S&P Global Inc. (SPGI) Upgraded by Zacks Investment Research to “Buy”
Zacks Investment Research upgraded shares of S&P Global Inc. (NYSE:SPGI) from a hold rating to a buy rating in a report released on Wednesday morning. Zacks Investment Research currently has $139.00 target price on the stock.
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%.”
A number of other equities research analysts have also weighed in on the stock. Morgan Stanley reaffirmed an equal weight rating and set a $120.00 target price on shares of S&P Global in a research note on Tuesday, July 19th. Barclays PLC lifted their target price on shares of S&P Global from $115.00 to $140.00 and gave the company an overweight rating in a research note on Tuesday, August 23rd. Macquarie initiated coverage on shares of S&P Global in a research note on Thursday, August 25th. They set an outperform rating and a $140.00 target price on the stock. Cantor Fitzgerald set a $117.00 target price on shares of S&P Global and gave the company a buy rating in a research note on Thursday, July 28th. Finally, Credit Suisse Group AG initiated coverage on shares of S&P Global in a research note on Monday, July 11th. They set an outperform rating and a $123.00 target price on the stock. One research analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. The company presently has a consensus rating of Buy and a consensus target price of $131.29.
Shares of S&P Global (NYSE:SPGI) opened at 124.65 on Wednesday. S&P Global has a 1-year low of $78.55 and a 1-year high of $128.40. The stock has a market cap of $32.91 billion, a price-to-earnings ratio of 28.60 and a beta of 1.28. The firm has a 50-day moving average of $124.14 and a 200 day moving average of $112.83.
S&P Global (NYSE:SPGI) last announced its earnings results on Thursday, July 28th. The company reported $1.44 earnings per share for the quarter, beating analysts’ consensus estimates of $1.34 by $0.10. The firm had revenue of $1.48 billion for the quarter, compared to analyst estimates of $1.42 billion. S&P Global had a net margin of 21.32% and a return on equity of 320.10%. The company’s revenue for the quarter was up 10.4% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $1.21 EPS. Equities research analysts forecast that S&P Global will post $5.20 earnings per share for the current year.
The firm also recently disclosed 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. This represents a $1.44 annualized dividend and a yield of 1.16%. The ex-dividend date of this dividend was Wednesday, August 24th. S&P Global’s payout ratio is currently 32.95%.
In related news, SVP Nancy Luquette sold 500 shares of the business’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 sale, the senior vice president now 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 is available at this hyperlink. Also, insider Finbarr J. Oneill sold 36,674 shares of the business’s stock in a transaction dated Monday, August 1st. The stock was sold at an average price of $120.97, for a total transaction of $4,436,453.78. Following the sale, the insider now directly owns 50,772 shares in the company, valued at approximately $6,141,888.84. The disclosure for this sale can be found here. Corporate insiders own 0.60% of the company’s stock.
A number of hedge funds and other institutional investors have recently modified their holdings of the company. Franklin Street Advisors Inc. NC purchased a new position in shares of S&P Global during the third quarter valued at about $2,026,000. Washington Trust Bank purchased a new position in shares of S&P Global during the third quarter valued at about $232,000. Lau Associates LLC purchased a new position in shares of S&P Global during the third quarter valued at about $202,000. Evercore Wealth Management LLC purchased a new position in shares of S&P Global during the second quarter valued at about $730,000. Finally, Macquarie Group Ltd. purchased a new position in shares of S&P Global during the second quarter valued at about $21,152,000. 84.81% of the stock is owned by institutional investors and hedge funds.
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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