S&P Global Inc. (NYSE:SPGI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued on Wednesday. The brokerage currently has a $139.00 target price on the stock. Zacks Investment Research’s target price would suggest a potential upside of 11.16% from the company’s current price.
According to Zacks, “After completing with its portfolio restructuring, McGraw-Hill Financial rechristened as 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. In addition, to aid its goal of emerging as a leader in the global analytics arena, the company has also made strategic investments. All these endeavors have helped the company to continue with its positive earnings surprise streak for the fourteenth quarters in row, when it reported second-quarter 2016 results. However, McGraw-Hill’s results could be hampered by lower volume of debt securities issued in capital markets. Recently, the company released its global bond issuance forecast. The company expects global issuance in 2016 to fall 3.8% in comparison to its previous forecast of nearly 2%.”
SPGI has been the subject of a number of other research reports. Credit Suisse Group AG assumed coverage on shares of S&P Global in a report on Monday, July 11th. They issued an “outperform” rating and a $123.00 price target for the company. Macquarie assumed coverage on shares of S&P Global in a research note on Thursday, August 25th. They issued an “outperform” rating and a $140.00 price objective on the stock. Barclays PLC reissued an “overweight” rating and issued a $115.00 price objective on shares of S&P Global in a research note on Tuesday, June 28th. Argus increased their price objective on shares of S&P Global from $120.00 to $135.00 and gave the company a “buy” rating in a research note on Wednesday, August 17th. Finally, Cantor Fitzgerald set a $117.00 price objective on shares of S&P Global and gave the company a “buy” rating in a research note on Thursday, July 28th. One analyst has rated the stock with a hold rating and six have issued a buy rating to the company’s stock. S&P Global presently has a consensus rating of “Buy” and an average price target of $131.29.
S&P Global (NYSE:SPGI) opened at 125.04 on Wednesday. The firm’s 50-day moving average is $123.91 and its 200-day moving average is $112.21. The stock has a market capitalization of $33.01 billion, a P/E ratio of 28.69 and a beta of 1.28. 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 results on Thursday, July 28th. The company reported $1.44 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.34 by $0.10. The business earned $1.48 billion during the quarter, compared to the consensus estimate of $1.42 billion. S&P Global had a net margin of 21.32% and a return on equity of 320.10%. The business’s revenue was up 10.4% compared to the same quarter last year. During the same quarter last year, the firm posted $1.21 EPS. On average, equities research analysts predict that S&P Global will post $5.20 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Friday, August 26th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Wednesday, August 24th. This represents a $1.44 annualized dividend and a dividend yield of 1.15%. S&P Global’s dividend payout ratio is currently 32.95%.
In related news, SVP Nancy Luquette sold 500 shares of the firm’s 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 sale, 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 filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Finbarr J. Oneill sold 36,674 shares of the firm’s stock in a transaction that occurred on Monday, August 1st. The stock was sold at an average price of $120.97, for a total transaction of $4,436,453.78. Following the completion of the sale, the insider now directly owns 50,772 shares in the company, valued at $6,141,888.84. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the company. Jacobus Wealth Management Inc. bought a new stake in S&P Global during the second quarter valued at about $107,000. Fuller & Thaler Asset Management Inc. bought a new stake in S&P Global during the second quarter valued at about $113,000. FUKOKU MUTUAL LIFE INSURANCE Co bought a new stake in S&P Global during the second quarter valued at about $129,000. West Oak Capital LLC bought a new stake in S&P Global during the second quarter valued at about $139,000. Finally, Quadrant Capital Group LLC bought a new stake in S&P Global during the second quarter valued at about $146,000. 84.81% of the stock is currently owned by institutional investors and hedge funds.
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.
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