Oppenheimer Cuts S&P Global (NYSE:SPGI) Price Target to $580.00

S&P Global (NYSE:SPGI) had its target price lowered by Oppenheimer from $590.00 to $580.00 in a research report released on Friday morning,Benzinga reports. The brokerage currently has an outperform rating on the business services provider’s stock.

Other equities analysts have also recently issued reports about the stock. Stifel Nicolaus lifted their price objective on shares of S&P Global from $540.00 to $560.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Raymond James lowered S&P Global from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Wells Fargo & Company increased their price target on S&P Global from $575.00 to $620.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. reduced their target price on shares of S&P Global from $600.00 to $585.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Finally, Citigroup initiated coverage on shares of S&P Global in a research note on Friday, December 20th. They issued a “buy” rating and a $600.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $574.43.

S&P Global Stock Performance

NYSE SPGI opened at $499.57 on Friday. S&P Global has a twelve month low of $407.69 and a twelve month high of $533.29. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.33. The firm has a market cap of $155.02 billion, a price-to-earnings ratio of 44.09, a price-to-earnings-growth ratio of 2.53 and a beta of 1.20. The business has a 50-day moving average price of $503.92 and a 200-day moving average price of $497.76.

S&P Global (NYSE:SPGI) last issued its quarterly earnings data on Thursday, October 24th. The business services provider reported $3.89 earnings per share for the quarter, beating analysts’ consensus estimates of $3.64 by $0.25. The firm had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.43 billion. S&P Global had a return on equity of 13.72% and a net margin of 25.80%. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter last year, the business posted $3.21 earnings per share. As a group, equities research analysts predict that S&P Global will post 15.24 EPS for the current fiscal year.

Institutional Trading of S&P Global

A number of institutional investors have recently bought and sold shares of the stock. First National Corp MA ADV grew its stake in S&P Global by 0.9% during the 3rd quarter. First National Corp MA ADV now owns 2,344 shares of the business services provider’s stock valued at $1,211,000 after purchasing an additional 20 shares during the last quarter. Kathleen S. Wright Associates Inc. boosted its holdings in shares of S&P Global by 25.0% in the 3rd quarter. Kathleen S. Wright Associates Inc. now owns 100 shares of the business services provider’s stock valued at $51,000 after acquiring an additional 20 shares during the last quarter. Trust Point Inc. raised its holdings in shares of S&P Global by 1.4% during the third quarter. Trust Point Inc. now owns 1,404 shares of the business services provider’s stock worth $725,000 after purchasing an additional 20 shares during the last quarter. Headinvest LLC boosted its holdings in S&P Global by 2.0% in the third quarter. Headinvest LLC now owns 997 shares of the business services provider’s stock valued at $515,000 after purchasing an additional 20 shares during the last quarter. Finally, EWA LLC grew its position in S&P Global by 4.2% during the 3rd quarter. EWA LLC now owns 498 shares of the business services provider’s stock worth $254,000 after purchasing an additional 20 shares during the period. 87.17% of the stock is currently owned by institutional investors and hedge funds.

About S&P Global

S&P Global, Inc engages in the provision of transparent and independent ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. It operates through the following segments: Market Intelligence, Ratings, Commodity Insights, Mobility, Indices, and Engineering Solutions.