S&P Global (NYSE:SPGI) Price Target Raised to $590.00

07 Oct 2024, 02:25 by Scott Moore · The Cerbat Gem

S&P Global (NYSE:SPGI – Free Report) had its price objective upped by Oppenheimer from $540.00 to $590.00 in a research note issued to investors on Thursday, Benzinga reports. Oppenheimer currently has an outperform rating on the business services provider’s stock.

Other analysts have also recently issued research reports about the stock. Stifel Nicolaus upped their target price on shares of S&P Global from $535.00 to $540.00 and gave the company a buy rating in a research note on Wednesday, July 31st. Raymond James downgraded S&P Global from an outperform rating to a market perform rating in a research report on Monday, September 23rd. Evercore ISI initiated coverage on S&P Global in a research note on Wednesday, October 2nd. They issued an outperform rating and a $599.00 target price for the company. UBS Group increased their price objective on shares of S&P Global from $505.00 to $555.00 and gave the stock a buy rating in a report on Tuesday, July 9th. Finally, Royal Bank of Canada raised their price objective on shares of S&P Global from $500.00 to $552.00 and gave the company an outperform rating in a research report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating, ten have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, S&P Global currently has an average rating of Moderate Buy and a consensus target price of $556.58.

View Our Latest Report on SPGI

S&P Global Trading Down 0.5 %

S&P Global stock opened at $512.17 on Thursday. S&P Global has a 52 week low of $340.49 and a 52 week high of $528.02. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.03 and a current ratio of 1.03. The firm has a market capitalization of $160.26 billion, a PE ratio of 57.42, a PEG ratio of 2.91 and a beta of 1.18. The business’s 50-day simple moving average is $504.86 and its 200-day simple moving average is $461.62.

S&P Global (NYSE:SPGI – Get Free Report) last posted its quarterly earnings data on Tuesday, July 30th. The business services provider reported $4.04 earnings per share for the quarter, beating the consensus estimate of $3.67 by $0.37. S&P Global had a return on equity of 13.03% and a net margin of 25.03%. The company had revenue of $3.55 billion during the quarter, compared to analysts’ expectations of $3.42 billion. During the same period in the prior year, the business earned $3.12 earnings per share. S&P Global’s revenue for the quarter was up 14.4% compared to the same quarter last year. Equities research analysts forecast that S&P Global will post 14.57 earnings per share for the current year.

S&P Global Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Tuesday, November 26th will be paid a $0.91 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $3.64 dividend on an annualized basis and a yield of 0.71%. S&P Global’s payout ratio is presently 40.81%.

Insiders Place Their Bets

In other news, Director Robert P. Kelly sold 7,662 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $481.28, for a total value of $3,687,567.36. Following the transaction, the director now directly owns 15,830 shares in the company, valued at $7,618,662.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, EVP Steven J. Kemps sold 2,700 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total transaction of $1,327,185.00. Following the completion of the transaction, the executive vice president now owns 1,455 shares in the company, valued at approximately $715,205.25. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Robert P. Kelly sold 7,662 shares of the company’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $481.28, for a total transaction of $3,687,567.36. Following the completion of the sale, the director now directly owns 15,830 shares of the company’s stock, valued at $7,618,662.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 17,862 shares of company stock valued at $8,645,727. Company insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On S&P Global

Institutional investors and hedge funds have recently made changes to their positions in the company. Sachetta LLC raised its holdings in S&P Global by 103.4% during the 2nd quarter. Sachetta LLC now owns 59 shares of the business services provider’s stock worth $29,000 after buying an additional 30 shares during the period. Pineridge Advisors LLC acquired a new stake in shares of S&P Global during the fourth quarter worth $26,000. HWG Holdings LP bought a new stake in S&P Global in the 2nd quarter valued at $27,000. Hobbs Group Advisors LLC acquired a new position in S&P Global in the 2nd quarter worth $31,000. Finally, First Pacific Financial increased its holdings in S&P Global by 49.0% during the 2nd quarter. First Pacific Financial now owns 73 shares of the business services provider’s stock worth $33,000 after purchasing an additional 24 shares in the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

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