BMO Capital Markets Reiterates “Buy” Rating for S&P Global Inc. (SPGI)
S&P Global Inc. (NYSE:SPGI)‘s stock had its “buy” rating restated by equities researchers at BMO Capital Markets in a research report issued to clients and investors on Friday. They currently have a $177.00 price target on the business services provider’s stock. BMO Capital Markets’ price objective suggests a potential upside of 9.38% from the company’s current price.
Several other equities research analysts have also issued reports on SPGI. Barclays PLC lifted their price target on S&P Global from $150.00 to $155.00 and gave the company an “overweight” rating in a report on Wednesday, June 28th. Zacks Investment Research lowered S&P Global from a “buy” rating to a “hold” rating in a report on Wednesday, July 12th. Morgan Stanley reiterated an “equal weight” rating and set a $146.00 price target (up from $145.00) on shares of S&P Global in a report on Friday, July 14th. Finally, UBS AG lifted their price target on S&P Global from $154.00 to $175.00 and gave the company a “buy” rating in a report on Friday, July 28th. One research analyst has rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The company has a consensus rating of “Buy” and an average target price of $160.30.
S&P Global (SPGI) traded up 0.43% on Friday, reaching $161.82. 990,611 shares of the company traded hands. The stock has a market capitalization of $41.59 billion, a price-to-earnings ratio of 18.85 and a beta of 1.50. S&P Global has a 52-week low of $107.21 and a 52-week high of $162.96. The firm has a 50 day moving average price of $155.56 and a 200 day moving average price of $146.09.
S&P Global (NYSE:SPGI) last announced its quarterly earnings results on Thursday, July 27th. The business services provider reported $1.72 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.57 by $0.15. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.46 billion. S&P Global had a return on equity of 202.37% and a net margin of 38.78%. The firm’s revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.44 EPS. Equities research analysts predict that S&P Global will post $6.35 EPS for the current year.
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In related news, SVP Nancy Luquette sold 860 shares of the business’s stock in a transaction that occurred on Wednesday, August 23rd. The stock was sold at an average price of $151.50, for a total value of $130,290.00. Following the completion of the sale, the senior vice president now directly owns 106 shares in the company, valued at approximately $16,059. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 0.20% of the stock is currently owned by insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in S&P Global by 2.0% in the 2nd quarter. Vanguard Group Inc. now owns 19,774,884 shares of the business services provider’s stock worth $2,886,935,000 after purchasing an additional 379,537 shares during the last quarter. BlackRock Inc. lifted its holdings in S&P Global by 11.3% in the 2nd quarter. BlackRock Inc. now owns 17,197,188 shares of the business services provider’s stock worth $2,510,617,000 after purchasing an additional 1,744,482 shares during the last quarter. Artisan Partners Limited Partnership lifted its holdings in S&P Global by 0.3% in the 2nd quarter. Artisan Partners Limited Partnership now owns 7,089,999 shares of the business services provider’s stock worth $1,035,069,000 after purchasing an additional 18,758 shares during the last quarter. Independent Franchise Partners LLP lifted its holdings in S&P Global by 0.6% in the 2nd quarter. Independent Franchise Partners LLP now owns 4,984,751 shares of the business services provider’s stock worth $727,723,000 after purchasing an additional 30,708 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in S&P Global by 8.2% in the 1st quarter. Geode Capital Management LLC now owns 2,294,233 shares of the business services provider’s stock worth $299,478,000 after purchasing an additional 173,058 shares during the last quarter. Hedge funds and other institutional investors own 85.34% of the company’s stock.
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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