S&P Global Inc. (SPGI) Downgraded by Zacks Investment Research to Sell
Zacks Investment Research downgraded shares of S&P Global Inc. (NYSE:SPGI) from a hold rating to a sell rating in a research note published on Tuesday.
According to Zacks, “S&P Global’s performance is likely to be hurt by lower volume of debt securities issued in the capital markets. Financial distress could either dent investor’s demand for debt securities or make issuers reluctant to issue such securities. Additionally, increase in interest rates or credit spreads may adversely affect the general level of debt issuance. The company further expects that Brexit could affect debt issuance in Europe. Several lawsuits have also hampered the credibility of S&P Global and adversely impacted its financial results. In addition, the market for credit rating, research, investment and advisory services is highly competitive, which weighs upon the top line and strains margins. However, S&P Global’s strategic portfolio restructuring initiatives and focus on core business are likely to drive future growth. The company outperformed the industry year to date.”
Several other equities analysts have also issued reports on SPGI. BMO Capital Markets increased their target price on S&P Global from $152.00 to $161.00 and gave the stock a no rating at time rating in a research note on Friday, July 14th. Morgan Stanley restated an equal weight rating and set a $146.00 target price (up from $145.00) on shares of S&P Global in a report on Friday, July 14th. UBS AG lifted their target price on S&P Global from $154.00 to $175.00 and gave the company a buy rating in a research report on Friday, July 28th. Finally, Barclays PLC lifted their target price on S&P Global from $150.00 to $155.00 and gave the company an overweight rating in a research report on Wednesday, June 28th. One analyst has rated the stock with a sell rating, one has given a hold rating and eight have issued a buy rating to the company. The company currently has a consensus rating of Buy and an average target price of $157.50.
S&P Global (SPGI) traded up 0.08% on Tuesday, reaching $159.34. The company’s stock had a trading volume of 127,392 shares. The company has a 50 day moving average of $153.51 and a 200 day moving average of $144.43. S&P Global has a 52 week low of $107.21 and a 52 week high of $159.81. The firm has a market capitalization of $40.95 billion, a price-to-earnings ratio of 18.56 and a beta of 1.50.
S&P Global (NYSE:SPGI) last released its quarterly earnings results on Thursday, July 27th. The business services provider reported $1.72 EPS for the quarter, topping the consensus estimate of $1.57 by $0.15. S&P Global had a return on equity of 202.37% and a net margin of 38.78%. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period last year, the business posted $1.44 earnings per share. The company’s quarterly revenue was up 1.8% on a year-over-year basis. On average, analysts forecast that S&P Global will post $6.34 earnings per share for the current year.
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In related news, SVP Nancy Luquette sold 860 shares of S&P Global stock in a transaction 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 transaction, the senior vice president now directly owns 106 shares in the company, valued at $16,059. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 0.20% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in SPGI. Koch Industries Inc. acquired a new stake in S&P Global in the 1st quarter valued at about $365,000. Schwab Charles Investment Management Inc. boosted its stake in shares of S&P Global by 5.0% in the 1st quarter. Schwab Charles Investment Management Inc. now owns 815,937 shares of the business services provider’s stock valued at $106,676,000 after buying an additional 38,665 shares during the period. Davis Selected Advisers boosted its stake in shares of S&P Global by 2.7% in the 2nd quarter. Davis Selected Advisers now owns 181,288 shares of the business services provider’s stock valued at $26,466,000 after buying an additional 4,810 shares during the period. Bridgewater Associates LP purchased a new position in shares of S&P Global in the 1st quarter valued at about $3,860,000. Finally, Israel Discount Bank of New York purchased a new position in shares of S&P Global in the 1st quarter valued at about $222,000. 85.34% of the stock is owned by hedge funds and other institutional investors.
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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