S&P Global Inc. (NYSE:SPGI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report issued on Friday. The firm currently has a $135.00 target price on the stock. Zacks Investment Research’s target price suggests a potential upside of 12.30% from the company’s previous close.
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.”
Several other research analysts have also recently issued reports on the stock. Barclays PLC increased their target price on shares of S&P Global from $115.00 to $140.00 and gave the stock an “overweight” rating in a report on Tuesday, August 23rd. Macquarie started coverage on shares of S&P Global in a report on Thursday, August 25th. They set an “outperform” rating and a $140.00 target price on the stock. Cantor Fitzgerald set a $117.00 target price on shares of S&P Global and gave the stock a “buy” rating in a report on Thursday, July 28th. Credit Suisse Group AG reiterated an “outperform” rating and set a $131.00 target price on shares of S&P Global in a report on Sunday, November 20th. Finally, Argus increased their target price on shares of S&P Global from $120.00 to $135.00 and gave the stock a “buy” rating in a report on Wednesday, August 17th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of “Buy” and a consensus price target of $131.86.
Shares of S&P Global (NYSE:SPGI) traded down 0.24% during mid-day trading on Friday, reaching $119.92. 1,395,459 shares of the company’s stock were exchanged. The company has a market capitalization of $31.07 billion, a PE ratio of 17.68 and a beta of 1.50. S&P Global has a one year low of $78.55 and a one year high of $128.40. The company’s 50-day moving average price is $123.15 and its 200-day moving average price is $117.58.
S&P Global (NYSE:SPGI) last issued its earnings results on Thursday, November 3rd. The company reported $1.43 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.34 by $0.09. S&P Global had a net margin of 32.24% and a return on equity of 378.19%. The company had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the prior year, the business earned $1.19 EPS. The firm’s quarterly revenue was up 8.8% on a year-over-year basis. On average, equities analysts expect that S&P Global will post $5.27 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Monday, December 12th. Investors of record on Monday, November 28th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a yield of 1.20%. The ex-dividend date of this dividend is Wednesday, November 23rd. S&P Global’s dividend payout ratio (DPR) is presently 21.15%.
In related news, SVP Nancy Luquette sold 500 shares of S&P Global stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $123.08, for a total value of $61,540.00. Following the completion of the sale, the senior vice president now directly owns 133 shares in the company, valued at approximately $16,369.64. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.60% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the company. Bank of Stockton bought a new stake in S&P Global during the second quarter worth approximately $373,000. Packer & Co Ltd bought a new stake in S&P Global during the second quarter worth approximately $33,904,000. Chevy Chase Trust Holdings Inc. bought a new stake in S&P Global during the second quarter worth approximately $24,263,000. Richard Bernstein Advisors LLC bought a new stake in S&P Global during the second quarter worth approximately $2,578,000. Finally, Exxonmobil Investment Management Inc. TX bought a new stake in S&P Global during the second quarter worth approximately $7,346,000. Institutional investors own 86.61% of the company’s stock.
About S&P Global
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.