S&P Global (NYSE:SPGI) Sets New 1-Year High After Earnings Beat

Key Points

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S&P Global Inc. (NYSE:SPGI - Get Free Report)'s stock price reached a new 52-week high on Thursday following a better than expected earnings announcement. The company traded as high as $558.86 and last traded at $549.75, with a volume of 346603 shares. The stock had previously closed at $529.33.

The business services provider reported $4.43 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $4.18 by $0.25. The firm had revenue of $3.76 billion for the quarter, compared to the consensus estimate of $3.65 billion. S&P Global had a net margin of 27.27% and a return on equity of 14.68%. The company's revenue for the quarter was up 5.8% on a year-over-year basis. During the same period in the prior year, the firm posted $4.04 earnings per share.

S&P Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Tuesday, August 26th will be issued a dividend of $0.96 per share. This represents a $3.84 dividend on an annualized basis and a dividend yield of 0.70%. The ex-dividend date of this dividend is Tuesday, August 26th. S&P Global's dividend payout ratio is currently 30.16%.

Analyst Upgrades and Downgrades

SPGI has been the topic of several analyst reports. Oppenheimer lifted their target price 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. Morgan Stanley upped their price objective on shares of S&P Global from $587.00 to $595.00 and gave the company an "overweight" rating in a research note on Monday, July 7th. Robert W. Baird reduced their price target on S&P Global from $616.00 to $589.00 and set an "outperform" rating on the stock in a report on Wednesday, April 30th. UBS Group upped their price target on S&P Global from $575.00 to $620.00 and gave the company a "buy" rating in a research report on Tuesday, July 8th. Finally, JPMorgan Chase & Co. lifted their price objective on S&P Global from $575.00 to $625.00 and gave the stock an "overweight" rating in a research report on Monday, July 21st. Two analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average price target of $601.07.

Insiders Place Their Bets

In related news, EVP Sally Moore sold 500 shares of the business's stock in a transaction that occurred on Monday, May 5th. The stock was sold at an average price of $510.43, for a total value of $255,215.00. Following the completion of the sale, the executive vice president owned 5,131 shares in the company, valued at approximately $2,619,016.33. The trade was a 8.88% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 0.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SPGI. Stegent Equity Advisors Inc. increased its position in shares of S&P Global by 3.1% in the first quarter. Stegent Equity Advisors Inc. now owns 659 shares of the business services provider's stock valued at $335,000 after buying an additional 20 shares in the last quarter. Foster Dykema Cabot & Partners LLC increased its holdings in S&P Global by 0.7% in the 1st quarter. Foster Dykema Cabot & Partners LLC now owns 2,859 shares of the business services provider's stock worth $1,453,000 after acquiring an additional 20 shares in the last quarter. Foster Group Inc. lifted its holdings in S&P Global by 0.9% during the second quarter. Foster Group Inc. now owns 2,237 shares of the business services provider's stock valued at $1,180,000 after purchasing an additional 20 shares in the last quarter. Quent Capital LLC boosted its position in S&P Global by 1.9% during the second quarter. Quent Capital LLC now owns 1,082 shares of the business services provider's stock worth $571,000 after acquiring an additional 20 shares during the last quarter. Finally, Integrated Investment Consultants LLC raised its holdings in S&P Global by 2.8% in the 1st quarter. Integrated Investment Consultants LLC now owns 762 shares of the business services provider's stock valued at $387,000 after acquiring an additional 21 shares during the last quarter. Institutional investors own 87.17% of the company's stock.

S&P Global Trading Up 3.3%

The company has a current ratio of 0.90, a quick ratio of 0.90 and a debt-to-equity ratio of 0.34. The company has a fifty day moving average price of $519.19 and a two-hundred day moving average price of $508.18. The firm has a market capitalization of $167.69 billion, a price-to-earnings ratio of 43.17, a PEG ratio of 2.56 and a beta of 1.19.

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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