S&P Global Inc. (SPGI) Stock Rating Lowered by 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 report issued on Monday.
According to Zacks, “S&P Global shares have outperformed the Business Information Services industry year to date. The company continues to impress investors with better-than-expected earnings for the 15th consecutive quarter and surpassed revenues estimate for the second straight quarter with strong performances across S&P Global Ratings and S&P Global Market Intelligence. The company raised its 2016 earnings guidance on the back of healthy growth dynamics. The accretive acquisition of SNL Financial also augurs well for the long-term growth of the company. Over the years, the company has consistently returned significant cash to its shareholders through dividends and share repurchases. However, financial distress could either dent investor’s demand for debt securities or make issuers reluctant to issue such securities. High volatility and stiff competitive pressures remain additional headwinds for S&P Global.”
Several other equities analysts have also issued reports on SPGI. Macquarie started coverage on shares of S&P Global in a report on Thursday, August 25th. They issued an “outperform” rating and a $140.00 target price on the stock. Argus boosted their target price on shares of S&P Global from $120.00 to $135.00 and gave the company a “buy” rating in a report on Wednesday, August 17th. Credit Suisse Group AG restated an “outperform” rating and issued a $131.00 target price on shares of S&P Global in a report on Sunday, November 20th. Barclays PLC upgraded shares of S&P Global from an “equal weight” rating to an “overweight” rating and boosted their target price for the company from $140.00 to $145.00 in a report on Wednesday, September 21st. Finally, Cantor Fitzgerald restated a “buy” rating on shares of S&P Global in a report on Friday, August 19th. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The stock has a consensus rating of “Buy” and a consensus target price of $131.86.
S&P Global (NYSE:SPGI) opened at 119.61 on Monday. The stock’s 50 day moving average is $122.79 and its 200-day moving average is $118.06. The firm has a market capitalization of $30.99 billion, a P/E ratio of 17.64 and a beta of 1.50. S&P Global has a 1-year low of $78.55 and a 1-year high of $128.40.
S&P Global (NYSE:SPGI) last issued its quarterly earnings results on Thursday, November 3rd. The company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.34 by $0.09. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates of $1.42 billion. S&P Global had a net margin of 32.24% and a return on equity of 378.19%. S&P Global’s revenue was up 8.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.19 earnings per share. Analysts forecast that S&P Global will post $5.27 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, December 12th. Investors of record on Monday, November 28th will be issued a $0.36 dividend. The ex-dividend date is Wednesday, November 23rd. This represents a $1.44 annualized dividend and a yield of 1.20%. S&P Global’s payout ratio is 21.15%.
In other S&P Global news, SVP Nancy Luquette sold 500 shares of S&P Global stock in a transaction on Tuesday, September 13th. The shares were sold at an average price of $123.08, for a total value of $61,540.00. Following the completion of the sale, 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 SEC, which is available at the SEC website. 0.60% of the stock is currently owned by company insiders.
A number of large investors have recently bought and sold shares of SPGI. BNP Paribas Arbitrage SA bought a new stake in S&P Global during the second quarter valued at $7,201,000. Pensionfund Sabic bought a new stake in S&P Global during the second quarter valued at $1,984,000. Pensionfund DSM Netherlands bought a new stake in S&P Global during the second quarter valued at $4,344,000. West Oak Capital LLC bought a new stake in S&P Global during the second quarter valued at $139,000. Finally, Raymond James Trust N.A. bought a new stake in S&P Global during the second quarter valued at $1,493,000. 86.21% of the stock is owned by hedge funds and other institutional investors.
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.
Receive News & Stock Ratings for S&P Global Inc. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for S&P Global Inc. and related stocks with our FREE daily email newsletter.