S&P Global (NYSE:SPGI) Given New $564.00 Price Target at BMO Capital Markets

S&P Global (NYSE:SPGI) had its target price dropped by equities researchers at BMO Capital Markets from $589.00 to $564.00 in a report issued on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the business services provider’s stock. BMO Capital Markets’ target price would indicate a potential upside of 14.62% from the company’s previous close.

SPGI has been the topic of a number of other research reports. Evercore ISI began coverage on S&P Global in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $599.00 price objective on the stock. Robert W. Baird lifted their price target on S&P Global from $536.00 to $575.00 and gave the stock an “outperform” rating in a report on Friday. Barclays upped their price objective on shares of S&P Global from $550.00 to $610.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Wells Fargo & Company lifted their target price on shares of S&P Global from $575.00 to $620.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Finally, Raymond James cut shares of S&P Global from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $565.54.

S&P Global Price Performance

Shares of SPGI traded down $1.13 during trading hours on Friday, hitting $492.08. 320,790 shares of the stock were exchanged, compared to its average volume of 1,195,405. The stock’s 50-day moving average price is $513.82 and its two-hundred day moving average price is $470.01. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market cap of $154.02 billion, a price-to-earnings ratio of 46.64, a price-to-earnings-growth ratio of 2.76 and a beta of 1.18. S&P Global has a 12-month low of $340.49 and a 12-month high of $533.29.

S&P Global (NYSE:SPGI) last issued its earnings results on Thursday, October 24th. The business services provider reported $3.89 EPS for the quarter, beating analysts’ consensus estimates of $3.64 by $0.25. The business had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.43 billion. S&P Global had a net margin of 25.03% and a return on equity of 13.03%. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same period in the prior year, the business earned $3.21 earnings per share. Research analysts expect that S&P Global will post 14.79 earnings per share for the current year.

Insiders Place Their Bets

In other news, Director Robert P. Kelly sold 7,662 shares of the stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $481.28, for a total value of $3,687,567.36. Following the sale, the director now directly owns 15,830 shares in the company, valued at approximately $7,618,662.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Robert P. Kelly sold 7,662 shares of S&P Global stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $481.28, for a total value of $3,687,567.36. Following the completion of the transaction, the director now owns 15,830 shares in the company, valued at $7,618,662.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Douglas L. Peterson sold 7,000 shares of the stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $483.60, for a total transaction of $3,385,200.00. Following the completion of the sale, the chief executive officer now directly owns 154,912 shares in the company, valued at approximately $74,915,443.20. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 17,862 shares of company stock worth $8,645,727 in the last ninety days. 0.10% of the stock is owned by corporate insiders.

Institutional Investors Weigh In On S&P Global

Several hedge funds and other institutional investors have recently made changes to their positions in SPGI. Capital International Investors lifted its holdings in S&P Global by 5.3% in the first quarter. Capital International Investors now owns 5,793,751 shares of the business services provider’s stock valued at $2,464,951,000 after acquiring an additional 291,712 shares during the period. Legal & General Group Plc lifted its stake in shares of S&P Global by 1.0% in the second quarter. Legal & General Group Plc now owns 2,826,597 shares of the business services provider’s stock valued at $1,260,665,000 after purchasing an additional 29,227 shares during the period. Ameriprise Financial Inc. boosted its holdings in S&P Global by 13.5% during the second quarter. Ameriprise Financial Inc. now owns 2,516,811 shares of the business services provider’s stock worth $1,115,697,000 after buying an additional 298,645 shares in the last quarter. Sustainable Growth Advisers LP increased its holdings in S&P Global by 2.1% in the first quarter. Sustainable Growth Advisers LP now owns 2,199,754 shares of the business services provider’s stock valued at $935,885,000 after buying an additional 46,131 shares in the last quarter. Finally, Clearbridge Investments LLC lifted its position in shares of S&P Global by 1.4% during the 2nd quarter. Clearbridge Investments LLC now owns 1,461,169 shares of the business services provider’s stock valued at $651,682,000 after acquiring an additional 20,624 shares during the period. Institutional investors and hedge funds 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.