S&P Global Inc. (SPGI) Rating Lowered to Hold at Zacks Investment Research
S&P Global Inc. (NYSE:SPGI) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research note issued on Tuesday.
According to Zacks, “S&P Global continues to impress investors with better-than-expected earnings for the 15th consecutive quarter. Further, the company surpassed the revenues estimate for the second straight quarter. Top-line growth was mainly supported by strong performances across S&P Global Ratings and S&P Global Market Intelligence. Moreover, the company raised its 2016 earnings guidance. It expects earnings for 2016 in the band of $5.15–$5.25 per share in comparison to the previous estimate of $5.05–$5.20. 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. Additionally to aid its goal of emerging as a leader in the global analytics arena, the company has also made strategic investments.”
Other equities analysts have also recently issued reports about the company. Cantor Fitzgerald reaffirmed a “buy” rating on shares of S&P Global in a research note on Friday, August 19th. Argus lifted their price target on S&P Global from $120.00 to $135.00 and gave the stock a “buy” rating in a research note on Wednesday, August 17th. Morgan Stanley reaffirmed an “equal weight” rating and issued a $120.00 price target on shares of S&P Global in a research note on Tuesday, July 19th. Macquarie initiated coverage on S&P Global in a research note on Thursday, August 25th. They issued an “outperform” rating and a $140.00 price target on the stock. Finally, Barclays PLC raised S&P Global from an “equal weight” rating to an “overweight” rating and lifted their price target for the stock from $140.00 to $145.00 in a research note on Wednesday, September 21st. Two equities research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. S&P Global has an average rating of “Buy” and a consensus target price of $131.29.
S&P Global (NYSE:SPGI) last announced its quarterly earnings results on Thursday, November 3rd. The company reported $1.43 EPS for the quarter, topping the Zacks’ consensus estimate of $1.34 by $0.09. The business had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.42 billion. S&P Global had a return on equity of 378.19% and a net margin of 32.24%. The business’s quarterly revenue was up 8.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.19 EPS.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 12th. Stockholders of record on Monday, November 28th will be given a $0.36 dividend. The ex-dividend date of this dividend is Wednesday, November 23rd. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.18%. S&P Global’s dividend payout ratio is currently 21.15%.
In related news, SVP Nancy Luquette sold 500 shares of S&P Global stock in a transaction that occurred 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 sale, the senior vice president now directly owns 133 shares in the company, valued at $16,369.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.60% of the company’s stock.
Several large investors have recently added to or reduced their stakes in the stock. Credit Suisse AG raised its stake in S&P Global by 5.2% in the third quarter. Credit Suisse AG now owns 754,855 shares of the company’s stock valued at $95,534,000 after buying an additional 37,590 shares in the last quarter. Ameritas Investment Partners Inc. increased its stake in S&P Global by 77.8% in the third quarter. Ameritas Investment Partners Inc. now owns 10,115 shares of the company’s stock valued at $1,280,000 after buying an additional 4,427 shares during the period. Pioneer Investment Management Inc. increased its stake in S&P Global by 27.1% in the third quarter. Pioneer Investment Management Inc. now owns 84,714 shares of the company’s stock valued at $10,721,000 after buying an additional 18,041 shares during the period. Robecosam AG bought a new stake in S&P Global during the third quarter valued at approximately $125,000. Finally, Candriam Luxembourg S.C.A. increased its stake in S&P Global by 17.0% in the third quarter. Candriam Luxembourg S.C.A. now owns 17,690 shares of the company’s stock valued at $2,239,000 after buying an additional 2,570 shares during the period. Institutional investors own 85.43% 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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