S&P Global Inc. (SPGI) Upgraded to “Buy” by Zacks Investment Research
S&P Global Inc. (NYSE:SPGI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Wednesday. The brokerage presently has a $140.00 target price on the stock. Zacks Investment Research’s price objective suggests a potential upside of 12.20% from the stock’s previous close.
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%.”
Other equities research analysts have also issued reports about the company. Barclays PLC upgraded S&P Global from an “equal weight” rating to an “overweight” rating and set a $145.00 price objective for the company in a research note on Wednesday. Macquarie began 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. Credit Suisse Group AG began coverage on S&P Global in a research note on Monday, July 11th. They issued an “outperform” rating and a $123.00 price objective for the company. 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. Finally, Argus upped 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. One equities research analyst has rated the stock with a hold rating and six have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and a consensus price target of $131.43.
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S&P Global (NYSE:SPGI) opened at 124.78 on Wednesday. S&P Global has a 12-month low of $78.55 and a 12-month high of $126.52. The stock has a 50 day moving average price of $122.00 and a 200-day moving average price of $109.75. The company has a market capitalization of $32.94 billion, a price-to-earnings ratio of 28.63 and a beta of 1.22.
S&P Global (NYSE:SPGI) last posted its quarterly earnings data on Thursday, July 28th. The company reported $1.44 EPS for the quarter, topping the consensus estimate of $1.34 by $0.10. The firm earned $1.48 billion during the quarter, compared to analyst estimates of $1.42 billion. S&P Global had a return on equity of 320.10% and a net margin of 21.32%. S&P Global’s revenue was up 10.4% on a year-over-year basis. During the same period in the prior year, the business posted $1.21 EPS. Equities analysts predict that S&P Global will post $5.19 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Friday, August 26th were issued a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.15%. The ex-dividend date was Wednesday, August 24th. S&P Global’s dividend payout ratio is currently 32.95%.
In other S&P Global news, SVP Nancy Luquette sold 500 shares of the stock in a transaction dated 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 transaction, the senior vice president now owns 133 shares of the company’s stock, valued at approximately $16,369.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Finbarr J. Oneill sold 36,674 shares of the stock in a transaction dated Monday, August 1st. The shares were sold at an average price of $120.97, for a total transaction of $4,436,453.78. Following the transaction, the insider now directly owns 50,772 shares of the company’s stock, valued at approximately $6,141,888.84. The disclosure for this sale can be found here. Company insiders own 0.60% of the company’s stock.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Jacobus Wealth Management Inc. acquired a new position in shares of S&P Global during the second quarter worth approximately $107,000. Fuller & Thaler Asset Management Inc. acquired a new position in shares of S&P Global during the second quarter worth approximately $113,000. FUKOKU MUTUAL LIFE INSURANCE Co acquired a new position in shares of S&P Global during the second quarter worth approximately $129,000. West Oak Capital LLC acquired a new position in shares of S&P Global during the second quarter worth approximately $139,000. Finally, Quadrant Capital Group LLC acquired a new position in shares of S&P Global during the second quarter worth approximately $146,000. 84.81% of the stock is 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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