S&P Global Inc. (SPGI) Downgraded by 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%.”
Other equities research analysts have also issued reports about the company. Barclays PLC reaffirmed an overweight rating and issued a $115.00 target price on shares of S&P Global in a research report on Tuesday, June 28th. Credit Suisse Group AG began coverage on S&P Global in a research report on Monday, July 11th. They issued an outperform rating and a $123.00 target price on the stock. Morgan Stanley reissued an equal weight rating and set a $120.00 price target on shares of S&P Global in a report on Tuesday, July 19th. Cantor Fitzgerald set a $117.00 price target on S&P Global and gave the company a buy rating in a report on Thursday, July 28th. Finally, Argus raised their price target on S&P Global from $120.00 to $135.00 and gave the company a buy rating in a report on Wednesday, August 17th. One analyst has rated the stock with a hold rating and six have given a buy rating to the company. The stock presently has an average rating of Buy and a consensus target price of $131.43.
Shares of S&P Global (NYSE:SPGI) opened at 126.83 on Tuesday. The company has a 50 day moving average of $122.40 and a 200 day moving average of $110.00. S&P Global has a 52-week low of $78.55 and a 52-week high of $128.40. The stock has a market capitalization of $33.48 billion, a price-to-earnings ratio of 29.10 and a beta of 1.22.
S&P Global (NYSE:SPGI) last posted its quarterly earnings results on Thursday, July 28th. The company reported $1.44 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.34 by $0.10. The business had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.42 billion. S&P Global had a return on equity of 320.10% and a net margin of 21.32%. The business’s revenue was up 10.4% compared to the same quarter last year. During the same period in the prior year, the company posted $1.21 EPS. Analysts predict that S&P Global will post $5.19 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Friday, August 26th were paid a dividend of $0.36 per share. The ex-dividend date of this dividend was Wednesday, August 24th. This represents a $1.44 annualized dividend and a yield of 1.14%. S&P Global’s dividend payout ratio is currently 32.95%.
In related news, insider Finbarr J. Oneill sold 36,674 shares of the stock in a transaction on Monday, August 1st. The stock was sold at an average price of $120.97, for a total value of $4,436,453.78. Following the completion of the transaction, the insider now owns 50,772 shares in the company, valued at approximately $6,141,888.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, SVP Nancy Luquette sold 500 shares of the 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 transaction, the senior vice president now owns 133 shares of the company’s stock, valued at approximately $16,369.64. The disclosure for this sale can be found here. 0.60% of the stock is owned by corporate insiders.
Institutional investors have recently added to or reduced their stakes in the stock. Jacobus Wealth Management Inc. bought a new position in S&P Global during the second quarter worth $107,000. Fuller & Thaler Asset Management Inc. bought a new position in S&P Global during the second quarter worth $113,000. FUKOKU MUTUAL LIFE INSURANCE Co bought a new position in S&P Global during the second quarter worth $129,000. West Oak Capital LLC bought a new position in S&P Global during the second quarter worth $139,000. Finally, Quadrant Capital Group LLC bought a new position in S&P Global during the second quarter worth $146,000. Institutional investors and hedge funds own 84.81% of the company’s stock.
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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