S&P Global Inc. (SPGI) Downgraded to Hold at Zacks Investment Research
S&P Global Inc. (NYSE:SPGI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report issued on Friday.
According to Zacks, “S&P Global reported solid second-quarter 2017 results with healthy year-over-year increase in adjusted earnings and revenues. S&P Global’s strategic portfolio restructuring and focus on core business will continue to drive growth, going forward. This apart, strategic acquisitions and positive industry trends like surge of new high-yield bonds and leveraged loans, fuelled by tight interest-rate spreads, augur well for long-term growth. The company outperformed the industry year to date. Management further increased its guidance on favorable growth dynamics. However, its 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.”
SPGI has been the subject of several other reports. UBS AG boosted their price objective on S&P Global from $154.00 to $175.00 and gave the company a “buy” rating in a report on Friday, July 28th. Cantor Fitzgerald reissued an “overweight” rating and issued a $153.00 price objective (up from $139.00) on shares of S&P Global in a report on Wednesday, April 26th. BMO Capital Markets boosted their price objective on S&P Global from $152.00 to $161.00 and gave the company a “no rating at time” rating in a report on Friday, July 14th. Morgan Stanley reaffirmed 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. Finally, Raymond James Financial, Inc. raised S&P Global from a “market perform” rating to an “outperform” rating and set a $143.00 target price for the company in a report on Monday, April 17th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. The company has an average rating of “Buy” and a consensus target price of $153.82.
S&P Global (NYSE:SPGI) traded up 0.51% on Friday, hitting $149.09. The stock had a trading volume of 86,808 shares. The firm has a market cap of $38.32 billion, a PE ratio of 17.37 and a beta of 1.52. The company’s 50 day moving average is $149.90 and its 200 day moving average is $137.21. S&P Global has a 12-month low of $107.21 and a 12-month high of $158.35.
S&P Global (NYSE:SPGI) last announced its quarterly earnings data on Thursday, July 27th. The business services provider reported $1.72 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.57 by $0.15. The firm 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%. S&P Global’s quarterly revenue was up 1.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.44 earnings per share. On average, equities research analysts expect that S&P Global will post $6.34 EPS for the current fiscal year.
In other S&P Global news, Director Marco Alvera acquired 400 shares of S&P Global stock in a transaction dated Tuesday, May 30th. The stock was acquired at an average cost of $140.09 per share, for a total transaction of $56,036.00. Following the completion of the transaction, the director now owns 400 shares in the company, valued at approximately $56,036. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Insiders own 0.20% of the company’s stock.
A number of large investors have recently added to or reduced their stakes in the company. Advisory Services Network LLC purchased a new stake in S&P Global during the first quarter worth $101,000. American Beacon Advisors Inc. purchased a new stake in S&P Global during the first quarter worth $103,000. Penserra Capital Management LLC purchased a new stake in S&P Global during the second quarter worth $106,000. State of Alaska Department of Revenue purchased a new stake in S&P Global during the first quarter worth $125,000. Finally, Guardian Life Insurance Co. of America increased its stake in S&P Global by 1.0% in the first quarter. Guardian Life Insurance Co. of America now owns 999 shares of the business services provider’s stock worth $131,000 after buying an additional 10 shares during the period. Hedge funds and other institutional investors own 85.62% of the company’s stock.
About S&P Global
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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