S&P Global (NYSE:SPGI) was upgraded by Zacks Investment Research from a “sell” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “S&P Global continues to benefit from growing demand for business information services. Acquisition acted as a key growth catalyst for S&P Global, helping it innovate, increase differentiated content and develop new products. Effective execution of management has resulted in significant amount of cash flow for the company. Despite such positives, the company remains vulnerable to proceedings, investigations and inquiries with respect to the ratings provided, leading to legal charges, damages or fines. Weak issuance in the U.S. and Asia is weighing on S&P Global’s Ratings revenue. The company operates in a highly competitive market of credit rating, research, investment and advisory services. Its shares have underperformed the industry in the past year.”
Several other brokerages have also issued reports on SPGI. Goldman Sachs Group initiated coverage on S&P Global in a research note on Wednesday, November 14th. They issued a “buy” rating and a $225.00 target price for the company. Raymond James cut their target price on S&P Global from $222.00 to $215.00 and set an “outperform” rating for the company in a research note on Friday, October 26th. BMO Capital Markets cut their target price on S&P Global from $197.00 to $185.00 and set a “market perform” rating for the company in a research note on Friday, October 26th. ValuEngine raised S&P Global from a “hold” rating to a “buy” rating in a research note on Thursday, January 24th. Finally, Atlantic Securities upgraded S&P Global from a “neutral” rating to an “overweight” rating and set a $210.00 price objective for the company in a research report on Friday, January 11th. Six investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $205.82.
Shares of SPGI opened at $197.18 on Tuesday. The company has a market capitalization of $48.99 billion, a price-to-earnings ratio of 23.20, a PEG ratio of 1.55 and a beta of 1.15. The company has a quick ratio of 1.44, a current ratio of 1.37 and a debt-to-equity ratio of 5.35. S&P Global has a 1 year low of $156.68 and a 1 year high of $217.31.
S&P Global (NYSE:SPGI) last issued its earnings results on Thursday, February 7th. The business services provider reported $2.22 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.20 by $0.02. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.60 billion. S&P Global had a return on equity of 367.09% and a net margin of 31.30%. S&P Global’s revenue for the quarter was down 3.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.85 earnings per share. Sell-side analysts anticipate that S&P Global will post 9.04 earnings per share for the current fiscal year.
In related news, CFO Ewout L. Steenbergen sold 4,000 shares of the company’s stock in a transaction that occurred on Monday, February 11th. The stock was sold at an average price of $194.20, for a total transaction of $776,800.00. Following the completion of the transaction, the chief financial officer now owns 5,239 shares in the company, valued at $1,017,413.80. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Alexander Matturri, Jr. sold 1,791 shares of the company’s stock in a transaction that occurred on Tuesday, February 12th. The shares were sold at an average price of $195.74, for a total value of $350,570.34. Following the transaction, the chief executive officer now owns 17,354 shares of the company’s stock, valued at approximately $3,396,871.96. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.
Several institutional investors have recently made changes to their positions in the stock. Vanguard Group Inc raised its holdings in shares of S&P Global by 1.0% during the third quarter. Vanguard Group Inc now owns 20,446,977 shares of the business services provider’s stock valued at $3,995,135,000 after acquiring an additional 195,642 shares in the last quarter. Matthew Goff Investment Advisor LLC raised its holdings in shares of S&P Global by 2,325.0% during the third quarter. Matthew Goff Investment Advisor LLC now owns 11,894,019 shares of the business services provider’s stock valued at $490,475,000 after acquiring an additional 11,403,544 shares in the last quarter. FMR LLC raised its holdings in shares of S&P Global by 6.4% during the second quarter. FMR LLC now owns 10,698,339 shares of the business services provider’s stock valued at $2,181,285,000 after acquiring an additional 642,229 shares in the last quarter. Edgewood Management LLC raised its holdings in shares of S&P Global by 1.5% during the third quarter. Edgewood Management LLC now owns 6,553,573 shares of the business services provider’s stock valued at $1,280,503,000 after acquiring an additional 97,455 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund raised its holdings in shares of S&P Global by 7,358.5% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 5,418,367 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 5,345,720 shares in the last quarter. Institutional investors own 84.66% of the company’s stock.
S&P Global Company Profile
S&P Global Inc provides independent ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. It operates through three segments: Ratings, Market and Commodities Intelligence, and S&P Dow Jones Indices. The Ratings segment provides credit ratings, research, and analytics to investors, issuers, and other market participants.
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