S&P Global (NYSE:SPGI) Price Target Raised to $515.00

S&P Global (NYSE:SPGI) had its price target lifted by Morgan Stanley from $477.00 to $515.00 in a report issued on Wednesday, MarketBeat.com reports. They currently have an overweight rating on the business services provider’s stock.

Several other equities analysts have also recently commented on the stock. Mizuho lowered their target price on shares of S&P Global from $554.00 to $531.00 and set an “outperform” rating on the stock in a research note on Monday, October 5th. Royal Bank Of Canada restated an “outperform” rating and set a $510.00 price target on shares of S&P Global in a research report on Wednesday, August 26th. Barclays reduced their price target on shares of S&P Global from $555.00 to $553.00 and set an “overweight” rating for the company in a research note on Wednesday, July 29th. Citigroup upped their price target on shares of S&P Global from $454.00 to $500.00 and gave the stock a “buy” rating in a research note on Wednesday, July 29th. Finally, Weiss Ratings reiterated a “hold (c)” rating on shares of S&P Global in a report on Friday, October 2nd. Eighteen analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $522.24.

S&P Global Trading Up 1.3%

NYSE:SPGI opened at $466.46 on Wednesday. S&P Global has a 1 year low of $381.61 and a 1 year high of $552.25. The stock has a market cap of $135.23 billion, a price-to-earnings ratio of 24.66, a PEG ratio of 2.18 and a beta of 1.09. The business has a fifty day moving average of $421.62 and a 200-day moving average of $431.64. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.95 and a current ratio of 0.74.

S&P Global (NYSE:SPGI) last issued its quarterly earnings results on Tuesday, October 27th. The business services provider reported $4.58 EPS for the quarter, beating analysts’ consensus estimates of $4.43 by $0.15. S&P Global had a return on equity of 19.46% and a net margin of 32.21%. The company had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.64 billion. During the same period last year, the company earned $4.73 earnings per share. The company’s quarterly revenue was up 6.8% compared to the same quarter last year. Equities analysts predict that S&P Global will post 17.87 earnings per share for the current year.

S&P Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 10th. Stockholders of record on Wednesday, November 25th will be given a dividend of $0.97 per share. This represents a $3.88 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Wednesday, November 25th. S&P Global’s dividend payout ratio is 23.14%.

Hedge Funds Weigh In On S&P Global

Hedge funds have recently modified their holdings of the stock. Richardson Financial Services Inc. raised its stake in shares of S&P Global by 225.8% during the 3rd quarter. Richardson Financial Services Inc. now owns 101 shares of the business services provider’s stock worth $40,000 after purchasing an additional 70 shares in the last quarter. Ascent Group LLC lifted its holdings in shares of S&P Global by 35.8% during the 3rd quarter. Ascent Group LLC now owns 5,506 shares of the business services provider’s stock valued at $2,172,000 after buying an additional 1,453 shares during the last quarter. 3Chopt Investment Partners LLC lifted its holdings in shares of S&P Global by 8.6% during the 3rd quarter. 3Chopt Investment Partners LLC now owns 884 shares of the business services provider’s stock valued at $349,000 after buying an additional 70 shares during the last quarter. Compass Financial Management LLC grew its stake in shares of S&P Global by 31.5% in the 3rd quarter. Compass Financial Management LLC now owns 192 shares of the business services provider’s stock valued at $76,000 after buying an additional 46 shares in the last quarter. Finally, American Assets Inc. bought a new stake in shares of S&P Global in the 3rd quarter valued at approximately $473,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

About S&P Global

S&P Global (NYSE: SPGI) is a global provider of financial information, analytics, benchmarks and credit ratings. Its services are used by investors, corporations, governments and other organizations to evaluate risk, assess markets, support investment decisions and manage business operations.

The company operates through businesses including S&P Global Ratings, which provides credit ratings and related research; S&P Global Market Intelligence, which delivers data, research and analytics on companies, markets and industries; and S&P Global Commodity Insights, which supplies information and analysis for energy and commodity markets.