S&P Global (NYSE:SPGI) Price Target Raised to $390.00

S&P Global (NYSE:SPGI) had its price objective raised by JPMorgan Chase & Co. from $325.00 to $390.00 in a research note issued to investors on Wednesday morning, BenzingaRatingsTable reports. They currently have an overweight rating on the business services provider’s stock.

Several other research analysts also recently commented on the stock. Goldman Sachs Group raised shares of S&P Global from a buy rating to a conviction-buy rating and raised their price target for the company from $336.00 to $397.00 in a report on Wednesday, July 8th. Jefferies Financial Group upped their target price on S&P Global from $339.00 to $400.00 and gave the stock a buy rating in a research note on Wednesday. Credit Suisse Group started coverage on S&P Global in a research report on Friday, May 29th. They set an outperform rating and a $345.00 price target for the company. Barclays upped their price objective on shares of S&P Global from $260.00 to $365.00 and gave the stock an overweight rating in a research report on Wednesday, June 3rd. Finally, Stifel Nicolaus lifted their target price on shares of S&P Global from $331.00 to $351.00 and gave the company a hold rating in a research report on Wednesday. Four investment analysts have rated the stock with a hold rating, thirteen have assigned a buy rating and one has assigned a strong buy rating to the 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 mid-day trading on Wednesday, hitting $350.25. The company had a trading volume of 1,126,780 shares, compared to its average volume of 857,626. The company has a current ratio of 1.47, a quick ratio of 1.24 and a debt-to-equity ratio of 16.90. S&P Global has a 1 year low of $186.05 and a 1 year high of $360.00. The company has a market capitalization of $84.41 billion, a price-to-earnings ratio of 31.69, a P/E/G ratio of 3.22 and a beta of 1.05. The stock’s 50-day moving average price is $337.97 and its 200-day moving average price is $297.60.

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

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Wednesday, August 26th will be given a $0.67 dividend. This represents a $2.68 dividend on an annualized basis and a dividend yield of 0.77%. The ex-dividend date of this dividend is Tuesday, August 25th. S&P Global’s payout ratio is 28.12%.

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

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. NuWave Investment Management LLC bought a new stake in shares of S&P Global during the 2nd quarter valued at $31,000. Liberty Wealth Management LLC bought a new stake in shares of S&P Global in the 1st quarter worth approximately $29,000. Beese Fulmer Investment Management Inc. purchased a new stake in shares of S&P Global in the 2nd quarter worth approximately $43,000. Pinnacle Bank increased its position in S&P Global by 183.7% during the 1st quarter. Pinnacle Bank now owns 139 shares of the business services provider’s stock valued at $34,000 after buying an additional 90 shares in the last quarter. Finally, Cognios Capital LLC bought a new position in S&P Global during the 1st quarter valued at approximately $35,000. Institutional investors own 82.81% of the company’s stock.

About S&P Global

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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