S&P Global (NYSE:SPGI) Price Target Raised to $576.00

S&P Global (NYSE:SPGI) had its price objective increased by BMO Capital Markets from $564.00 to $576.00 in a research report sent to investors on Tuesday,Benzinga reports. BMO Capital Markets currently has an outperform rating on the business services provider’s stock.

Several other equities analysts also recently commented on SPGI. Robert W. Baird upped their target price on S&P Global from $536.00 to $575.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Stifel Nicolaus increased their price objective on S&P Global from $540.00 to $560.00 and gave the stock a “buy” rating in a research report on Monday, October 28th. Citigroup started coverage on shares of S&P Global in a research report on Friday, December 20th. They issued a “buy” rating and a $600.00 target price for the company. UBS Group raised their price target on shares of S&P Global from $605.00 to $610.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, JPMorgan Chase & Co. decreased their target price on shares of S&P Global from $600.00 to $585.00 and set an “overweight” rating on the stock in a research report on Friday, October 25th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $584.54.

S&P Global Stock Performance

SPGI opened at $513.36 on Tuesday. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.33. S&P Global has a 12-month low of $407.69 and a 12-month high of $533.29. The business has a 50 day moving average of $504.77 and a 200-day moving average of $502.32. The stock has a market cap of $159.30 billion, a price-to-earnings ratio of 45.31, a PEG ratio of 2.35 and a beta of 1.20.

S&P Global (NYSE:SPGI) last announced its earnings results on Thursday, October 24th. The business services provider reported $3.89 EPS for the quarter, topping the consensus estimate of $3.64 by $0.25. The business had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.43 billion. S&P Global had a net margin of 25.80% and a return on equity of 13.72%. S&P Global’s revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $3.21 EPS. On average, equities research analysts expect that S&P Global will post 15.31 earnings per share for the current year.

Institutional Investors Weigh In On S&P Global

Several hedge funds and other institutional investors have recently made changes to their positions in SPGI. International Assets Investment Management LLC grew its holdings in shares of S&P Global by 174,815.4% during the third quarter. International Assets Investment Management LLC now owns 467,024 shares of the business services provider’s stock worth $241,274,000 after purchasing an additional 466,757 shares during the last quarter. B. Metzler seel. Sohn & Co. Holding AG acquired a new position in S&P Global in the 3rd quarter valued at approximately $224,976,000. FMR LLC raised its stake in shares of S&P Global by 6.6% during the third quarter. FMR LLC now owns 5,965,369 shares of the business services provider’s stock valued at $3,081,830,000 after acquiring an additional 369,598 shares during the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of S&P Global by 13.5% during the second quarter. Ameriprise Financial Inc. now owns 2,516,811 shares of the business services provider’s stock worth $1,115,697,000 after purchasing an additional 298,645 shares during the period. Finally, Union Bancaire Privee UBP SA bought a new stake in shares of S&P Global in the fourth quarter worth $144,091,000. 87.17% of the stock is owned by institutional investors.

About S&P Global

S&P Global, Inc engages in the provision of transparent and independent ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. It operates through the following segments: Market Intelligence, Ratings, Commodity Insights, Mobility, Indices, and Engineering Solutions.