BMO Capital Markets Downgrades S&P Global Inc. (SPGI) to Market Perform
BMO Capital Markets lowered shares of S&P Global Inc. (NYSE:SPGI) from an outperform rating to a market perform rating in a research note released on Friday morning, MarketBeat reports. They currently have $166.00 target price on the business services provider’s stock.
Several other research firms have also recently weighed in on SPGI. Morgan Stanley increased their price objective on S&P Global from $154.00 to $158.00 and gave the stock an equal weight rating in a research report on Friday, October 6th. Zacks Investment Research cut S&P Global from a buy rating to a hold rating in a research report on Tuesday, September 12th. Goldman Sachs Group, Inc. (The) reiterated a neutral rating and set a $176.00 price objective on shares of S&P Global in a research report on Wednesday, October 18th. Barclays PLC increased their price objective on S&P Global from $160.00 to $170.00 and gave the stock an overweight rating in a research report on Friday, September 15th. Finally, UBS AG increased their price objective on S&P Global from $154.00 to $175.00 and gave the stock a buy rating in a research report on Friday, July 28th. Four equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. S&P Global has a consensus rating of Buy and a consensus target price of $164.75.
Shares of S&P Global (NYSE SPGI) opened at 156.25 on Friday. The firm has a 50-day moving average of $158.10 and a 200 day moving average of $148.75. S&P Global has a one year low of $107.21 and a one year high of $166.17. The company has a market cap of $40.16 billion, a price-to-earnings ratio of 18.20 and a beta of 1.50.
S&P Global (NYSE:SPGI) last posted its quarterly earnings data on Thursday, October 26th. The business services provider reported $1.71 earnings per share for the quarter, topping the consensus estimate of $1.52 by $0.19. The firm had revenue of $1.51 billion for the quarter, compared to analysts’ expectations of $1.45 billion. S&P Global had a return on equity of 187.30% and a net margin of 30.15%. The company’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter last year, the business earned $1.43 EPS. Equities research analysts anticipate that S&P Global will post $6.51 EPS for the current year.
In related news, SVP Nancy Luquette sold 860 shares of the firm’s stock in a transaction on Wednesday, August 23rd. The stock was sold at an average price of $151.50, for a total value of $130,290.00. Following the transaction, the senior vice president now owns 106 shares in the company, valued at $16,059. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.20% of the stock is currently owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the business. Penserra Capital Management LLC bought a new position in S&P Global in the second quarter valued at about $106,000. American Beacon Advisors Inc. bought a new position in S&P Global in the first quarter valued at about $103,000. Edmond DE Rothschild Holding S.A. grew its position in S&P Global by 1,214.1% in the first quarter. Edmond DE Rothschild Holding S.A. now owns 1,025 shares of the business services provider’s stock valued at $134,000 after acquiring an additional 947 shares during the last quarter. Parallel Advisors LLC grew its position in S&P Global by 8.9% in the second quarter. Parallel Advisors LLC now owns 1,057 shares of the business services provider’s stock valued at $162,000 after acquiring an additional 86 shares during the last quarter. Finally, GQG Partners LLC bought a new position in S&P Global in the second quarter valued at about $160,000. Hedge funds and other institutional investors own 85.47% of the company’s stock.
About S&P Global
S&P Global Inc, formerly McGraw Hill Financial Inc, is a provider of ratings, benchmarks, analytics and data to the capital and commodity markets around the world. The Company operates through three segments: Ratings, which provides credit ratings, research and analytics to investors, issuers and other market participants; Market and Commodities Intelligence, which offers multi-asset-class data, research and analytical capabilities that integrate cross-asset analytics and desktop services, and deliver their customers in the commodity and energy markets access to information, data, analytic services and pricing and benchmarks, and S&P Dow Jones Indices (Indices), which is an index provider that maintains a range of valuation and index benchmarks for investment advisors, wealth managers and institutional investors.
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