S&P Global (NYSE:SPGI) Trading Down 4.2% - Here's What Happened

Key Points

• S&P Global Inc. (NYSE:SPGI) saw its stock price decline by 4.2% to $521.50, with trading volume dropping 34% below the average.
• Multiple brokerages have raised their price targets for S&P Global, with Citigroup setting a new target of $635.00 and an overall average rating of "Buy" with a target price of $614.38.
• The company reported a quarterly earnings increase, with $4.43 earnings per share, exceeding estimates, and announced a quarterly dividend of $0.96 per share.

S&P Global Inc. (NYSE:SPGI - Get Free Report)'s stock price was down 4.2% during trading on Thursday . The stock traded as low as $523.29 and last traded at $521.50. Approximately 830,765 shares were traded during mid-day trading, a decline of 34% from the average daily volume of 1,250,298 shares. The stock had previously closed at $544.10.

Analysts Set New Price Targets

A number of brokerages recently commented on SPGI. Citigroup boosted their target price on shares of S&P Global from $600.00 to $635.00 and gave the stock a "buy" rating in a research note on Monday. Morgan Stanley boosted their target price on shares of S&P Global from $595.00 to $615.00 and gave the stock an "overweight" rating in a research note on Friday, August 1st. Barclays upped their price objective on shares of S&P Global from $610.00 to $620.00 and gave the company an "overweight" rating in a research note on Thursday, July 31st. BMO Capital Markets upped their price objective on shares of S&P Global from $604.00 to $621.00 and gave the company an "outperform" rating in a research note on Friday, August 1st. Finally, JPMorgan Chase & Co. upped their price objective on shares of S&P Global from $575.00 to $625.00 and gave the company an "overweight" rating in a research note on Monday, July 21st. One equities research analyst has rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the company currently has an average rating of "Buy" and an average target price of $614.38.

S&P Global Trading Down 6.9%

The company has a market cap of $154.72 billion, a PE ratio of 38.99, a price-to-earnings-growth ratio of 2.90 and a beta of 1.20. The business has a 50 day simple moving average of $543.78 and a two-hundred day simple moving average of $515.46. 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 issued 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. The company had revenue of $3.76 billion for the quarter, compared to analyst estimates of $3.65 billion. S&P Global had a return on equity of 15.11% and a net margin of 27.30%.The business's revenue for the quarter was up 5.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $4.04 EPS. S&P Global has set its FY 2025 guidance at 17.000-17.250 EPS. On average, analysts forecast that S&P Global Inc. will post 17.11 EPS for the current fiscal year.

S&P Global Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 10th. Shareholders of record on Tuesday, November 25th will be issued a $0.96 dividend. This represents a $3.84 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Tuesday, November 25th. S&P Global's dividend payout ratio (DPR) is 29.54%.

Hedge Funds Weigh In On S&P Global

Hedge funds have recently made changes to their positions in the stock. Divergent Planning LLC acquired a new position in shares of S&P Global in the 2nd quarter valued at $303,000. GAMMA Investing LLC boosted its position in S&P Global by 20.2% during the 1st quarter. GAMMA Investing LLC now owns 4,210 shares of the business services provider's stock worth $2,139,000 after purchasing an additional 708 shares during the period. E Fund Management Co. Ltd. boosted its position in S&P Global by 59.7% during the 1st quarter. E Fund Management Co. Ltd. now owns 2,909 shares of the business services provider's stock worth $1,478,000 after purchasing an additional 1,088 shares during the period. Caxton Associates LLP purchased a new stake in S&P Global during the 1st quarter worth $386,000. Finally, United Services Automobile Association purchased a new stake in S&P Global during the 1st quarter worth $3,692,000. Institutional investors and hedge funds own 87.17% of the company's stock.

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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