Morgan Stanley Boosts S&P Global (NYSE:SPGI) Price Target to $262.00

S&P Global (NYSE:SPGI) had its target price upped by Morgan Stanley from $254.00 to $262.00 in a research note issued to investors on Friday morning, BenzingaRatingsTable reports. Morgan Stanley currently has an equal weight rating on the business services provider’s stock.

Other equities analysts also recently issued research reports about the stock. Zacks Investment Research upgraded shares of S&P Global from a sell rating to a hold rating in a research note on Monday, May 6th. Raymond James lifted their target price on S&P Global from $226.00 to $246.00 and gave the company an outperform rating in a research note on Wednesday, July 10th. Piper Jaffray Companies lifted their target price on S&P Global from $220.00 to $242.00 and gave the company an overweight rating in a research note on Friday, April 5th. BMO Capital Markets lifted their target price on S&P Global to $255.00 and gave the company a market perform rating in a research note on Friday. Finally, UBS Group lifted their target price on S&P Global from $252.00 to $260.00 and gave the company a buy rating in a research note on Wednesday, July 10th. Five equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. The company has a consensus rating of Buy and an average price target of $244.92.

Shares of SPGI traded down $5.22 during trading hours on Friday, hitting $248.73. The company’s stock had a trading volume of 21,420 shares, compared to its average volume of 1,033,060. The company has a market cap of $62.52 billion, a P/E ratio of 29.28, a price-to-earnings-growth ratio of 2.01 and a beta of 1.08. The company has a current ratio of 1.37, a quick ratio of 1.20 and a debt-to-equity ratio of 7.52. The company has a 50 day moving average price of $236.15. S&P Global has a 52-week low of $156.68 and a 52-week high of $262.83.

S&P Global (NYSE:SPGI) last posted its earnings results on Thursday, August 1st. The business services provider reported $2.43 earnings per share for the quarter, topping the 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 net margin of 31.02% and a return on equity of 341.54%. The company’s revenue was up 5.9% on a year-over-year basis. During the same quarter last year, the company earned $2.17 earnings per share. As a group, sell-side analysts anticipate that S&P Global will post 9.2 EPS for the current year.

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Tuesday, August 27th will be paid a dividend of $0.57 per share. The ex-dividend date is Monday, August 26th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.92%. S&P Global’s payout ratio is 26.82%.

In other news, CEO Alexander Matturri, Jr. sold 1,007 shares of the business’s stock in a transaction dated Tuesday, July 9th. The stock was sold at an average price of $230.44, for a total transaction of $232,053.08. Following the sale, the chief executive officer now owns 18,723 shares in the company, valued at $4,314,528.12. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Douglas L. Peterson sold 6,000 shares of the business’s stock in a transaction dated Wednesday, May 15th. The stock was 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 owns 173,431 shares in the company, valued at approximately $36,595,675.31. The disclosure for this sale can be found here. Insiders have sold 13,312 shares of company stock worth $2,868,308 in the last 90 days. Insiders own 0.20% of the company’s stock.

Several institutional investors have recently added to or reduced their stakes in the stock. CAPROCK Group Inc. raised its stake in shares of S&P Global by 17.1% during the 1st quarter. CAPROCK Group Inc. now owns 1,620 shares of the business services provider’s stock worth $341,000 after buying an additional 236 shares during the period. Bbva Compass Bancshares Inc. increased its position in shares of S&P Global by 3.4% during the first quarter. Bbva Compass Bancshares Inc. now owns 4,903 shares of the business services provider’s stock worth $1,032,000 after purchasing an additional 163 shares in the last quarter. Quadrant Capital Group LLC increased its position in shares of S&P Global by 11.1% during the first quarter. Quadrant Capital Group LLC now owns 1,611 shares of the business services provider’s stock worth $327,000 after purchasing an additional 161 shares in the last quarter. Contravisory Investment Management Inc. increased its position in shares of S&P Global by 24.0% during the second quarter. Contravisory Investment Management Inc. now owns 305 shares of the business services provider’s stock worth $69,000 after purchasing an additional 59 shares in the last quarter. Finally, Manning & Napier Group LLC purchased a new stake in S&P Global in the 1st quarter valued at $103,755,000. 82.67% of the stock is owned by hedge funds and other institutional investors.

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

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