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

S&P Global (NYSE:SPGI) had its price objective raised by BMO Capital Markets to $255.00 in a report published on Friday, The Fly reports. BMO Capital Markets currently has a market perform rating on the business services provider’s stock.

A number of other brokerages have also recently weighed in on SPGI. Zacks Investment Research raised shares of S&P Global from a sell rating to a hold rating in a research report on Monday, May 6th. UBS Group lifted their price target on shares of S&P Global from $252.00 to $260.00 and gave the stock a buy rating in a research report on Wednesday, July 10th. Raymond James lifted their price target on shares of S&P Global from $226.00 to $246.00 and gave the stock an outperform rating in a research report on Wednesday, July 10th. Morgan Stanley lifted their price target on shares of S&P Global from $232.00 to $254.00 and gave the stock an equal weight rating in a research report on Wednesday, July 10th. Finally, Cantor Fitzgerald lifted their price target on shares of S&P Global from $244.00 to $294.00 and gave the stock an overweight rating in a research report on Friday. Five investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the company. S&P Global presently has a consensus rating of Buy and an average target price of $244.92.

Shares of S&P Global stock traded down $8.22 during midday trading on Friday, reaching $245.73. The company had a trading volume of 43,775 shares, compared to its average volume of 1,033,060. The company’s fifty day moving average is $236.15. The company has a quick ratio of 1.20, a current ratio of 1.37 and a debt-to-equity ratio of 7.52. S&P Global has a 1-year low of $156.68 and a 1-year high of $262.83. The firm has a market cap of $62.52 billion, a P/E ratio of 28.74, a price-to-earnings-growth ratio of 2.01 and a beta of 1.08.

S&P Global (NYSE:SPGI) last released its earnings results on Thursday, August 1st. The business services provider reported $2.43 EPS for the quarter, topping analysts’ consensus estimates of $2.28 by $0.15. The firm had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.65 billion. S&P Global had a net margin of 31.02% and a return on equity of 341.54%. The business’s quarterly revenue was up 5.9% compared to the same quarter last year. During the same quarter in the previous year, the business earned $2.17 EPS. Equities research analysts expect that S&P Global will post 9.2 earnings per share for the current year.

The business also recently disclosed 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. The ex-dividend date is Monday, August 26th. This represents a $2.28 annualized dividend and a yield of 0.93%. S&P Global’s dividend payout ratio is currently 26.82%.

In other S&P Global news, CEO Douglas L. Peterson sold 6,000 shares of S&P Global stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $211.01, for a total value of $1,266,060.00. Following the sale, the chief executive officer now directly owns 173,431 shares in the company, valued at approximately $36,595,675.31. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, SVP Nancy Luquette sold 2,200 shares of S&P Global stock in a transaction on Tuesday, May 7th. The shares were sold at an average price of $216.85, for a total transaction of $477,070.00. Following the completion of the sale, the senior vice president now owns 2,340 shares in the company, valued at $507,429. The disclosure for this sale can be found here. Insiders sold a total of 13,312 shares of company stock worth $2,868,308 over the last ninety days. 0.20% of the stock is currently owned by insiders.

A number of hedge funds have recently modified their holdings of the business. Meridian Wealth Management LLC acquired a new position in shares of S&P Global during the 1st quarter worth about $26,000. Coastal Investment Advisors Inc. boosted its holdings in S&P Global by 409.1% in the 2nd quarter. Coastal Investment Advisors Inc. now owns 112 shares of the business services provider’s stock valued at $26,000 after purchasing an additional 90 shares during the period. Coastal Capital Group Inc. bought a new stake in S&P Global in the 2nd quarter valued at about $27,000. Harvest Group Wealth Management LLC bought a new stake in S&P Global in the 1st quarter valued at about $28,000. Finally, Kistler Tiffany Companies LLC boosted its holdings in S&P Global by 220.0% in the 1st quarter. Kistler Tiffany Companies LLC now owns 160 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 110 shares during the period. Hedge funds and other institutional investors own 82.67% of the company’s stock.

About S&P Global

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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