S&P Global Inc (NYSE:SPGI) Given Equal Weight Rating at Morgan Stanley
Morgan Stanley reaffirmed their equal weight rating on shares of S&P Global Inc (NYSE:SPGI) in a research note issued to investors on Friday morning. They currently have a $146.00 price objective on the business services provider’s stock, up from their prior price objective of $145.00.
Other equities research analysts have also recently issued reports about the stock. Cantor Fitzgerald restated an overweight rating and set a $153.00 price target (up from $139.00) on shares of S&P Global in a report on Wednesday, April 26th. Zacks Investment Research cut shares of S&P Global from a buy rating to a hold rating in a report on Wednesday, July 12th. Raymond James Financial, Inc. upgraded shares of S&P Global from a market perform rating to an outperform rating and set a $143.00 price target for the company in a report on Monday, April 17th. Argus restated a buy rating and set a $158.00 price target (up from $150.00) on shares of S&P Global in a report on Monday, May 29th. Finally, Barclays PLC upped their price target on shares of S&P Global from $150.00 to $155.00 and gave the company an overweight rating in a report on Wednesday, June 28th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. S&P Global presently has a consensus rating of Buy and an average target price of $151.40.
Shares of S&P Global (NYSE:SPGI) traded up 0.03% during mid-day trading on Friday, hitting $149.51. The stock had a trading volume of 1,117,102 shares. S&P Global has a one year low of $107.21 and a one year high of $150.40. The company has a market cap of $38.54 billion, a PE ratio of 17.83 and a beta of 1.52. The firm’s 50 day moving average price is $143.34 and its 200-day moving average price is $129.50.
S&P Global (NYSE:SPGI) last released its quarterly earnings results on Tuesday, April 25th. The business services provider reported $1.62 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.39 by $0.23. S&P Global had a net margin of 29.59% and a return on equity of 222.43%. The company had revenue of $1.45 billion during the quarter, compared to analysts’ expectations of $1.37 billion. The firm’s revenue for the quarter was up 8.4% compared to the same quarter last year. On average, equities research analysts anticipate that S&P Global will post $6.19 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Monday, August 28th will be given a dividend of $0.41 per share. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.10%. The ex-dividend date is Thursday, August 24th. S&P Global’s dividend payout ratio is currently 19.57%.
In related news, Director Marco Alvera acquired 400 shares of the business’s stock in a transaction dated Tuesday, May 30th. The stock was acquired at an average price of $140.09 per share, with a total value of $56,036.00. Following the completion of the transaction, the director now owns 400 shares of the company’s stock, valued at $56,036. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 0.20% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Advisory Services Network LLC bought a new position in shares of S&P Global during the first quarter worth approximately $101,000. American Beacon Advisors Inc. bought a new position in shares of S&P Global during the first quarter worth approximately $103,000. State of Alaska Department of Revenue bought a new position in shares of S&P Global during the first quarter worth approximately $125,000. Guardian Life Insurance Co. of America raised its position in shares of S&P Global by 1.0% in the first quarter. Guardian Life Insurance Co. of America now owns 999 shares of the business services provider’s stock worth $131,000 after buying an additional 10 shares in the last quarter. Finally, Parallel Advisors LLC raised its position in shares of S&P Global by 5.4% in the first quarter. Parallel Advisors LLC now owns 971 shares of the business services provider’s stock worth $131,000 after buying an additional 50 shares in the last quarter. 85.82% of the stock is owned by institutional investors and hedge funds.
About S&P Global
S&P Global Inc, formerly McGraw Hill Financial Inc, is a provider of ratings, benchmarks, analytics and data to the capital and commodity markets around the world. The Company operates through three segments: Ratings, which provides credit ratings, research and analytics to investors, issuers and other market participants; Market and Commodities Intelligence, which offers multi-asset-class data, research and analytical capabilities that integrate cross-asset analytics and desktop services, and deliver their customers in the commodity and energy markets access to information, data, analytic services and pricing and benchmarks, and S&P Dow Jones Indices (Indices), which is an index provider that maintains a range of valuation and index benchmarks for investment advisors, wealth managers and institutional investors.
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