterprises to rapidly scale communications functionalities to a vast range of applications and devices with easy-to-use software application programming interfaces. The firms support high user volumes without affecting deliverability and cost-effectively eliminate performance degradation.
Zacks Industry Rank Indicates Bearish Trends
The Zacks Communication - Infrastructure industry is housed within the broader Zacks Computer and Technology sector. It carries a Zacks Industry Rank #242, which places it in the bottom 4% of more than 250 Zacks industries. 
The group&#39;s Zacks Industry Rank, which is basically the average of the Zacks Rank of all the member stocks, indicates bleak prospects. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. 
Before we present a couple of communication infrastructure stocks that are well-positioned to outperform the market based on a strong earnings outlook, let&#39;s take a look at the industry&#39;s recent stock market performance and valuation picture.
Industry Lags S&amp;P 500 &amp; Sector
The Zacks Communication - Infrastructure industry has lagged the broader Zacks Computer and Technology sector and the S&amp;P 500 composite over the past year. 
The industry has declined 54% over this period against the S&amp;P 500 and the sector&#39;s growth of 23.5% and 40.3%, respectively. 
One Year Price Performance
<img alt="" src="https://staticx-tuner.zacks.com/images/zadmin_tuner_image/chart 1_2024_04_29.jpg" style="height:432px; width:620px" />
Industry&#39;s Current Valuation
On the basis of the trailing 12-month enterprise value-to-EBITDA (EV/EBITDA), which is the most appropriate multiple for valuing telecom stocks, the industry is currently trading at 2.76X compared with the S&amp;P 500&#39;s tally of 14.80X. It is also trading below the sector&#39;s trailing 12-month EV/EBITDA of 14.25X. 
Over the past five years, the industry has traded as high as 11.99X, as low as 2.72X and at the median of 7.88X, as the chart below shows. 
Trailing 12-Month enterprise value-to-EBITDA (EV/EBITDA) Ratio
<img alt="" src="https://staticx-tuner.zacks.com/images/zadmin_tuner_image/chart 2_2024_04_29.jpg" style="height:161px; width:620px" />
2 Communication - Infrastructure Stocks to Watch
IHS Holding: Based in London, the United Kingdom, IHS Holding is one of the largest independent owners, operators and developers of shared communications infrastructure in the world by tower count. It has more than 40,000 towers across 11 markets &mdash; Brazil, Cameroon, Colombia, Egypt, Kuwait, Nigeria, Peru, Rwanda, South Africa and Zambia. The company&#39;s open-access, shared infrastructure approach ensures a robust and scalable fiber network that multiple operators can utilize. The connectivity of towers enables the extension of fiber infrastructure into key metropolitan areas, facilitating the delivery of digital services to residences, businesses and public entities in collaboration with its clients. It has a VGM Score of A. IHS Holding carries a Zacks Rank #3 (Hold). 
Price and Consensus: IHS
<img alt="" src="https://staticx-tuner.zacks.com/images/zadmin_tuner_image/chart 3_2024_04_29.jpg" style="height:494px; width:620px" /> 
DZS Inc.: Founded in 1996 and based in Plano, TX, DZS offers network access solutions and communications platforms for service provider and enterprise networks in the United States, Canada, Latin America, Europe, the Middle East, Africa, Korea and other Asia Pacific countries. The company is likely to benefit from the secular trend of 5G deployment across the globe with healthy traction in the fiber LAN ecosystem. With better visibility and solid order trends, the company aims to gain cost efficiencies and introduce products to the market. The stock carries a Zacks Rank #3. 
Price and Consensus: DZSI
<img alt="" src="https://staticx-tuner.zacks.com/images/zadmin_tuner_image/chart 4_2024_04_29.jpg" style="height:488px; width:620px" />
<a href="https://www.zacks.com/commentary/2264177/2-communication-stocks-likely-to-stand-firm-amid-industry-gloom?cid=CS-BENZ-FT-industry_outlook-2264177">To read this article on Zacks.com click here.</a>

Shares of Westport Fuel Systems Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/wprt#NASDAQ">WPRT</a>) fell sharply during Tuesday&rsquo;s session after posting a wider-than-expected fourth-quarter loss.
Westport Fuel Systems posted a quarter loss of 81 cents per share, compared to market expectations for a loss of 51 cents per share.
Westport Fuel Systems shares dipped 9.9% to $6.52 on Monday.
Here are some other stocks moving in today&#39;s mid-day session.
<h3>Gainers</h3>
<ul>
<li>Stoke Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/stok#NASDAQ">STOK</a>) shares gained 72.6% to $11.24 after the company announced Phase 1/2a data supporting the potential for STK-001 in Dravet syndrome.</li>
<li>C3is Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ciss#NASDAQ">CISS</a>) climbed 65% to $0.0581 after the company reported a year-over-year increase in fourth-quarter financial results.</li>
<li>OpGen, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/opgn#NASDAQ">OPGN</a>) shares climbed 48.2% to $0.7039 after the company entered into a securities purchase agreement with a private investor, David Lazar, to acquire 3 million shares of Series E Convertible Preferred Stock at $1.00 per share for aggregate gross proceeds of $3.0 million.</li>
<li>Mesoblast Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/meso#NASDAQ">MESO</a>) gained 43.2% to $3.1501. Mesoblast was notified by the U.S. FDA that available clinical data from Phase 3 trial appear sufficient to support BLA submission for Remestemcel-L in children with steroid-refractory acute graft versus host disease.</li>
<li>Praxis Precision Medicines Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/prax#NASDAQ">PRAX</a>) gained 31.9% to $66.63 after the company reported results from a Phase 2a proof of concept study evaluating PRAX-628 in epilepsy patients with PPR.</li>
<li>Nuvation Bio Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nuvb#NYSE">NUVB</a>) climbed 24.4% to $2.80 after BTIG upgraded the stock from Neutral to Buy.</li>
<li>Check-Cap Ltd. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/chek#NASDAQ">CHEK</a>) shares gained 24.3% to $2.40 after the company announced that it entered into a definitive Business Combination Agreement with Nobul AI.</li>
<li>Viking Therapeutics Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/vktx#NASDAQ">VKTX</a>) shares climbed 23.3% to $85.29 after the company announced results from its Phase 1 multiple ascending dose clinical trial of an oral tablet formulation of VK2735.</li>
<li>Krispy Kreme, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dnut#NASDAQ">DNUT</a>) gained 21.3% to $15.10 after the company and McDonald&#39;s expanded their partnership, with Krispy Kreme to provide donuts at McDonald&#39;s locations nationwide.</li>
<li>Journey Medical Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/derm#NASDAQ">DERM</a>) gained 19.9% to $3.50.</li>
<li>Akso Health Group (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ahg#NASDAQ">AHG</a>) climbed 17.5% to $1.21.</li>
<li>9F Inc &ndash; ADR (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/jfu#NASDAQ">JFU</a>) gained 17% to $3.50.</li>
<li>Invivyd, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ivvd#NASDAQ">IVVD</a>) gained 17% to $3.78. Morgan Stanley analyst Maxwell Skor upgraded Invivyd from Equal-Weight to Overweight and raised the price target from $4 to $10.</li>
<li>Sunnova Energy International Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/nova#NYSE">NOVA</a>) shares gained 16.4% to $6.28 after the company announced that it will be the sole provider of solar and battery storage services in The Home Depot stores across the United States and its territories.</li>
<li>Greenwave Technology Solutions, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gwav#NASDAQ">GWAV</a>) climbed 16.3% to $0.18 after surging 24% on Monday. Greenwave Technology Solutions 13G filing showed Joseph Reda reported a 9.119% stake in the co as of March 22, 2024.</li>
<li>Reddit Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rddt#NYSE">RDDT</a>) climbed 15.8% to $69.26 amid post-IPO volatility.</li>
<li>Canopy Growth Corp (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cgc#NASDAQ">CGC</a>) shares gained 15.6% to $7.17.</li>
<li>Qurate Retail Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qrteb#NASDAQ">QRTEB</a>) climbed 13.7% to $4.40.</li>
<li>Natural Grocers by Vitamin Cottage Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ngvc#NYSE">NGVC</a>) climbed 13.4% to $19.25.</li>
<li>60 Degrees Pharmaceuticals, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/sxtp#NASDAQ">SXTP</a>) shares rose 9.8% to $0.2660 after dipping 10% on Monday.</li>
<li>Seagate Technology Holdings PLC (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/stx#NASDAQ">STX</a>) gained 9.2% to $96.33 after Morgan Stanley upgraded the stock from Equal-Weight to Overweight and raised its price target from $73 to $115.</li>
<li>McCormick &amp; Company Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/mkc#NYSE">MKC</a>) climbed 9% to $76.24 after the company reported better-than-expected first-quarter financial results.</li>
<li>IHS Holding Ltd (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ihs#NYSE">IHS</a>) climbed 7.6% to $3.74.</li>
<li>Tesla Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tsla#NASDAQ">TSLA</a>) gained 5.8% to $182.65 amid reports suggest Italy has approached the company about electric truck production.</li>
</ul>
<h3>Losers</h3>
<ul>
<li>Quhuo Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/qh#NASDAQ">QH</a>) dipped 68.5% to $0.40.</li>
<li>NeuBase Therapeutics, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/nbse#NASDAQ">NBSE</a>) fell 51.8% to $0.48 after declining around 3% on Monday.</li>
<li>Cardlytics Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/cdlx#NASDAQ">CDLX</a>) dipped 40.4% to $12.06 after the company announced a $150 million proposed convertible senior notes offering.</li>
<li>AppTech Payments Corp. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/apcx#NASDAQ">APCX</a>) fell 39.3% to $1.00 after the company priced its 2 million share offering at $1 per share.</li>
<li>Next.e.GO N.V. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/egox#NASDAQ">EGOX</a>) shares tumbled 27.6% to $0.037 after jumping around 30% on Monday.</li>
<li>Professional Diversity Network Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/ipdn#NASDAQ">IPDN</a>) fell 27.2% to $1.82.</li>
<li>Canoo Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/goev#NASDAQ">GOEV</a>) shares fell 21.4% to $3.30.</li>
<li>GDS Holdings Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gds#NASDAQ">GDS</a>) fell 20.2% to $6.68 after the company reported fourth-quarter results, disclosed equity raise and new CEO for its international business.</li>
<li>Equillium Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/eq#NASDAQ">EQ</a>) shares declined 20.1% to $1.95 following fourth-quarter results.</li>
<li>BYND Cannasoft Enterprises (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/bcan#NASDAQ">BCAN</a>) shares fell 17.9% to $1.61.</li>
<li>Murano Global Investments Plc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/mrno#NASDAQ">MRNO</a>) shares declined 17.9% to $14.78.</li>
<li>Dada Nexus Limited (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/dada#NASDAQ">DADA</a>) shares dropped 17.8% to $2.08 after the company reported downbeat fourth-quarter results.</li>
<li>Etao International (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/etao#NASDAQ">ETAO</a>) shares fell 14.7% to $4.35.</li>
<li>Tivic Health Systems, Inc. (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/tivc#NASDAQ">TIVC</a>) fell 14.4% to $1.24 after posting fourth-quarter results.</li>
<li>Akebia Therapeutics Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/akba#NASDAQ">AKBA</a>) shares dipped 9.5% to $2.00.</li>
<li>Graphjet Technology (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/gti#NASDAQ">GTI</a>) fell 9.3% to $7.26.</li>
<li>Monte Rosa Therapeutics Inc (NASDAQ: <a class="ticker" href="https://www.benzinga.com/stock/glue#NASDAQ">GLUE</a>) dipped 8.4% to $7.75.</li>
<li>Consol Energy Inc (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/ceix#NYSE">CEIX</a>) declined 8.1% to $79.36.</li>
<li>RH (NYSE: <a class="ticker" href="https://www.benzinga.com/stock/rh#NYSE">RH</a>) fell 4% to $276.00. Telsey Advisory Group analyst Joseph Feldman reiterated RH with a Market Perform and maintained a $285 price target.</li>
</ul>
&nbsp;
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AKBA

APCX

BCAN

CDLX

CEIX

CHEK

CISS

DADA

DERM

DNUT

EGOX

ETAO

GLUE

GOEV

GWAV

IPDN

IVVD

Why Westport Fuel Systems Shares Are Trading Lower By Around 10%? Here Are Other Stocks Moving In Tuesday's Mid-Day Session

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