ValuEngine Downgrades S&P Global (SPGI) to Hold

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ValuEngine downgraded shares of S&P Global (NYSE:SPGI) from a buy rating to a hold rating in a research report report published on Tuesday morning.

Other analysts have also recently issued research reports about the stock. Morgan Stanley boosted their target price on shares of S&P Global from $214.00 to $217.00 and gave the stock a $214.26 rating in a research note on Wednesday, July 18th. UBS Group decreased their target price on shares of S&P Global from $242.00 to $241.00 and set a buy rating on the stock in a research note on Friday, September 21st. Zacks Investment Research raised shares of S&P Global from a hold rating to a buy rating and set a $228.00 price objective on the stock in a research note on Monday, July 2nd. Stifel Nicolaus boosted their price objective on shares of S&P Global from $186.00 to $214.00 and gave the stock a hold rating in a research note on Friday, July 27th. Finally, BMO Capital Markets boosted their price objective on shares of S&P Global from $209.00 to $214.00 and gave the stock a market perform rating in a research note on Friday, July 27th. Ten analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus price target of $205.86.

NYSE SPGI opened at $186.47 on Tuesday. The firm has a market cap of $49.14 billion, a price-to-earnings ratio of 27.06, a P/E/G ratio of 1.83 and a beta of 1.20. S&P Global has a fifty-two week low of $153.25 and a fifty-two week high of $217.31. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 5.75.

S&P Global (NYSE:SPGI) last posted its earnings results on Thursday, July 26th. The business services provider reported $2.17 earnings per share for the quarter, topping analysts’ consensus estimates of $2.13 by $0.04. The firm had revenue of $1.61 billion for the quarter, compared to analysts’ expectations of $1.60 billion. S&P Global had a net margin of 25.95% and a return on equity of 333.87%. The company’s revenue was up 6.6% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.72 earnings per share. As a group, sell-side analysts predict that S&P Global will post 8.52 earnings per share for the current year.

In related news, CEO Douglas L. Peterson sold 4,000 shares of the business’s stock in a transaction on Wednesday, August 15th. The shares were sold at an average price of $201.27, for a total value of $805,080.00. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, SVP Nancy Luquette sold 350 shares of the business’s stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $203.35, for a total transaction of $71,172.50. Following the completion of the transaction, the senior vice president now owns 531 shares in the company, valued at approximately $107,978.85. The disclosure for this sale can be found here. Insiders own 0.20% of the company’s stock.

Hedge funds have recently added to or reduced their stakes in the stock. Glenmede Trust Co. NA lifted its holdings in S&P Global by 1,004.1% in the second quarter. Glenmede Trust Co. NA now owns 177,092 shares of the business services provider’s stock valued at $36,107,000 after buying an additional 161,052 shares during the period. Bank of America Corp DE lifted its holdings in S&P Global by 1.2% in the second quarter. Bank of America Corp DE now owns 1,194,906 shares of the business services provider’s stock valued at $243,630,000 after buying an additional 13,859 shares during the period. Davy Asset Management Ltd acquired a new position in S&P Global in the second quarter valued at $1,576,000. Marshall Wace LLP lifted its holdings in S&P Global by 3,985.1% in the second quarter. Marshall Wace LLP now owns 389,800 shares of the business services provider’s stock valued at $79,476,000 after buying an additional 380,258 shares during the period. Finally, Tower Research Capital LLC TRC acquired a new position in S&P Global in the second quarter valued at $1,008,000. Institutional investors and hedge funds own 83.51% of the company’s stock.

S&P Global Company Profile

S&P Global Inc provides independent ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. It operates through three segments: Ratings, Market and Commodities Intelligence, and S&P Dow Jones Indices. The Ratings segment provides credit ratings, research, and analytics to investors, issuers, and other market participants.

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To view ValuEngine’s full report, visit ValuEngine’s official website.

Analyst Recommendations for S&P Global (NYSE:SPGI)

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