S&P Global (NYSE:SPGI) Sets New 1-Year High - What's Next?

Key Points

• S&P Global shares reached a new 52-week high at $566.13, closing at $563.03 with a trading volume of 1,462,586 shares.
• Analysts have mostly given S&P Global positive ratings, with a consensus target price of $611.69, indicating a general bullish sentiment toward the stock.
• The company announced a quarterly dividend of $0.96, set to be paid on September 10th, representing an annualized yield of 0.7%.

S&P Global Inc. (NYSE:SPGI - Get Free Report) shares reached a new 52-week high on Wednesday . The company traded as high as $566.13 and last traded at $563.03, with a volume of 1462586 shares traded. The stock had previously closed at $563.02.

Wall Street Analysts Forecast Growth

A number of analysts have commented on SPGI shares. Bank of America initiated coverage on S&P Global in a research report on Thursday, April 10th. They set a "buy" rating and a $600.00 target price on the stock. Wells Fargo & Company raised their target price on shares of S&P Global from $632.00 to $660.00 and gave the company an "overweight" rating in a report on Friday, August 1st. Oppenheimer raised their price objective on shares of S&P Global from $567.00 to $592.00 and gave the stock an "outperform" rating in a research note on Wednesday, July 2nd. UBS Group upped their target price on S&P Global from $575.00 to $620.00 and gave the company a "buy" rating in a research note on Tuesday, July 8th. Finally, BMO Capital Markets raised their price target on S&P Global from $604.00 to $621.00 and gave the stock an "outperform" rating in a research report on Friday, August 1st. Two analysts have rated the stock with a hold rating, thirteen have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $611.69.

S&P Global Price Performance

The company has a market capitalization of $170.05 billion, a PE ratio of 42.85, a PEG ratio of 2.99 and a beta of 1.19. The company has a current ratio of 0.98, a quick ratio of 0.90 and a debt-to-equity ratio of 0.34. The company's 50 day moving average price is $524.54 and its 200-day moving average price is $510.73.

S&P Global (NYSE:SPGI - Get Free Report) last released its quarterly earnings data 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 business had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.65 billion. During the same period in the previous year, the company posted $4.04 EPS. The company's revenue was up 5.8% compared to the same quarter last year. On average, sell-side analysts forecast that S&P Global Inc. will post 17.11 earnings per share for the current fiscal year.

S&P Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 10th. Investors of record on Tuesday, August 26th will be issued a dividend of $0.96 per share. The ex-dividend date is Tuesday, August 26th. This represents a $3.84 annualized dividend and a dividend yield of 0.7%. S&P Global's payout ratio is presently 29.54%.

Institutional Trading of S&P Global

Several large investors have recently added to or reduced their stakes in SPGI. Minot DeBlois Advisors LLC acquired a new position in S&P Global during the 4th quarter worth approximately $25,000. Cheviot Value Management LLC purchased a new stake in S&P Global during the 1st quarter worth $26,000. Costello Asset Management INC acquired a new position in S&P Global in the 1st quarter worth $26,000. Oliver Lagore Vanvalin Investment Group purchased a new position in S&P Global in the 2nd quarter valued at about $26,000. Finally, Anderson Financial Strategies LLC acquired a new stake in shares of S&P Global during the fourth quarter valued at about $27,000. 87.17% of the stock is currently owned by institutional investors and hedge funds.

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.