Zacks Investment Research Lowers S&P Global (SPGI) to Hold
Zacks Investment Research downgraded shares of S&P Global (NYSE:SPGI) from a buy rating to a hold rating in a research note issued to investors on Monday morning.
According to Zacks, “S&P Global’s strategic portfolio restructuring initiatives and focus on core business are likely to drive growth. This apart, opportune acquisitions and positive industry trends augur well for future. The company’s Standard & Poor's Ratings Services appears to be a long-term growth driver as corporate and U.S. structured finance issuance is picking up momentum with growth in M&A. The company also outperformed the industry in the last three months. However, various lawsuits have hampered the credibility of the company and adversely impacted its financial results. S&P Global’s performance is likely to be hurt by lower volume of debt securities issued in the capital markets. Financial distress could either dent investor’s demand for debt securities or make issuers reluctant to issue such securities. Stiff competition from other players in the industry remains another challenge.”
Other equities research analysts have also recently issued reports about the stock. UBS Group upped their target price on shares of S&P Global from $173.00 to $185.00 and gave the company a buy rating in a report on Friday, October 27th. Cantor Fitzgerald reissued a buy rating and set a $177.00 price target on shares of S&P Global in a report on Thursday, October 26th. BidaskClub cut shares of S&P Global from a strong-buy rating to a buy rating in a report on Friday, October 20th. BMO Capital Markets reissued a buy rating and set a $177.00 price target on shares of S&P Global in a report on Friday, October 13th. Finally, Morgan Stanley increased their price target on shares of S&P Global from $154.00 to $158.00 and gave the stock an equal weight rating in a report on Friday, October 6th. Six analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. S&P Global currently has an average rating of Buy and an average price target of $172.00.
S&P Global (NYSE:SPGI) last announced its earnings results on Thursday, October 26th. The business services provider reported $1.71 EPS for the quarter, beating analysts’ consensus estimates of $1.52 by $0.19. S&P Global had a net margin of 30.15% and a return on equity of 187.30%. The business had revenue of $1.51 billion during the quarter, compared to analysts’ expectations of $1.45 billion. During the same period in the prior year, the company earned $1.43 earnings per share. The business’s revenue was up 5.1% compared to the same quarter last year. equities research analysts forecast that S&P Global will post 6.67 earnings per share for the current fiscal year.
In other S&P Global news, CEO Douglas L. Peterson sold 4,000 shares of the stock in a transaction dated Wednesday, November 15th. The shares were sold at an average price of $157.79, for a total value of $631,160.00. Following the completion of the transaction, the chief executive officer now directly owns 140,743 shares of the company’s stock, valued at $22,207,837.97. The sale was disclosed in a filing with the SEC, which is available at this link. Also, EVP Courtney Geduldig sold 1,596 shares of the stock in a transaction dated Friday, November 3rd. The shares were sold at an average price of $156.50, for a total transaction of $249,774.00. Following the completion of the transaction, the executive vice president now directly owns 2,663 shares of the company’s stock, valued at $416,759.50. The disclosure for this sale can be found here. Insiders have sold 7,000 shares of company stock valued at $1,104,704 over the last three months. 0.20% of the stock is currently owned by corporate insiders.
Institutional investors have recently modified their holdings of the business. Americafirst Capital Management LLC acquired a new stake in shares of S&P Global in the third quarter valued at approximately $150,000. San Francisco Sentry Investment Group CA grew its position in shares of S&P Global by 828.0% in the third quarter. San Francisco Sentry Investment Group CA now owns 1,160 shares of the business services provider’s stock valued at $181,000 after purchasing an additional 1,035 shares during the last quarter. W. E. Donoghue & Co. LLC acquired a new stake in shares of S&P Global in the second quarter valued at approximately $200,000. Country Club Trust Company n.a. acquired a new stake in shares of S&P Global in the fourth quarter valued at approximately $203,000. Finally, QCM Cayman Ltd. acquired a new stake in shares of S&P Global in the second quarter valued at approximately $206,000. 85.29% of the stock is owned by institutional investors.
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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