S&P Global (NYSE:SPGI) PT Raised to $540.00

S&P Global (NYSE:SPGI) had its price objective increased by Oppenheimer from $486.00 to $540.00 in a research report issued on Wednesday, Benzinga reports. The firm currently has an “outperform” rating on the business services provider’s stock. Oppenheimer’s price objective points to a potential upside of 10.54% from the company’s previous close.

A number of other brokerages have also recently issued reports on SPGI. Erste Group Bank reiterated a “hold” rating on shares of S&P Global in a research note on Wednesday, April 3rd. Morgan Stanley upped their price target on shares of S&P Global from $500.00 to $510.00 and gave the stock an “overweight” rating in a research note on Friday, July 5th. Royal Bank of Canada reissued an “outperform” rating and set a $500.00 price objective on shares of S&P Global in a research report on Friday, June 21st. Stifel Nicolaus lifted their target price on shares of S&P Global from $442.00 to $446.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Finally, Barclays upped their target price on shares of S&P Global from $500.00 to $520.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Two equities research analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $499.90.

S&P Global Stock Down 0.3 %

Shares of S&P Global stock opened at $488.51 on Wednesday. S&P Global has a 1 year low of $340.49 and a 1 year high of $502.95. The firm has a market cap of $152.85 billion, a price-to-earnings ratio of 54.77, a PEG ratio of 2.77 and a beta of 1.16. The company has a 50-day moving average of $452.72 and a 200 day moving average of $437.76. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.92 and a quick ratio of 0.92.

S&P Global (NYSE:SPGI) last announced its earnings results on Tuesday, July 30th. The business services provider reported $4.04 earnings per share for the quarter, beating analysts’ consensus estimates of $3.67 by $0.37. S&P Global had a net margin of 22.01% and a return on equity of 12.20%. The business had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.42 billion. During the same quarter last year, the firm earned $3.12 earnings per share. The business’s revenue for the quarter was up 14.4% on a year-over-year basis. As a group, sell-side analysts anticipate that S&P Global will post 14.3 earnings per share for the current fiscal year.

Institutional Trading of S&P Global

A number of hedge funds have recently bought and sold shares of SPGI. Norges Bank purchased a new stake in shares of S&P Global during the 4th quarter valued at about $1,652,862,000. Swedbank AB bought a new position in S&P Global in the first quarter worth approximately $351,774,000. Capital International Investors boosted its stake in shares of S&P Global by 12.6% during the 4th quarter. Capital International Investors now owns 5,502,039 shares of the business services provider’s stock worth $2,423,762,000 after acquiring an additional 616,732 shares during the last quarter. Assenagon Asset Management S.A. grew its position in shares of S&P Global by 352.2% during the 2nd quarter. Assenagon Asset Management S.A. now owns 463,383 shares of the business services provider’s stock valued at $206,669,000 after acquiring an additional 360,909 shares during the period. Finally, Third Point LLC purchased a new stake in shares of S&P Global in the 1st quarter worth $142,526,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

S&P Global Company Profile

S&P Global Inc, together with its subsidiaries, provides credit ratings, benchmarks, analytics, and workflow solutions in the global capital, commodity, and automotive markets. It operates through S&P Global Market Intelligence, S&P Global Ratings, S&P Global Commodity Insights, S&P Global Mobility, S&P Dow Jones Indices, and S&P Global Engineering Solutions segments.