S&P Global Inc. (NYSE:SPGI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Monday.
According to Zacks, “S&P Global shares have outperformed the Business Information Services industry year to date. The company continues to impress investors with better-than-expected earnings for the 15th consecutive quarter and surpassed 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. 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. High volatility and stiff competitive pressures remain additional headwinds for S&P Global.”
SPGI has been the subject of several other reports. Macquarie assumed coverage on S&P Global in a research note on Thursday, August 25th. They issued an “outperform” rating and a $140.00 price objective for the company. Argus raised their price target on S&P Global from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, August 17th. Credit Suisse Group AG reaffirmed an “outperform” rating and set a $131.00 price target on shares of S&P Global in a research note on Sunday, November 20th. Barclays PLC raised S&P Global from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $140.00 to $145.00 in a research note on Wednesday, September 21st. Finally, Cantor Fitzgerald reaffirmed a “buy” rating on shares of S&P Global in a research note on Friday, August 19th. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus target price of $131.86.
S&P Global (NYSE:SPGI) traded down 0.89% during trading on Monday, hitting $118.85. The stock had a trading volume of 1,195,952 shares. The firm has a market cap of $30.79 billion, a PE ratio of 17.53 and a beta of 1.50. The company’s 50-day moving average is $123.00 and its 200 day moving average is $117.69. S&P Global has a 52 week low of $78.55 and a 52 week high of $128.40.
S&P Global (NYSE:SPGI) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.34 by $0.09. The firm earned $1.44 billion during the quarter, compared to the consensus estimate of $1.42 billion. S&P Global had a return on equity of 378.19% and a net margin of 32.24%. The business’s revenue for the quarter was up 8.8% on a year-over-year basis. During the same period in the prior year, the business earned $1.19 EPS. Equities analysts expect that S&P Global will post $5.27 EPS for the current fiscal year.
The business also recently disclosed 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 dividend yield of 1.20%. The ex-dividend date is Wednesday, November 23rd. S&P Global’s payout ratio is 21.15%.
In related news, SVP Nancy Luquette sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 13th. The stock was sold at an average price of $123.08, for a total value of $61,540.00. Following the transaction, the senior vice president now directly owns 133 shares of the company’s stock, valued at approximately $16,369.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.60% of the stock is owned by corporate insiders.
A number of hedge funds have recently added to or reduced their stakes in the stock. Global X Management Co. LLC raised its stake in S&P Global by 219.1% in the third quarter. Global X Management Co. LLC now owns 986 shares of the company’s stock worth $125,000 after buying an additional 677 shares during the period. Jacobus Wealth Management Inc. acquired a new stake in S&P Global during the second quarter worth about $107,000. Robecosam AG acquired a new stake in S&P Global during the third quarter worth about $125,000. Fuller & Thaler Asset Management Inc. acquired a new stake in S&P Global during the second quarter worth about $113,000. Finally, IMS Capital Management acquired a new stake in S&P Global during the third quarter worth about $139,000. 86.21% of the stock is currently owned by hedge funds and other institutional investors.
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.