S&P Global Inc. (SPGI) Downgraded to Hold at Zacks Investment Research
According to Zacks, “After completing with its portfolio restructuring, McGraw-Hill Financial rechristened as S&P Global is now focusing on its core business that would help it emerge as a leader among rating providers, benchmark providers, and analytics in the global capital and commodity markets. In addition, to aid its goal of emerging as a leader in the global analytics arena, the company has also made strategic investments. All these endeavors have helped the company to continue with its positive earnings surprise streak for the fourteenth quarters in row, when it reported second-quarter 2016 results. However, McGraw-Hill’s results could be hampered by lower volume of debt securities issued in capital markets. Recently, the company released its global bond issuance forecast. The company expects global issuance in 2016 to fall 3.8% in comparison to its previous forecast of nearly 2%.”
Several other research analysts have also commented on the company. Morgan Stanley reiterated an equal weight rating and issued a $120.00 target price on shares of S&P Global in a research report on Tuesday, July 19th. Barclays PLC lifted their target price on S&P Global from $115.00 to $140.00 and gave the stock an overweight rating in a research report on Tuesday, August 23rd. Macquarie started coverage on S&P Global in a research report on Thursday, August 25th. They issued an outperform rating and a $140.00 target price for the company. Cantor Fitzgerald set a $117.00 target price on S&P Global and gave the stock a buy rating in a research report on Thursday, July 28th. Finally, Credit Suisse Group AG initiated coverage on S&P Global in a research report on Monday, July 11th. They issued an outperform rating and a $123.00 target price for the company. Two analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. S&P Global currently has a consensus rating of Buy and a consensus target price of $131.43.
Shares of S&P Global (NYSE:SPGI) traded down 0.32% on Wednesday, reaching $127.15. The company had a trading volume of 80,339 shares. S&P Global has a 12 month low of $78.55 and a 12 month high of $128.40. The company has a market capitalization of $33.57 billion, a price-to-earnings ratio of 29.17 and a beta of 1.22. The stock has a 50 day moving average price of $123.06 and a 200-day moving average price of $111.04.
S&P Global (NYSE:SPGI) last issued its quarterly earnings data on Thursday, July 28th. The company reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.10. S&P Global had a return on equity of 320.10% and a net margin of 21.32%. The firm earned $1.48 billion during the quarter, compared to analyst estimates of $1.42 billion. During the same quarter last year, the firm earned $1.21 EPS. S&P Global’s quarterly revenue was up 10.4% on a year-over-year basis. Analysts forecast that S&P Global will post $5.19 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Friday, August 26th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Wednesday, August 24th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.13%. S&P Global’s dividend payout ratio is 32.95%.
In other news, SVP Nancy Luquette sold 500 shares of S&P Global stock in a transaction on Tuesday, September 13th. The stock was sold at an average price of $123.08, for a total transaction of $61,540.00. Following the transaction, the senior vice president now owns 133 shares in the company, valued at $16,369.64. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Finbarr J. Oneill sold 36,674 shares of S&P Global stock in a transaction on Monday, August 1st. The shares were sold at an average price of $120.97, for a total value of $4,436,453.78. Following the transaction, the insider now owns 50,772 shares in the company, valued at approximately $6,141,888.84. The disclosure for this sale can be found here. Insiders own 0.60% of the company’s stock.
Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of Stockton acquired a new position in shares of S&P Global during the second quarter worth $373,000. Packer & Co Ltd purchased a new position in shares of S&P Global during the second quarter worth approximately $33,904,000. Chevy Chase Trust Holdings Inc. purchased a new position in shares of S&P Global during the second quarter worth approximately $24,263,000. Richard Bernstein Advisors LLC purchased a new position in shares of S&P Global during the second quarter worth approximately $2,578,000. Finally, Exxonmobil Investment Management Inc. TX purchased a new position in shares of S&P Global during the second quarter worth approximately $7,346,000. Institutional investors and hedge funds own 84.81% of the company’s stock.
About S&P Global
S&P Global Inc, formerly McGraw Hill Financial, Inc, is a provider of transparent and independent ratings, benchmarks, analytics and data to the capital and commodity markets across the world. The Company’s products cater to the capital markets, which includes asset managers, investment banks, commercial banks, exchanges and issuers; the commodities markets, which includes producers, traders and intermediaries within energy, metals, petrochemicals and agriculture, and the commercial markets, which includes professionals and corporate executives within automotive and marketing/research information services.
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