S&P Global Inc. (NYSE:SPGI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a report released on Tuesday.
According to Zacks, “S&P Global’s strategic portfolio restructuring initiatives and focus on core business are likely to drive future growth. The company’s Standard & Poor's Ratings Services appears to be a long-term growth driver as corporate and U.S. structured finance issuance is picking up momentum with increasing capital infusion in the economy as well as positive growth in M&A activity. This apart, strategic acquisitions and positive industry trends augur well for long-term growth. The company outperformed the industry year to date. However, its performance is likely to be hurt by lower volume of debt securities issued in the capital markets. Financial distress could either dent investor’s demand for debt securities or make issuers reluctant to issue such securities. Various lawsuits have also hampered the credibility of the company and adversely impacted its financial results.”
Other analysts also recently issued research reports about the stock. BMO Capital Markets lifted their price target on shares of S&P Global from $161.00 to $164.00 and gave the company an “outperform” rating in a research report on Friday, July 28th. Barclays PLC lifted their price target on shares of S&P Global from $150.00 to $155.00 and gave the company an “overweight” rating in a research report on Wednesday, June 28th. Argus reissued a “buy” rating and issued a $158.00 price target (up previously from $150.00) on shares of S&P Global in a research report on Monday, May 29th. Morgan Stanley reissued an “equal weight” rating and issued a $146.00 price target (up previously from $145.00) on shares of S&P Global in a research report on Friday, July 14th. Finally, UBS AG lifted their price target on shares of S&P Global from $154.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, July 28th. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. S&P Global currently has an average rating of “Buy” and an average target price of $155.50.
Shares of S&P Global (SPGI) traded up 0.26% on Tuesday, reaching $153.16. 289,841 shares of the company traded hands. The firm has a 50-day moving average price of $151.91 and a 200 day moving average price of $141.48. S&P Global has a one year low of $107.21 and a one year high of $158.35. The company has a market capitalization of $39.36 billion, a PE ratio of 17.84 and a beta of 1.51.
S&P Global (NYSE:SPGI) last released its quarterly earnings data on Thursday, July 27th. The business services provider reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.15. The company had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.46 billion. S&P Global had a net margin of 38.78% and a return on equity of 202.37%. S&P Global’s revenue for the quarter was up 1.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.44 EPS. Equities analysts forecast that S&P Global will post $6.34 EPS for the current fiscal year.
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In other S&P Global news, SVP Nancy Luquette sold 860 shares of S&P Global stock in a transaction on Wednesday, August 23rd. The shares were sold at an average price of $151.50, for a total transaction of $130,290.00. Following the transaction, the senior vice president now directly owns 106 shares of the company’s stock, valued at approximately $16,059. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.20% of the stock is owned by insiders.
Several large investors have recently modified their holdings of SPGI. BlackRock Inc. boosted its holdings in shares of S&P Global by 1,866.9% in the 1st quarter. BlackRock Inc. now owns 15,452,706 shares of the business services provider’s stock worth $2,020,285,000 after buying an additional 14,667,076 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in shares of S&P Global by 4,882.5% in the 2nd quarter. Janus Henderson Group PLC now owns 1,745,016 shares of the business services provider’s stock worth $254,755,000 after buying an additional 1,709,993 shares during the last quarter. Marshall Wace North America L.P. purchased a new position in shares of S&P Global in the 1st quarter worth about $170,025,000. AJO LP purchased a new position in shares of S&P Global in the 2nd quarter worth about $130,724,000. Finally, Vanguard Group Inc. boosted its holdings in shares of S&P Global by 4.0% in the 1st quarter. Vanguard Group Inc. now owns 19,395,347 shares of the business services provider’s stock worth $2,535,747,000 after buying an additional 740,631 shares during the last quarter. 85.39% of the stock is currently owned by institutional investors.
S&P Global Company Profile
S&P Global Inc, formerly McGraw Hill Financial Inc, is a provider of ratings, benchmarks, analytics and data to the capital and commodity markets around the world. The Company operates through three segments: Ratings, which provides credit ratings, research and analytics to investors, issuers and other market participants; Market and Commodities Intelligence, which offers multi-asset-class data, research and analytical capabilities that integrate cross-asset analytics and desktop services, and deliver their customers in the commodity and energy markets access to information, data, analytic services and pricing and benchmarks, and S&P Dow Jones Indices (Indices), which is an index provider that maintains a range of valuation and index benchmarks for investment advisors, wealth managers and institutional investors.
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