Zacks Investment Research downgraded shares of S&P Global (NYSE:SPGI) from a buy rating to a hold rating in a report released on Friday, January 5th. The firm currently has $188.00 target price on the business services provider’s stock.
According to Zacks, “S&P Global’s strategic portfolio restructuring initiatives and focus on core business are likely to drive growth. The acquisition of SNL Financial is likely to complement the S&P Capital IQ and Platts businesses. The company’s Standard & Poor's Ratings Services appears to be a long-term growth driver as corporate and U.S. structured finance issuance is picking up momentum with increasing capital infusion in the economy as well as positive growth in M&A activity. The company also outperformed the industry in the last three months. However, S&P Global’s performance is likely to be hurt by lower volume of debt securities issued in the capital markets. Several lawsuits have also hampered the credibility of the company and adversely impacted its financial results. Stiff industry competition is further likely to weigh upon the top line and strain margins.”
Several other research analysts have also recently commented on SPGI. Barclays raised their target price on S&P Global from $160.00 to $170.00 and gave the stock an overweight rating in a research report on Friday, September 15th. Morgan Stanley raised their target price on S&P Global from $154.00 to $158.00 and gave the stock an equal weight rating in a research report on Friday, October 6th. BMO Capital Markets reaffirmed a buy rating and issued a $177.00 target price on shares of S&P Global in a research report on Friday, October 13th. Goldman Sachs Group reaffirmed a neutral rating and issued a $176.00 target price on shares of S&P Global in a research report on Wednesday, October 18th. Finally, BidaskClub cut S&P Global from a strong-buy rating to a buy rating in a report on Friday, October 20th. Six investment analysts have rated the stock with a hold rating and eight have given a buy rating to the company’s stock. S&P Global presently has an average rating of Buy and a consensus price target of $172.00.
S&P Global (NYSE SPGI) opened at $180.34 on Friday. S&P Global has a twelve month low of $118.79 and a twelve month high of $185.34. The company has a market capitalization of $45,990.00, a P/E ratio of 26.48, a P/E/G ratio of 1.95 and a beta of 1.51. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 4.00.
S&P Global (NYSE:SPGI) last released its quarterly earnings data on Thursday, October 26th. The business services provider reported $1.71 EPS for the quarter, topping analysts’ consensus estimates of $1.52 by $0.19. The firm had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.45 billion. S&P Global had a return on equity of 187.30% and a net margin of 30.15%. The firm’s revenue was up 5.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.43 earnings per share. analysts expect that S&P Global will post 6.68 EPS for the current fiscal year.
In related news, CEO Douglas L. Peterson sold 4,000 shares of S&P Global stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $157.79, for a total value of $631,160.00. Following the completion of the sale, the chief executive officer now directly owns 140,743 shares in the company, valued at $22,207,837.97. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, EVP Courtney Geduldig sold 1,596 shares of the business’s stock in a transaction dated Friday, November 3rd. The stock was sold at an average price of $156.50, for a total value of $249,774.00. Following the transaction, the executive vice president now owns 2,663 shares of the company’s stock, valued at $416,759.50. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 7,000 shares of company stock valued at $1,104,704. 0.20% of the stock is currently owned by corporate insiders.
Several institutional investors have recently bought and sold shares of the company. Wright Investors Service Inc. grew its position in shares of S&P Global by 116.2% during the 4th quarter. Wright Investors Service Inc. now owns 3,492 shares of the business services provider’s stock worth $592,000 after buying an additional 1,877 shares during the period. LMR Partners LLP grew its position in shares of S&P Global by 127.8% during the 4th quarter. LMR Partners LLP now owns 18,265 shares of the business services provider’s stock worth $3,094,000 after buying an additional 10,247 shares during the period. Elite Wealth Management Inc. acquired a new position in shares of S&P Global during the 4th quarter worth about $952,000. Twin Capital Management Inc. grew its position in shares of S&P Global by 90.5% during the 4th quarter. Twin Capital Management Inc. now owns 56,080 shares of the business services provider’s stock worth $9,500,000 after buying an additional 26,640 shares during the period. Finally, Sowell Financial Services LLC acquired a new position in shares of S&P Global during the 4th quarter worth about $332,000. Institutional investors own 85.49% of the company’s stock.
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S&P Global Company Profile
S&P Global Inc, formerly McGraw Hill Financial Inc, is a provider of ratings, benchmarks, analytics and data to the capital and commodity markets around the world. The Company operates through three segments: Ratings, which provides credit ratings, research and analytics to investors, issuers and other market participants; Market and Commodities Intelligence, which offers multi-asset-class data, research and analytical capabilities that integrate cross-asset analytics and desktop services, and deliver their customers in the commodity and energy markets access to information, data, analytic services and pricing and benchmarks, and S&P Dow Jones Indices (Indices), which is an index provider that maintains a range of valuation and index benchmarks for investment advisors, wealth managers and institutional investors.
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