S&P Global Inc. (SPGI) Upgraded to “Buy” by Zacks Investment Research
Zacks Investment Research upgraded shares of S&P Global Inc. (NYSE:SPGI) from a hold rating to a buy rating in a report published on Thursday morning. They currently have $137.00 target price on the stock.
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.”
Several other equities analysts have also recently issued reports on the stock. Barclays PLC upgraded shares of S&P Global from an equal weight rating to an overweight rating and upped their price target for the company from $140.00 to $145.00 in a research report on Wednesday, September 21st. Macquarie assumed coverage on shares of S&P Global in a research report on Thursday, August 25th. They set an outperform rating and a $140.00 price objective for the company. Cantor Fitzgerald reiterated a buy rating on shares of S&P Global in a research report on Friday, August 19th. Finally, Argus increased their price objective on shares of S&P Global from $120.00 to $135.00 and gave the stock a buy rating in a research report on Wednesday, August 17th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The stock currently has a consensus rating of Buy and a consensus target price of $131.00.
Shares of S&P Global (NYSE:SPGI) traded down 0.79% during midday trading on Thursday, reaching $122.99. 257,638 shares of the company’s stock traded hands. The company has a 50 day moving average of $123.63 and a 200 day moving average of $117.03. The firm has a market cap of $31.87 billion, a PE ratio of 18.14 and a beta of 1.50. S&P Global has a 52-week low of $78.55 and a 52-week high of $128.40.
S&P Global (NYSE:SPGI) last announced its quarterly earnings results on Thursday, November 3rd. The company reported $1.43 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.34 by $0.09. S&P Global had a net margin of 32.24% and a return on equity of 378.19%. The firm earned $1.44 billion during the quarter, compared to analysts’ expectations of $1.42 billion. During the same period in the prior year, the company posted $1.19 EPS. The company’s revenue was up 8.8% on a year-over-year basis. On average, equities analysts predict that S&P Global will post $5.26 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Monday, December 12th. Shareholders of record on Monday, November 28th will be paid a $0.36 dividend. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.16%. The ex-dividend date is Wednesday, November 23rd. S&P Global’s dividend payout ratio (DPR) is 21.15%.
In related news, SVP Nancy Luquette sold 500 shares of the firm’s stock in a transaction dated Tuesday, September 13th. The shares were sold at an average price of $123.08, for a total transaction of $61,540.00. Following the transaction, the senior vice president now directly owns 133 shares of the company’s stock, valued at $16,369.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 0.60% of the stock is currently owned by company insiders.
Several hedge funds and other institutional investors have recently added to or reduced their stakes in SPGI. Jacobus Wealth Management Inc. purchased a new position in S&P Global during the second quarter worth $107,000. Fuller & Thaler Asset Management Inc. purchased a new position in S&P Global during the second quarter worth $113,000. Global X Management Co. LLC raised its position in S&P Global by 219.1% in the third quarter. Global X Management Co. LLC now owns 986 shares of the company’s stock worth $125,000 after buying an additional 677 shares during the last quarter. Robecosam AG purchased a new position in S&P Global during the third quarter worth $125,000. Finally, FUKOKU MUTUAL LIFE INSURANCE Co purchased a new position in S&P Global during the second quarter worth $129,000. 85.43% of the stock is currently owned by institutional investors.
S&P Global Company Profile
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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