According to Zacks, “S&P Global’s first-quarter 2019 adjusted earnings came in line with the Zacks Consensus Estimate and increased year over year. Revenues lagged the consensus mark but improved marginally year over year. The company remains well poised to gain from growing demand for business information services. Acquisitions have helped it continuously innovate, increase differentiated content and develop new products. Effective management execution has resulted in significant amount of cash flow enabling it to continue with its growth initiatives and shareholder-friendly activities. The stock has outperformed the industry year to date. On the flip side, the company is remains vulnerable to proceedings, investigations and inquiries with respect to the ratings provided, leading to legal charges, damages or fines. Decline in global debt issuance has been weighing on the company’s top line. “
A number of other brokerages also recently issued reports on SPGI. Morgan Stanley set a $226.00 price objective on shares of S&P Global and gave the stock a hold rating in a research note on Friday. Raymond James raised their price target on shares of S&P Global from $209.00 to $226.00 and gave the company an outperform rating in a research note on Tuesday, April 9th. UBS Group raised their price target on shares of S&P Global from $205.00 to $226.00 and gave the company a neutral rating in a research note on Tuesday, April 9th. Piper Jaffray Companies raised their price target on shares of S&P Global from $220.00 to $242.00 and gave the company an overweight rating in a research note on Friday, April 5th. Finally, ValuEngine upgraded shares of S&P Global from a hold rating to a buy rating in a research note on Thursday, January 24th. Six equities research analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. S&P Global presently has a consensus rating of Buy and a consensus target price of $215.18.
Shares of S&P Global stock opened at $216.80 on Monday. The stock has a market cap of $53.62 billion, a price-to-earnings ratio of 25.51, a PEG ratio of 1.37 and a beta of 1.16. The company has a debt-to-equity ratio of 11.03, a quick ratio of 1.37 and a current ratio of 1.20. S&P Global has a 12-month low of $156.68 and a 12-month high of $222.00.
S&P Global (NYSE:SPGI) last announced its quarterly earnings data on Thursday, May 2nd. The business services provider reported $2.11 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.12 by ($0.01). The firm had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.60 billion. S&P Global had a return on equity of 325.28% and a net margin of 29.99%. The company’s quarterly revenue was up .3% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.00 earnings per share. On average, analysts predict that S&P Global will post 9.03 EPS for the current fiscal year.
In related news, insider John L. Berisford sold 9,669 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $202.22, for a total value of $1,955,265.18. Following the completion of the transaction, the insider now owns 26,344 shares in the company, valued at approximately $5,327,283.68. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO Ewout L. Steenbergen sold 4,000 shares of the firm’s stock in a transaction that occurred on Monday, February 11th. The shares were sold at an average price of $194.20, for a total transaction of $776,800.00. Following the completion of the transaction, the chief financial officer now owns 5,239 shares of the company’s stock, valued at approximately $1,017,413.80. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 19,041 shares of company stock worth $3,805,815. 0.20% of the stock is currently owned by corporate insiders.
Hedge funds and other institutional investors have recently modified their holdings of the stock. CAPROCK Group Inc. raised its holdings in S&P Global by 17.1% in the 1st quarter. CAPROCK Group Inc. now owns 1,620 shares of the business services provider’s stock valued at $341,000 after buying an additional 236 shares during the last quarter. Nordea Investment Management AB raised its holdings in S&P Global by 3.3% during the 4th quarter. Nordea Investment Management AB now owns 409,183 shares of the business services provider’s stock worth $69,538,000 after purchasing an additional 12,882 shares during the last quarter. Legal & General Group Plc raised its holdings in S&P Global by 9.1% during the 4th quarter. Legal & General Group Plc now owns 1,291,174 shares of the business services provider’s stock worth $219,379,000 after purchasing an additional 107,927 shares during the last quarter. Quadrant Capital Group LLC raised its holdings in S&P Global by 11.1% during the 1st quarter. Quadrant Capital Group LLC now owns 1,611 shares of the business services provider’s stock worth $327,000 after purchasing an additional 161 shares during the last quarter. Finally, Manning & Napier Group LLC bought a new position in S&P Global during the 1st quarter worth approximately $103,755,000. Institutional investors and hedge funds own 83.96% of the company’s stock.
About S&P Global
S&P Global Inc, together with its subsidiaries, provides ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. The company operates through four segments: S&P Global Ratings (Ratings), S&P Global Market Intelligence (Market Intelligence), S&P Global Platts (Platts), and S&P Dow Jones Indices (Indices).
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