S&P Global (NYSE:SPGI) Price Target Raised to $600.00

S&P Global (NYSE:SPGI) had its target price boosted by investment analysts at Morgan Stanley from $595.00 to $600.00 in a research note issued to investors on Wednesday,Benzinga reports. The brokerage currently has an “overweight” rating on the business services provider’s stock. Morgan Stanley’s target price would suggest a potential upside of 13.19% from the company’s previous close.

Other equities analysts have also recently issued research reports about the company. Robert W. Baird lifted their price target on S&P Global from $536.00 to $575.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Oppenheimer lowered their target price on S&P Global from $590.00 to $580.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Citigroup began coverage on S&P Global in a research note on Friday, December 20th. They set a “buy” rating and a $600.00 target price on the stock. Wells Fargo & Company lifted their target price on S&P Global from $617.00 to $633.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, UBS Group lifted their target price on S&P Global from $605.00 to $610.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat.com, S&P Global has a consensus rating of “Moderate Buy” and a consensus price target of $586.85.

S&P Global Trading Down 1.9 %

SPGI traded down $10.43 during trading on Wednesday, reaching $530.09. The company had a trading volume of 536,075 shares, compared to its average volume of 1,308,511. The firm’s 50-day simple moving average is $506.13 and its 200 day simple moving average is $506.36. The company has a market cap of $164.49 billion, a price-to-earnings ratio of 46.79, a PEG ratio of 2.39 and a beta of 1.20. S&P Global has a 12-month low of $407.69 and a 12-month high of $542.00. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.94 and a current ratio of 0.94.

S&P Global (NYSE:SPGI) last issued its quarterly earnings results on Tuesday, February 11th. The business services provider reported $3.77 earnings per share for the quarter, topping analysts’ consensus estimates of $3.41 by $0.36. S&P Global had a return on equity of 13.72% and a net margin of 25.80%. During the same period in the previous year, the company posted $3.13 EPS. Equities research analysts anticipate that S&P Global will post 15.34 earnings per share for the current year.

Institutional Investors Weigh In On S&P Global

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. RWA Wealth Partners LLC lifted its holdings in S&P Global by 370.6% in the 4th quarter. RWA Wealth Partners LLC now owns 33,490 shares of the business services provider’s stock worth $16,679,000 after purchasing an additional 26,373 shares during the last quarter. Schroder Investment Management Group lifted its holdings in S&P Global by 8.7% in the 4th quarter. Schroder Investment Management Group now owns 254,859 shares of the business services provider’s stock worth $126,927,000 after purchasing an additional 20,351 shares during the last quarter. Arrowstreet Capital Limited Partnership acquired a new stake in S&P Global in the 4th quarter worth approximately $56,231,000. American Money Management LLC lifted its holdings in S&P Global by 1.0% in the 4th quarter. American Money Management LLC now owns 4,945 shares of the business services provider’s stock worth $2,463,000 after purchasing an additional 50 shares during the last quarter. Finally, Okabena Investment Services Inc. lifted its holdings in S&P Global by 4.5% in the 4th quarter. Okabena Investment Services Inc. now owns 4,926 shares of the business services provider’s stock worth $2,453,000 after purchasing an additional 210 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

About S&P Global

S&P Global, Inc engages in the provision of transparent and independent ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. It operates through the following segments: Market Intelligence, Ratings, Commodity Insights, Mobility, Indices, and Engineering Solutions.