S&P Global Inc. (SPGI) Lifted to “Overweight” at Barclays PLC
S&P Global Inc. (NYSE:SPGI) was upgraded by stock analysts at Barclays PLC from an “equal weight” rating to an “overweight” rating in a note issued to investors on Wednesday. The brokerage currently has a $145.00 price objective on the stock. Barclays PLC’s price objective would suggest a potential upside of 16.20% from the company’s current price.
SPGI has been the subject of a number of other research reports. Cantor Fitzgerald restated a “buy” rating on shares of S&P Global in a report on Friday, August 19th. Zacks Investment Research upgraded shares of S&P Global from a “hold” rating to a “buy” rating and set a $139.00 price target for the company in a report on Tuesday, September 13th. Morgan Stanley reiterated an “equal weight” rating and set a $120.00 price target on shares of S&P Global in a report on Tuesday, July 19th. Argus boosted their price target 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. Finally, Credit Suisse Group AG assumed coverage on shares of S&P Global in a report on Monday, July 11th. They set an “outperform” rating and a $123.00 price target for the company. One equities research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. S&P Global currently has a consensus rating of “Buy” and an average price target of $131.43.
Shares of S&P Global (NYSE:SPGI) traded up 0.85% on Wednesday, hitting $125.84. 361,319 shares of the company traded hands. S&P Global has a 12 month low of $78.55 and a 12 month high of $127.00. The stock’s 50-day moving average price is $122.00 and its 200-day moving average price is $109.75. The company has a market capitalization of $33.22 billion, a PE ratio of 28.87 and a beta of 1.22.
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S&P Global (NYSE:SPGI) last announced its quarterly earnings data on Thursday, July 28th. The company reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.10. The firm earned $1.48 billion during the quarter, compared to analysts’ expectations 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 quarterly revenue was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.21 earnings per share. On average, equities analysts predict that S&P Global will post $5.19 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Friday, August 26th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend was Wednesday, August 24th. S&P Global’s payout ratio is 32.95%.
In related news, insider Finbarr J. Oneill sold 36,674 shares of the company’s stock in a transaction on Monday, August 1st. The shares were sold at an average price of $120.97, for a total value of $4,436,453.78. Following the completion of the sale, the insider now owns 50,772 shares in the company, valued at approximately $6,141,888.84. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Nancy Luquette sold 500 shares of the company’s stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $123.08, for a total transaction of $61,540.00. Following the completion of the sale, the senior vice president now owns 133 shares of the company’s stock, valued at approximately $16,369.64. The disclosure for this sale can be found here. 0.60% of the stock is currently owned by insiders.
Hedge funds have recently added to or reduced their stakes in the stock. NN Investment Partners Holdings N.V. acquired a new stake in S&P Global during the second quarter valued at approximately $1,099,000. Excalibur Management Corp acquired a new stake in S&P Global during the second quarter valued at approximately $536,000. RidgeWorth Capital Management LLC acquired a new stake in S&P Global during the second quarter valued at approximately $5,753,000. Capital One National Association acquired a new stake in S&P Global during the second quarter valued at approximately $591,000. Finally, Security National Trust Co. acquired a new stake in S&P Global during the second quarter valued at approximately $211,000. Hedge funds and other institutional investors own 84.81% 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.
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