S&P Global (NYSE:SPGI) Price Target Raised to $572.00

Key Points

• Barclays raised S&P Global’s price target to $572 from $553 and maintained an “overweight” rating, implying 20.46% upside from the prior close.
• Analyst sentiment remains favorable: 18 analysts rate the stock a Buy and two rate it a Hold, with a consensus rating of “Moderate Buy” and an average price target of $523.35.
• S&P Global exceeded quarterly expectations, reporting $4.58 in adjusted EPS and $3.68 billion in revenue, while revenue increased 6.8% year over year.

S&P Global (NYSE:SPGI - Get Free Report) had its price objective lifted by stock analysts at Barclays from $553.00 to $572.00 in a research note issued on Monday, Benzinga reports. The brokerage currently has an "overweight" rating on the business services provider's stock. Barclays's price target would suggest a potential upside of 20.46% from the stock's previous close.

A number of other research firms also recently weighed in on SPGI. Weiss Ratings restated a "hold (c)" rating on shares of S&P Global in a report on Friday, October 2nd. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $510.00 price target on shares of S&P Global in a report on Wednesday, August 26th. Wall Street Zen upgraded S&P Global to a "hold" rating in a research report on Saturday, September 5th. Stifel Nicolaus boosted their price objective on S&P Global from $489.00 to $521.00 and gave the stock a "buy" rating in a research note on Friday, July 17th. Finally, Morgan Stanley upped their price objective on S&P Global from $477.00 to $515.00 and gave the company an "overweight" rating in a research report on Wednesday, October 28th. Eighteen equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $523.35.

S&P Global Price Performance

NYSE:SPGI traded up $8.31 during trading hours on Monday, reaching $474.86. The stock had a trading volume of 1,512,101 shares, compared to its average volume of 2,195,174. The stock has a market capitalization of $137.66 billion, a PE ratio of 28.32, a PEG ratio of 2.21 and a beta of 1.09. S&P Global has a 52 week low of $381.61 and a 52 week high of $552.25. The company has a 50 day moving average price of $421.62 and a two-hundred day moving average price of $431.64. The company has a debt-to-equity ratio of 0.54, a quick ratio of 0.74 and a current ratio of 0.74.

S&P Global (NYSE:SPGI - Get Free Report) last posted its earnings results on Tuesday, October 27th. The business services provider reported $4.58 EPS for the quarter, beating analysts' consensus estimates of $4.43 by $0.15. S&P Global had a return on equity of 19.46% and a net margin of 32.21%. The firm had revenue of $3.68 billion during the quarter, compared to the consensus estimate of $3.64 billion. During the same period in the prior year, the company earned $4.73 EPS. The company's quarterly revenue was up 6.8% compared to the same quarter last year. As a group, sell-side analysts anticipate that S&P Global will post 17.89 earnings per share for the current fiscal year.

Institutional Investors Weigh In On S&P Global

Institutional investors and hedge funds have recently modified their holdings of the business. Dorsey Asset Management LLC acquired a new position in shares of S&P Global during the 1st quarter worth $94,716,000. NewEdge Advisors LLC increased its holdings in shares of S&P Global by 17.9% in the 1st quarter. NewEdge Advisors LLC now owns 20,005 shares of the business services provider's stock valued at $8,509,000 after purchasing an additional 3,038 shares in the last quarter. Principal Financial Group Inc. lifted its stake in shares of S&P Global by 12.9% in the second quarter. Principal Financial Group Inc. now owns 572,659 shares of the business services provider's stock valued at $233,228,000 after purchasing an additional 65,529 shares during the period. Quantitative Investment Management LLC lifted its stake in shares of S&P Global by 127.4% in the second quarter. Quantitative Investment Management LLC now owns 9,033 shares of the business services provider's stock valued at $3,678,000 after purchasing an additional 5,061 shares during the period. Finally, Lombard Odier Asset Management Europe Ltd acquired a new stake in shares of S&P Global in the second quarter valued at about $18,361,000. 87.17% of the stock is owned by institutional investors.

About S&P Global

S&P Global NYSE: SPGI is a global provider of financial information, analytics, benchmarks and credit ratings. Its services are used by investors, corporations, governments and other organizations to evaluate risk, assess markets, support investment decisions and manage business operations.

The company operates through businesses including S&P Global Ratings, which provides credit ratings and related research; S&P Global Market Intelligence, which delivers data, research and analytics on companies, markets and industries; and S&P Global Commodity Insights, which supplies information and analysis for energy and commodity markets.

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