S&P Global Inc. (NYSE:SPGI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued to investors on Friday. The firm presently has a $135.00 price target on the stock. Zacks Investment Research’s price objective would suggest a potential upside of 12.30% from the stock’s current price.
According to Zacks, “S&P Global continues to impress investors with better-than-expected earnings for the 15th consecutive quarter. Further, the company surpassed the revenues estimate for the second straight quarter with strong performances across S&P Global Ratings and S&P Global Market Intelligence. The company raised its 2016 earnings guidance on the back of healthy growth dynamics. S&P Global is now focusing on its core business that would help it emerge as a leader among rating providers, benchmark providers, and analytics in the global capital and commodity markets. The accretive acquisition of SNL Financial also augurs well for the long-term growth of the company. Over the years, the company has consistently returned significant cash to its shareholders through dividends and share repurchases. However, financial distress could either dent investor’s demand for debt securities or make issuers reluctant to issue such securities.”
A number of other research analysts have also recently issued reports on SPGI. Macquarie began coverage on S&P Global in a research note on Thursday, August 25th. They issued an “outperform” rating and a $140.00 target price for the company. Credit Suisse Group AG reissued an “outperform” rating and issued a $131.00 target price on shares of S&P Global in a research note on Sunday, November 20th. Argus boosted their target price on S&P Global from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, August 17th. Cantor Fitzgerald set a $117.00 target price on S&P Global and gave the company a “buy” rating in a research note on Thursday, July 28th. Finally, Barclays PLC raised S&P Global from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $140.00 to $145.00 in a research note on Wednesday, September 21st. One analyst has rated the stock with a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $131.86.
Shares of S&P Global (NYSE:SPGI) traded down 0.24% on Friday, hitting $119.92. The company had a trading volume of 1,395,459 shares. S&P Global has a 12-month low of $78.55 and a 12-month high of $128.40. The firm has a market capitalization of $31.07 billion, a P/E ratio of 17.68 and a beta of 1.50. The firm has a 50 day moving average of $123.15 and a 200-day moving average of $117.58.
S&P Global (NYSE:SPGI) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. S&P Global had a return on equity of 378.19% and a net margin of 32.24%. The business earned $1.44 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the previous year, the firm earned $1.19 earnings per share. The firm’s quarterly revenue was up 8.8% compared to the same quarter last year. On average, equities analysts predict that S&P Global will post $5.27 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, December 12th. Stockholders of record on Monday, November 28th will be given a dividend of $0.36 per share. The ex-dividend date is Wednesday, November 23rd. This represents a $1.44 annualized dividend and a dividend yield of 1.20%. S&P Global’s dividend payout ratio is currently 21.15%.
In other news, SVP Nancy Luquette sold 500 shares of the company’s stock in a transaction dated Tuesday, September 13th. The stock was sold at an average price of $123.08, for a total transaction of $61,540.00. Following the completion of the transaction, the senior vice president now directly owns 133 shares of the company’s stock, valued at $16,369.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Insiders own 0.60% of the company’s stock.
A number of hedge funds have recently added to or reduced their stakes in the company. HighPoint Advisor Group LLC bought a new stake in S&P Global during the third quarter valued at about $238,000. ETRADE Capital Management LLC bought a new stake in S&P Global during the third quarter valued at about $210,000. D.A. Davidson & CO. raised its stake in S&P Global by 9,015.6% in the third quarter. D.A. Davidson & CO. now owns 34,457 shares of the company’s stock valued at $4,360,000 after buying an additional 34,079 shares during the last quarter. Piedmont Investment Advisors LLC bought a new stake in S&P Global during the third quarter valued at about $6,866,000. Finally, Scout Investments Inc. bought a new stake in S&P Global during the third quarter valued at about $277,000. Institutional investors and hedge funds own 86.61% of the company’s stock.
S&P Global Company Profile
S&P Global Inc, formerly McGraw Hill Financial, Inc, is a provider of transparent and independent ratings, benchmarks, analytics and data to the capital and commodity markets across the world. The Company’s products cater to the capital markets, which includes asset managers, investment banks, commercial banks, exchanges and issuers; the commodities markets, which includes producers, traders and intermediaries within energy, metals, petrochemicals and agriculture, and the commercial markets, which includes professionals and corporate executives within automotive and marketing/research information services.