BMO Capital Markets Reiterates $255.00 Price Target for S&P Global (NYSE:SPGI)

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BMO Capital Markets set a $255.00 target price on S&P Global (NYSE:SPGI) in a research note released on Tuesday, TipRanks reports. The brokerage currently has a hold rating on the business services provider’s stock.

A number of other equities analysts also recently issued reports on SPGI. Stifel Nicolaus upped their price target on S&P Global from $231.00 to $274.00 and gave the company a hold rating in a report on Friday, August 2nd. JPMorgan Chase & Co. started coverage on S&P Global in a report on Wednesday, July 10th. They issued an overweight rating and a $260.00 price target for the company. Morgan Stanley boosted their price objective on S&P Global from $254.00 to $262.00 and gave the company an equal weight rating in a research note on Friday, August 2nd. Edward Jones started coverage on S&P Global in a research note on Wednesday, September 11th. They issued a buy rating for the company. Finally, Argus boosted their price objective on S&P Global to $290.00 and gave the company a buy rating in a research note on Monday, August 5th. Six analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company’s stock. S&P Global currently has an average rating of Buy and an average price target of $252.23.

SPGI traded down $3.95 on Tuesday, reaching $252.78. The company’s stock had a trading volume of 1,323,745 shares, compared to its average volume of 1,201,597. The stock has a 50 day moving average of $256.50 and a two-hundred day moving average of $228.82. The company has a quick ratio of 1.37, a current ratio of 1.37 and a debt-to-equity ratio of 7.52. The company has a market capitalization of $63.08 billion, a price-to-earnings ratio of 29.74, a P/E/G ratio of 2.78 and a beta of 1.07. S&P Global has a fifty-two week low of $156.68 and a fifty-two week high of $269.57.

S&P Global (NYSE:SPGI) last announced its quarterly earnings results on Thursday, August 1st. The business services provider reported $2.43 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $2.28 by $0.15. The firm had revenue of $1.70 billion during the quarter, compared to the consensus estimate of $1.65 billion. S&P Global had a return on equity of 341.54% and a net margin of 31.02%. The firm’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same period in the prior year, the company posted $2.17 earnings per share. As a group, analysts anticipate that S&P Global will post 9.21 earnings per share for the current fiscal year.

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, September 11th. Shareholders of record on Tuesday, August 27th were paid a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date was Monday, August 26th. S&P Global’s dividend payout ratio is currently 26.82%.

In other news, insider Nicholas Cafferillo sold 9,911 shares of the company’s stock in a transaction that occurred on Thursday, August 8th. The stock was sold at an average price of $252.95, for a total transaction of $2,506,987.45. Following the completion of the sale, the insider now owns 7,454 shares in the company, valued at $1,885,489.30. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Alexander Matturri, Jr. sold 1,007 shares of the company’s stock in a transaction that occurred on Tuesday, July 9th. The stock was sold at an average price of $230.44, for a total value of $232,053.08. Following the sale, the chief executive officer now owns 18,723 shares of the company’s stock, valued at approximately $4,314,528.12. The disclosure for this sale can be found here. In the last quarter, insiders sold 23,425 shares of company stock valued at $5,898,602. 0.20% of the stock is owned by company insiders.

Institutional investors have recently added to or reduced their stakes in the company. River & Mercantile Asset Management LLP purchased a new stake in shares of S&P Global during the second quarter worth approximately $25,000. Krane Funds Advisors LLC purchased a new stake in shares of S&P Global during the second quarter worth approximately $25,000. Coastal Investment Advisors Inc. raised its stake in shares of S&P Global by 409.1% during the second quarter. Coastal Investment Advisors Inc. now owns 112 shares of the business services provider’s stock worth $26,000 after purchasing an additional 90 shares during the last quarter. Coastal Capital Group Inc. purchased a new stake in shares of S&P Global during the second quarter worth approximately $27,000. Finally, Meridian Wealth Management LLC purchased a new stake in shares of S&P Global during the first quarter worth approximately $26,000. Institutional investors and hedge funds own 81.92% of the company’s stock.

S&P Global Company Profile

S&P Global Inc, together with its subsidiaries, provides ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. The company operates through four segments: S&P Global Ratings (Ratings), S&P Global Market Intelligence (Market Intelligence), S&P Global Platts (Platts), and S&P Dow Jones Indices (Indices).

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

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