S&P Global (NYSE:SPGI) PT Lowered to $434.00

S&P Global (NYSE:SPGI – Get Rating) had its target price reduced by analysts at Royal Bank of Canada from $540.00 to $434.00 in a report issued on Thursday, The Fly reports. Royal Bank of Canada’s price target points to a potential upside of 30.72% from the stock’s current price.

A number of other equities research analysts have also issued reports on SPGI. Credit Suisse Group dropped their target price on S&P Global from $495.00 to $425.00 in a research report on Wednesday, May 4th. Oppenheimer lowered their price target on S&P Global from $540.00 to $497.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 9th. Deutsche Bank Aktiengesellschaft lowered their price target on S&P Global from $515.00 to $483.00 and set a “buy” rating on the stock in a research report on Wednesday, May 4th. Barclays reaffirmed an “overweight” rating and set a $500.00 price target on shares of S&P Global in a research report on Tuesday, March 8th. Finally, StockNews.com initiated coverage on S&P Global in a research report on Thursday, March 31st. They set a “hold” rating on the stock. One analyst has rated the stock with a hold rating and fifteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, S&P Global presently has a consensus rating of “Buy” and an average price target of $451.43.

Shares of S&P Global stock opened at $332.01 on Thursday. The business’s 50 day simple moving average is $375.48 and its 200 day simple moving average is $410.49. S&P Global has a 52-week low of $311.87 and a 52-week high of $484.21. The firm has a market cap of $112.83 billion, a PE ratio of 23.95, a P/E/G ratio of 2.23 and a beta of 1.06. The company has a debt-to-equity ratio of 0.28, a quick ratio of 1.38 and a current ratio of 1.38.

S&P Global (NYSE:SPGI – Get Rating) last announced its earnings results on Tuesday, May 3rd. The business services provider reported $2.89 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.99 by ($0.10). S&P Global had a net margin of 40.43% and a return on equity of 31.07%. The firm had revenue of $2.39 billion during the quarter, compared to analyst estimates of $3.04 billion. During the same period in the prior year, the business posted $3.39 EPS. The firm’s quarterly revenue was up 18.5% compared to the same quarter last year. As a group, equities research analysts predict that S&P Global will post 13.08 EPS for the current year.

In other news, EVP Steven J. Kemps sold 1,591 shares of the company’s stock in a transaction on Friday, March 4th. The stock was sold at an average price of $407.23, for a total transaction of $647,902.93. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Martina Cheung sold 3,870 shares of the company’s stock in a transaction on Thursday, March 10th. The shares were sold at an average price of $381.28, for a total value of $1,475,553.60. The disclosure for this sale can be found here. Insiders sold a total of 9,748 shares of company stock valued at $3,559,780 over the last 90 days. 0.10% of the stock is currently owned by corporate insiders.

Several large investors have recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of S&P Global by 44.5% during the 1st quarter. Vanguard Group Inc. now owns 29,370,454 shares of the business services provider’s stock worth $12,047,173,000 after buying an additional 9,042,302 shares in the last quarter. BlackRock Inc. raised its holdings in shares of S&P Global by 43.8% during the 1st quarter. BlackRock Inc. now owns 27,047,127 shares of the business services provider’s stock worth $11,094,191,000 after buying an additional 8,234,255 shares in the last quarter. State Street Corp raised its holdings in shares of S&P Global by 45.0% during the 1st quarter. State Street Corp now owns 16,352,445 shares of the business services provider’s stock worth $6,707,446,000 after buying an additional 5,078,366 shares in the last quarter. Wellington Management Group LLP increased its holdings in S&P Global by 47.8% in the 1st quarter. Wellington Management Group LLP now owns 8,476,209 shares of the business services provider’s stock worth $3,476,772,000 after purchasing an additional 2,742,007 shares in the last quarter. Finally, TCI Fund Management Ltd. increased its holdings in S&P Global by 82.1% in the 1st quarter. TCI Fund Management Ltd. now owns 6,823,072 shares of the business services provider’s stock worth $2,798,688,000 after purchasing an additional 3,075,788 shares in the last quarter. Hedge funds and other institutional investors own 94.26% of the company’s stock.

About S&P Global (Get Rating)

S&P Global Inc, together with its subsidiaries, provides credit ratings, benchmarks, analytics, and workflow solutions in the global capital, commodity, and automotive markets. It operates in six divisions: S&P Global Ratings, S&P Dow Jones Indices, S&P Global Commodity Insights, S&P Global Market Intelligence, S&P Global Mobility, and S&P Global Engineering Solutions.

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