Seaport Res Ptn Upgrades S&P Global (NYSE:SPGI) to "Strong-Buy"

Key Points

• Seaport Res Ptn has upgraded S&P Global to a "strong-buy" rating, signaling strong expectations for the company moving forward.
• Multiple analysts have raised their price targets for S&P Global, with Citigroup increasing it from $600 to $635 and Wells Fargo raising it from $660 to $661.
• S&P Global reported an earnings per share of $4.43 for the last quarter, surpassing the consensus estimate and showing a year-over-year revenue increase of 5.8%.

S&P Global (NYSE:SPGI - Get Free Report) was upgraded by Seaport Res Ptn to a "strong-buy" rating in a research report issued to clients and investors on Wednesday,Zacks.com reports.

Other equities research analysts have also recently issued reports about the stock. Citigroup lifted their price objective on shares of S&P Global from $600.00 to $635.00 and gave the company a "buy" rating in a research note on Monday, September 15th. Wells Fargo & Company boosted their price target on shares of S&P Global from $660.00 to $661.00 and gave the stock an "overweight" rating in a research report on Friday, September 19th. JPMorgan Chase & Co. upped their price target 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. Morgan Stanley raised their price objective on shares of S&P Global from $595.00 to $615.00 and gave the company an "overweight" rating in a research note on Friday, August 1st. Finally, Barclays upped their target price on S&P Global from $610.00 to $620.00 and gave the stock an "overweight" rating in a research report on Thursday, July 31st. Two investment analysts have rated the stock with a Strong Buy rating and thirteen have issued a Buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Buy" and a consensus target price of $614.46.

S&P Global Stock Performance

Shares of NYSE SPGI opened at $481.84 on Wednesday. S&P Global has a 12-month low of $427.14 and a 12-month high of $579.05. The company has a market cap of $147.11 billion, a PE ratio of 37.06, a P/E/G ratio of 2.61 and a beta of 1.19. The stock has a 50 day simple moving average of $537.56 and a 200-day simple moving average of $515.09. The company has a current ratio of 0.98, a quick ratio of 0.98 and a debt-to-equity ratio of 0.34.

S&P Global (NYSE:SPGI - Get Free Report) last announced its earnings results on Thursday, July 31st. The business services provider reported $4.43 earnings per share for the quarter, beating the consensus estimate of $4.18 by $0.25. S&P Global had a return on equity of 15.11% and a net margin of 27.30%.The firm had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.65 billion. During the same quarter in the previous year, the business earned $4.04 EPS. The firm's revenue for the quarter was up 5.8% on a year-over-year basis. S&P Global has set its FY 2025 guidance at 17.000-17.250 EPS. On average, equities research analysts forecast that S&P Global will post 17.11 EPS for the current year.

Institutional Investors Weigh In On S&P Global

Hedge funds have recently modified their holdings of the stock. Cheviot Value Management LLC purchased a new position in shares of S&P Global in the first quarter worth approximately $26,000. Costello Asset Management INC acquired a new position in S&P Global in the 1st quarter worth approximately $26,000. Oliver Lagore Vanvalin Investment Group purchased a new position in S&P Global during the 2nd quarter worth approximately $26,000. MTM Investment Management LLC acquired a new stake in S&P Global during the 2nd quarter valued at $27,000. Finally, Smallwood Wealth Investment Management LLC purchased a new stake in shares of S&P Global in the first quarter valued at $28,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

S&P Global Company Profile

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.

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