S&P Global (NYSE:SPGI) Price Target Raised to $351.00

S&P Global (NYSE:SPGI) had its price target raised by Stifel Nicolaus from $331.00 to $351.00 in a research note issued to investors on Wednesday, BenzingaRatingsTable reports. The firm currently has a hold rating on the business services provider’s stock.

Several other research analysts have also weighed in on the company. Goldman Sachs Group upgraded S&P Global from a buy rating to a conviction-buy rating and increased their price objective for the stock from $336.00 to $397.00 in a research report on Wednesday, July 8th. Jefferies Financial Group raised their price objective on S&P Global from $339.00 to $400.00 and gave the stock a buy rating in a research report on Wednesday. Oppenheimer assumed coverage on shares of S&P Global in a research report on Tuesday. They issued a buy rating and a $396.00 target price on the stock. Morgan Stanley increased their target price on shares of S&P Global from $361.00 to $383.00 and gave the stock an overweight rating in a research note on Wednesday. Finally, Credit Suisse Group started coverage on shares of S&P Global in a research note on Friday, May 29th. They issued an outperform rating and a $345.00 price target on the stock. Four analysts have rated the stock with a hold rating, thirteen have given a buy rating and one has issued a strong buy rating to the company’s stock. The company has an average rating of Buy and a consensus price target of $337.06.

Shares of NYSE SPGI traded down $2.12 during trading on Wednesday, hitting $350.25. 1,126,780 shares of the company were exchanged, compared to its average volume of 857,626. The company has a fifty day moving average price of $337.97 and a 200-day moving average price of $297.60. The company has a debt-to-equity ratio of 16.90, a quick ratio of 1.24 and a current ratio of 1.47. The firm has a market capitalization of $84.41 billion, a PE ratio of 31.69, a P/E/G ratio of 3.22 and a beta of 1.05. S&P Global has a 12-month low of $186.05 and a 12-month high of $360.00.

S&P Global (NYSE:SPGI) last issued its earnings results on Tuesday, July 28th. The business services provider reported $3.40 EPS for the quarter, topping analysts’ consensus estimates of $2.76 by $0.64. S&P Global had a net margin of 36.19% and a return on equity of 1,072.73%. The company had revenue of $1.94 billion for the quarter, compared to the consensus estimate of $1.78 billion. During the same period in the previous year, the firm earned $2.43 earnings per share. S&P Global’s quarterly revenue was up 14.0% compared to the same quarter last year. Research analysts anticipate that S&P Global will post 10.94 earnings per share for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 10th. Investors of record on Wednesday, August 26th will be issued a $0.67 dividend. This represents a $2.68 annualized dividend and a yield of 0.77%. The ex-dividend date of this dividend is Tuesday, August 25th. S&P Global’s dividend payout ratio (DPR) is presently 28.12%.

In related news, CEO Douglas L. Peterson sold 30,000 shares of the stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $351.44, for a total value of $10,543,200.00. Following the transaction, the chief executive officer now directly owns 173,293 shares of the company’s stock, valued at approximately $60,902,091.92. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CFO Ewout L. Steenbergen sold 8,800 shares of the stock in a transaction on Thursday, July 30th. The shares were sold at an average price of $350.59, for a total transaction of $3,085,192.00. Following the completion of the transaction, the chief financial officer now directly owns 18,291 shares in the company, valued at $6,412,641.69. The disclosure for this sale can be found here. Corporate insiders own 0.20% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Liberty Wealth Management LLC acquired a new stake in shares of S&P Global in the first quarter valued at approximately $29,000. NuWave Investment Management LLC purchased a new stake in S&P Global in the 2nd quarter valued at $31,000. Pinnacle Bank boosted its stake in S&P Global by 183.7% during the 1st quarter. Pinnacle Bank now owns 139 shares of the business services provider’s stock worth $34,000 after purchasing an additional 90 shares during the period. Cognios Capital LLC acquired a new stake in S&P Global during the 1st quarter worth $35,000. Finally, Global Retirement Partners LLC grew its position in S&P Global by 148.5% during the 1st quarter. Global Retirement Partners LLC now owns 164 shares of the business services provider’s stock worth $40,000 after purchasing an additional 98 shares during the last quarter. Institutional investors own 82.81% of the company’s stock.

S&P Global Company Profile

S&P Global Inc, together with its subsidiaries, provides ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. The company operates through four segments: S&P Global Ratings (Ratings), S&P Global Market Intelligence (Market Intelligence), S&P Global Platts (Platts), and S&P Dow Jones Indices (Indices).

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Analyst Recommendations for S&P Global (NYSE:SPGI)

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