S&P Global (NYSE:SPGI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Friday.
According to Zacks, “S&P Global’s strategic portfolio restructuring initiatives and focus on core business are likely to drive growth. This apart, opportune acquisitions and positive industry trends augur well for future. The acquisition of SNL Financial is likely to complement the S&P Capital IQ and Platts businesses, enabling them to avail cost cuts and generate revenue synergies. The company also outperformed the industry in the last three months. However, various lawsuits have hampered the credibility of the company and adversely impacted its financial results. S&P Global’s performance is likely to be hurt by lower volume of debt securities issued in the capital markets. Financial distress could either dent investor’s demand for debt securities or make issuers reluctant to issue such securities. Stiff competition could further hurt S&P Global’s market share, and in turn weigh upon the top line and strain margins.”
A number of other research analysts have also recently issued reports on the stock. Nomura assumed coverage on shares of S&P Global in a research note on Thursday. They issued a “neutral” rating and a $160.00 target price for the company. Piper Jaffray Companies lifted their target price on shares of S&P Global from $150.00 to $168.00 and gave the company an “overweight” rating in a research note on Wednesday. Stifel Nicolaus started coverage on shares of S&P Global in a research report on Tuesday, December 19th. They issued a “hold” rating and a $186.00 price objective for the company. Barclays restated an “overweight” rating and issued a $190.00 price objective (up previously from $185.00) on shares of S&P Global in a research report on Friday, December 15th. Finally, UBS Group boosted their price objective on shares of S&P Global from $173.00 to $185.00 and gave the stock a “buy” rating in a research report on Friday, October 27th. Seven equities research analysts have rated the stock with a hold rating and seven have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $171.46.
S&P Global (NYSE:SPGI) opened at $177.64 on Friday. S&P Global has a one year low of $110.91 and a one year high of $178.50. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 4.00. The stock has a market cap of $45,300.00, a P/E ratio of 26.09, a PEG ratio of 1.94 and a beta of 1.51.
S&P Global (NYSE:SPGI) last posted its earnings results on Thursday, October 26th. The business services provider reported $1.71 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.52 by $0.19. S&P Global had a net margin of 30.15% and a return on equity of 187.30%. The company had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same quarter in the previous year, the company posted $1.43 earnings per share. S&P Global’s quarterly revenue was up 5.1% compared to the same quarter last year. sell-side analysts forecast that S&P Global will post 6.66 EPS for the current fiscal year.
In related news, CEO Douglas L. Peterson sold 4,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 15th. The shares were sold at an average price of $157.79, for a total value of $631,160.00. Following the completion of the transaction, the chief executive officer now owns 140,743 shares in the company, valued at approximately $22,207,837.97. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Courtney Geduldig sold 1,404 shares of S&P Global stock in a transaction on Thursday, November 9th. The stock was sold at an average price of $159.38, for a total transaction of $223,769.52. Following the sale, the executive vice president now directly owns 1,259 shares of the company’s stock, valued at approximately $200,659.42. The disclosure for this sale can be found here. Insiders sold a total of 7,000 shares of company stock valued at $1,104,704 in the last 90 days. 0.20% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Country Club Trust Company n.a. acquired a new stake in S&P Global during the 4th quarter worth $203,000. Milestone Resources Group Ltd acquired a new stake in S&P Global during the 4th quarter worth $66,273,000. First Citizens Bank & Trust Co. acquired a new stake in S&P Global during the 4th quarter worth $1,218,000. Chesley Taft & Associates LLC grew its holdings in S&P Global by 58.3% during the 4th quarter. Chesley Taft & Associates LLC now owns 9,285 shares of the business services provider’s stock worth $1,573,000 after acquiring an additional 3,420 shares during the period. Finally, Hutchens Investment Management Inc acquired a new stake in S&P Global during the 4th quarter worth $2,075,000. 84.95% of the stock is owned by hedge funds and other institutional investors.
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S&P Global Company Profile
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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