S&P Global Inc. (NYSE:SPGI) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research note issued on Tuesday. The brokerage presently has a $178.00 target price on the business services provider’s stock. Zacks Investment Research‘s price objective suggests a potential upside of 11.83% from the company’s previous close.
According to Zacks, “S&P Global’s strategic portfolio restructuring initiatives and focus on core business are likely to drive growth. The acquisition of SNL Financial is likely to complement the S&P Capital IQ and Platts businesses. Moreover, it will enable global expansion on a greater scale especially within the banking and insurance sectors, while media and real estate areas are likely to emerge as new opportunities. The acquisition is expected to be accretive to GAAP earnings in 2018. The company’s Standard & Poor's Ratings Services appears to be a long-term growth driver as corporate and U.S. structured finance issuance is picking up momentum with increasing capital infusion in the economy as well as positive growth in M&A activity. The company also outperformed the industry year to date. However, S&P Global’s performance is likely to be hurt by lower volume of debt securities issued in the capital markets.”
Other equities analysts also recently issued research reports about the company. UBS AG raised their target price on S&P Global from $154.00 to $175.00 and gave the company a “buy” rating in a research report on Friday, July 28th. Morgan Stanley raised their target price on S&P Global from $154.00 to $158.00 and gave the company an “equal weight” rating in a research report on Friday. BMO Capital Markets raised their target price on S&P Global from $152.00 to $161.00 and gave the company a “no rating at time” rating in a research report on Friday, July 14th. Finally, Barclays PLC raised their target price on S&P Global from $160.00 to $170.00 and gave the company an “overweight” rating in a research report on Friday, September 15th. One investment analyst has rated the stock with a hold rating and nine have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $159.00.
S&P Global (NYSE:SPGI) last released its earnings results on Thursday, July 27th. The business services provider reported $1.72 earnings per share for the quarter, beating the consensus estimate of $1.57 by $0.15. The business had revenue of $1.51 billion for the quarter, compared to the consensus estimate of $1.46 billion. S&P Global had a return on equity of 202.37% and a net margin of 38.78%. The business’s quarterly revenue was up 1.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.44 earnings per share. Equities research analysts expect that S&P Global will post $6.35 earnings per share for the current fiscal year.
In other S&P Global news, SVP Nancy Luquette sold 860 shares of S&P Global 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 sale, the senior vice president now owns 106 shares in the company, valued at $16,059. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.20% of the stock is owned by insiders.
Large investors have recently bought and sold shares of the business. Koch Industries Inc. purchased a new stake in S&P Global in the first quarter valued at $365,000. Schwab Charles Investment Management Inc. raised its position in S&P Global by 5.0% in the first quarter. Schwab Charles Investment Management Inc. now owns 815,937 shares of the business services provider’s stock valued at $106,676,000 after purchasing an additional 38,665 shares during the period. Davis Selected Advisers raised its position in S&P Global by 2.7% in the second quarter. Davis Selected Advisers now owns 181,288 shares of the business services provider’s stock valued at $26,466,000 after purchasing an additional 4,810 shares during the period. Israel Discount Bank of New York purchased a new stake in S&P Global in the first quarter valued at $222,000. Finally, Bridgewater Associates LP purchased a new stake in S&P Global in the first quarter valued at $3,860,000. Institutional investors own 85.34% of the company’s stock.
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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