S&P Global (NYSE:SPGI) Price Target Raised to $572.00

S&P Global (NYSE:SPGI) had its price objective hoisted by Barclays from $553.00 to $572.00 in a report released on Monday morning,Benzinga reports. The firm currently has an overweight rating on the business services provider’s stock.

Other equities research analysts have also issued reports about the company. Robert W. Baird set a $513.00 price target on S&P Global in a research report on Wednesday, September 2nd. Weiss Ratings reiterated a “hold (c)” rating on shares of S&P Global in a research report on Friday, October 2nd. Mizuho reduced their price objective on shares of S&P Global from $554.00 to $531.00 and set an “outperform” rating for the company in a report on Monday, October 5th. BMO Capital Markets decreased their price objective on shares of S&P Global from $505.00 to $500.00 and set an “outperform” rating for the company in a report on Tuesday, October 13th. Finally, Royal Bank Of Canada reiterated an “outperform” rating and issued a $510.00 price objective on shares of S&P Global in a report on Wednesday, August 26th. Eighteen research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $523.35.

S&P Global Trading Up 3.3%

NYSE:SPGI opened at $481.40 on Monday. The company has a debt-to-equity ratio of 0.54, a current ratio of 0.74 and a quick ratio of 0.74. S&P Global has a 12 month low of $381.61 and a 12 month high of $552.25. The firm has a market capitalization of $139.56 billion, a PE ratio of 28.71, a price-to-earnings-growth ratio of 2.21 and a beta of 1.03. The business’s 50-day moving average is $424.06 and its two-hundred day moving average is $430.59.

S&P Global (NYSE:SPGI) last issued its quarterly earnings data on Tuesday, October 27th. The business services provider reported $4.58 EPS for the quarter, topping analysts’ consensus estimates of $4.43 by $0.15. S&P Global had a net margin of 32.21% and a return on equity of 19.46%. The firm had revenue of $3.68 billion for the quarter, compared to analyst estimates of $3.64 billion. During the same quarter in the previous year, the business posted $4.73 EPS. The firm’s revenue was up 6.8% compared to the same quarter last year. Research analysts predict that S&P Global will post 17.89 earnings per share for the current fiscal year.

S&P Global Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, December 10th. Shareholders of record on Wednesday, November 25th will be given a $0.97 dividend. This represents a $3.88 annualized dividend and a yield of 0.8%. The ex-dividend date of this dividend is Wednesday, November 25th. S&P Global’s payout ratio is currently 23.14%.

Hedge Funds Weigh In On S&P Global

Institutional investors have recently modified their holdings of the company. Dorsey Asset Management LLC acquired a new stake in S&P Global in the first quarter valued at approximately $94,716,000. NewEdge Advisors LLC increased its holdings in S&P Global by 17.9% in the first quarter. NewEdge Advisors LLC now owns 20,005 shares of the business services provider’s stock valued at $8,509,000 after buying an additional 3,038 shares in the last quarter. Principal Financial Group Inc. grew its stake in S&P Global by 12.9% in the 2nd quarter. Principal Financial Group Inc. now owns 572,659 shares of the business services provider’s stock valued at $233,228,000 after acquiring an additional 65,529 shares during the period. Quantitative Investment Management LLC increased its stake in shares of S&P Global by 127.4% during the second quarter. Quantitative Investment Management LLC now owns 9,033 shares of the business services provider’s stock worth $3,678,000 after purchasing an additional 5,061 shares in the last quarter. Finally, Lombard Odier Asset Management Europe Ltd purchased a new stake in shares of S&P Global during the second quarter worth about $18,361,000. Institutional investors own 87.17% of the company’s stock.

About S&P Global

S&P Global (NYSE: SPGI) is a global provider of financial information, analytics, benchmarks and credit ratings. Its services are used by investors, corporations, governments and other organizations to evaluate risk, assess markets, support investment decisions and manage business operations.

The company operates through businesses including S&P Global Ratings, which provides credit ratings and related research; S&P Global Market Intelligence, which delivers data, research and analytics on companies, markets and industries; and S&P Global Commodity Insights, which supplies information and analysis for energy and commodity markets.