S&P Global Inc. (SPGI) Downgraded by Zacks Investment Research
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 recently weighed in on SPGI. Argus raised their price objective on S&P Global from $120.00 to $135.00 and gave the company a buy rating in a report on Wednesday, August 17th. Cantor Fitzgerald restated a buy rating on shares of S&P Global in a report on Friday, August 19th. Barclays PLC raised their price objective on S&P Global from $115.00 to $140.00 and gave the company an overweight rating in a report on Tuesday, August 23rd. Macquarie started coverage on S&P Global in a report on Thursday, August 25th. They issued an outperform rating and a $140.00 price objective for the company. Finally, Credit Suisse Group AG restated an outperform rating and issued a $131.00 price objective on shares of S&P Global in a report on Sunday, November 20th. Two investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. S&P Global presently has an average rating of Buy and a consensus price target of $131.86.
S&P Global (NYSE:SPGI) opened at 118.99 on Monday. The firm has a 50-day moving average price of $122.85 and a 200 day moving average price of $117.96. The firm has a market cap of $30.83 billion, a PE ratio of 17.55 and a beta of 1.50. S&P Global has a 12-month low of $78.55 and a 12-month high of $128.40.
S&P Global (NYSE:SPGI) last announced its quarterly earnings data on Thursday, November 3rd. The company reported $1.43 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.34 by $0.09. The company earned $1.44 billion during the quarter, compared to analysts’ expectations of $1.42 billion. S&P Global had a return on equity of 378.19% and a net margin of 32.24%. S&P Global’s revenue for the quarter was up 8.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.19 EPS. Equities research analysts forecast that S&P Global will post $5.27 EPS for the current year.
COPYRIGHT VIOLATION WARNING: This news story was first reported by Daily Political and is the sole property of of Daily Political. If you are viewing this news story on another publication, it was illegally copied and republished in violation of U.S. & international trademark & copyright laws. The legal version of this news story can be accessed at http://www.dailypolitical.com/2016/12/01/sp-global-inc-spgi-downgraded-by-zacks-investment-research.html.
The firm also recently declared a quarterly dividend, which will be paid on Monday, December 12th. Investors of record on Monday, November 28th will be issued a dividend of $0.36 per share. This represents a $1.44 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date is Wednesday, November 23rd. S&P Global’s payout ratio is currently 21.15%.
In other S&P Global news, SVP Nancy Luquette sold 500 shares of the firm’s stock in a transaction that occurred on Tuesday, September 13th. The shares were sold at an average price of $123.08, for a total transaction of $61,540.00. Following the completion of the sale, the senior vice president now directly owns 133 shares in the company, valued at $16,369.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.60% of the company’s stock.
Large investors have recently modified their holdings of the company. Vanguard Group Inc. bought a new stake in shares of S&P Global during the second quarter valued at about $1,918,874,000. FMR LLC bought a new stake in shares of S&P Global during the second quarter valued at about $1,791,074,000. Artisan Partners Limited Partnership bought a new stake in shares of S&P Global during the second quarter valued at about $837,221,000. BlackRock Institutional Trust Company N.A. bought a new stake in shares of S&P Global during the second quarter valued at about $730,970,000. Finally, Jennison Associates LLC bought a new stake in shares of S&P Global during the second quarter valued at about $676,571,000. Hedge funds and other institutional investors own 86.21% of the company’s stock.
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.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & 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 companies with MarketBeat.com's FREE daily email newsletter.