Barclays Raises S&P Global (NYSE:SPGI) Price Target to $620.00

Key Points

• Barclays has raised its price target for S&P Global (NYSE:SPGI) from $610.00 to $620.00, indicating a potential upside of 12.72% from the company's previous close.
• The consensus rating for S&P Global among analysts is currently a "Moderate Buy," with 14 analysts assigning a "buy" rating and two rating the stock as a "hold."
• S&P Global reported quarterly earnings of $4.43 per share, exceeding analysts' expectations and reflecting a 5.8% increase in revenue compared to the same quarter last year.

S&P Global (NYSE:SPGI - Get Free Report) had its price target hoisted by Barclays from $610.00 to $620.00 in a research report issued to clients and investors on Thursday,Benzinga reports. The brokerage presently has an "overweight" rating on the business services provider's stock. Barclays's price target indicates a potential upside of 12.72% from the company's previous close.

Other research analysts also recently issued reports about the stock. Argus upgraded shares of S&P Global to a "strong-buy" rating in a research note on Friday, May 16th. Wells Fargo & Company increased their target price on shares of S&P Global from $627.00 to $632.00 and gave the stock an "overweight" rating in a report on Thursday, July 3rd. Bank of America initiated coverage on shares of S&P Global in a report on Thursday, April 10th. They issued a "buy" rating and a $600.00 price target for the company. JPMorgan Chase & Co. increased their price objective on shares of S&P Global from $575.00 to $625.00 and gave the stock an "overweight" rating in a research note on Monday, July 21st. Finally, Stifel Nicolaus cut their target price on S&P Global from $629.00 to $603.00 and set a "buy" rating on the stock in a research note on Wednesday, April 30th. Two equities research analysts have rated the stock with a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, S&P Global currently has a consensus rating of "Moderate Buy" and a consensus price target of $601.79.

S&P Global Stock Performance

NYSE SPGI traded up $20.70 during trading hours on Thursday, hitting $550.03. 2,494,650 shares of the stock were exchanged, compared to its average volume of 1,289,917. S&P Global has a 12-month low of $427.14 and a 12-month high of $558.86. The company has a quick ratio of 0.90, a current ratio of 0.90 and a debt-to-equity ratio of 0.34. The stock has a 50-day moving average of $519.19 and a 200 day moving average of $508.18. The company has a market cap of $168.69 billion, a price-to-earnings ratio of 43.21, a price-to-earnings-growth ratio of 2.56 and a beta of 1.19.

S&P Global (NYSE:SPGI - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The business services provider reported $4.43 earnings per share for the quarter, topping analysts' consensus estimates of $4.18 by $0.25. S&P Global had a return on equity of 14.68% and a net margin of 27.27%. The company had revenue of $3.76 billion during the quarter, compared to analysts' expectations of $3.65 billion. During the same period in the previous year, the firm posted $4.04 earnings per share. The business's revenue for the quarter was up 5.8% compared to the same quarter last year. As a group, equities research analysts forecast that S&P Global will post 17.11 earnings per share for the current year.

Insider Activity

In other news, EVP Sally Moore sold 500 shares of the business's stock in a transaction that occurred on Monday, May 5th. The shares were sold at an average price of $510.43, for a total transaction of $255,215.00. Following the sale, the executive vice president owned 5,131 shares in the company, valued at $2,619,016.33. The trade was a 8.88% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 0.10% of the company's stock.

Hedge Funds Weigh In On S&P Global

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Minot DeBlois Advisors LLC bought a new position in S&P Global in the 4th quarter valued at $25,000. Costello Asset Management INC acquired a new position in shares of S&P Global during the first quarter valued at $26,000. Cheviot Value Management LLC acquired a new stake in shares of S&P Global during the 1st quarter worth approximately $26,000. Oliver Lagore Vanvalin Investment Group bought a new stake in shares of S&P Global during the second quarter worth approximately $26,000. Finally, Anderson Financial Strategies LLC acquired a new position in S&P Global in the fourth quarter valued at approximately $27,000. Institutional investors and hedge funds own 87.17% of the company's stock.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.