JPMorgan Chase & Co. assumed coverage on shares of S&P Global (NYSE:SPGI) in a research report released on Wednesday morning, Briefing.com Automated Import reports. The brokerage issued an overweight rating and a $260.00 target price on the business services provider’s stock.
SPGI has been the subject of several other reports. UBS Group set a €117.00 ($136.05) price objective on SAP and gave the stock a neutral rating in a research report on Tuesday, May 21st. Zacks Investment Research lowered GALP ENERGIA SG/ADR from a hold rating to a sell rating in a research report on Monday, May 6th. Raymond James reaffirmed a hold rating on shares of Snc-Lavalin Group in a research report on Tuesday, April 9th. Piper Jaffray Companies set a $16.00 target price on WPX Energy and gave the company a buy rating in a research report on Friday, April 5th. Finally, Morgan Stanley reaffirmed an overweight rating and issued a GBX 4,000 ($52.27) target price on shares of in a research report on Thursday, June 13th. Five research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. The stock currently has a consensus rating of Buy and a consensus price target of $225.55.
SPGI stock opened at $241.26 on Wednesday. The stock has a 50-day simple moving average of $225.73. S&P Global has a 1-year low of $156.68 and a 1-year high of $241.29. The company has a debt-to-equity ratio of 11.03, a quick ratio of 1.20 and a current ratio of 1.20. The company has a market cap of $58.70 billion, a price-to-earnings ratio of 28.38, a PEG ratio of 1.91 and a beta of 1.08.
S&P Global (NYSE:SPGI) last posted its quarterly earnings data on Thursday, May 2nd. The business services provider reported $2.11 earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $2.12 by ($0.01). S&P Global had a return on equity of 325.28% and a net margin of 29.99%. The business had revenue of $1.57 billion during the quarter, compared to the consensus estimate of $1.60 billion. During the same period last year, the business posted $2.00 earnings per share. The business’s revenue was up .3% on a year-over-year basis. On average, equities analysts forecast that S&P Global will post 9.03 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 11th. Investors of record on Tuesday, August 27th will be given a $0.57 dividend. This represents a $2.28 dividend on an annualized basis and a yield of 0.95%. The ex-dividend date of this dividend is Monday, August 26th. S&P Global’s payout ratio is 26.82%.
In other S&P Global news, CFO Ewout L. Steenbergen sold 8,000 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $215.59, for a total transaction of $1,724,720.00. Following the completion of the sale, the chief financial officer now directly owns 15,694 shares of the company’s stock, valued at approximately $3,383,469.46. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Alexander Matturri, Jr. sold 1,007 shares of the business’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 directly owns 18,723 shares of the company’s stock, valued at $4,314,528.12. The disclosure for this sale can be found here. Insiders sold a total of 21,312 shares of company stock valued at $4,593,028 over the last ninety days. 0.20% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently modified their holdings of the business. Granite Investment Advisors LLC increased its holdings in S&P Global by 0.4% during the 1st quarter. Granite Investment Advisors LLC now owns 13,249 shares of the business services provider’s stock worth $2,790,000 after purchasing an additional 50 shares in the last quarter. First Mercantile Trust Co. increased its holdings in S&P Global by 7.1% during the 1st quarter. First Mercantile Trust Co. now owns 781 shares of the business services provider’s stock worth $164,000 after purchasing an additional 52 shares in the last quarter. Wambolt & Associates LLC boosted its stake in shares of S&P Global by 3.1% in the 1st quarter. Wambolt & Associates LLC now owns 1,744 shares of the business services provider’s stock worth $375,000 after buying an additional 53 shares during the last quarter. ETF Managers Group LLC boosted its stake in shares of S&P Global by 7.9% in the 1st quarter. ETF Managers Group LLC now owns 753 shares of the business services provider’s stock worth $159,000 after buying an additional 55 shares during the last quarter. Finally, CNB Bank boosted its stake in shares of S&P Global by 45.9% in the 1st quarter. CNB Bank now owns 178 shares of the business services provider’s stock worth $37,000 after buying an additional 56 shares during the last quarter. 82.77% of the stock is owned by hedge funds and other institutional investors.
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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