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%.”
Several other brokerages also recently issued reports on SPGI. Barclays PLC raised S&P Global from an equal weight rating to an overweight rating and increased their price objective for the stock from $140.00 to $145.00 in a research note on Wednesday, September 21st. Cantor Fitzgerald set a $117.00 price objective on S&P Global and gave the stock a buy rating in a research note on Thursday, July 28th. Macquarie started 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 increased their price objective 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. Finally, Morgan Stanley reissued an equal weight rating and issued a $120.00 price objective on shares of S&P Global in a research note on Tuesday, July 19th. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of Buy and a consensus target price of $131.43.
S&P Global (NYSE:SPGI) opened at 124.96 on Wednesday. The firm has a 50-day moving average price of $123.53 and a 200-day moving average price of $111.84. The stock has a market cap of $32.99 billion, a PE ratio of 28.67 and a beta of 1.28. S&P Global has a 12-month low of $78.55 and a 12-month high of $128.40.
S&P Global (NYSE:SPGI) last released its quarterly earnings results on Thursday, July 28th. The company reported $1.44 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.34 by $0.10. S&P Global had a return on equity of 320.10% and a net margin of 21.32%. The business earned $1.48 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the company posted $1.21 EPS. S&P Global’s revenue for the quarter was up 10.4% on a year-over-year basis. Analysts forecast that S&P Global will post $5.19 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Friday, August 26th were paid a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date of this dividend was Wednesday, August 24th. S&P Global’s dividend payout ratio (DPR) is presently 32.95%.
In other news, insider Finbarr J. Oneill sold 36,674 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $6,141,888.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, SVP Nancy Luquette sold 500 shares of the firm’s stock in a transaction dated Tuesday, September 13th. The stock was 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 disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.
Several large investors have recently bought and sold shares of SPGI. Bank of Stockton purchased a new stake in S&P Global during the second quarter worth $373,000. Packer & Co Ltd bought a new position in shares of S&P Global during the second quarter worth approximately $33,904,000. Chevy Chase Trust Holdings Inc. bought a new position in shares of S&P Global during the second quarter worth approximately $24,263,000. Richard Bernstein Advisors LLC bought a new position in shares of S&P Global during the second quarter worth approximately $2,578,000. Finally, Exxonmobil Investment Management Inc. TX bought a new position in shares of S&P Global during the second quarter worth approximately $7,346,000. 84.81% of the stock is owned by 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.
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