S&P Global (NYSE:SPGI) Stock Price 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.

Shares of S&P Global Inc. (NYSE:SPGI - Get Free Report) were down 4.2% during mid-day trading on Thursday . The company traded as low as $523.29 and last traded at $521.50. Approximately 830,765 shares traded hands 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

Several research analysts have recently issued reports on the company. Morgan Stanley increased their target price on S&P Global from $595.00 to $615.00 and gave the stock an "overweight" rating in a research report on Friday, August 1st. UBS Group upped their price objective on shares of S&P Global from $575.00 to $620.00 and gave the stock a "buy" rating in a report on Tuesday, July 8th. Barclays increased their target price on S&P Global from $610.00 to $620.00 and gave the stock an "overweight" rating in a research note on Thursday, July 31st. JPMorgan Chase & Co. increased 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 report on Monday, July 21st. Finally, Wells Fargo & Company lifted their target price on shares of S&P Global from $660.00 to $661.00 and gave the stock an "overweight" rating in a report on Friday. One investment analyst has rated the stock with a Strong Buy rating, thirteen have given a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of "Buy" and a consensus price target of $614.46.

S&P Global Price Performance

The company has a quick ratio of 0.98, a current ratio of 0.98 and a debt-to-equity ratio of 0.34. The stock's 50 day moving average price is $542.96 and its two-hundred day moving average price is $515.21. The stock has a market cap of $154.85 billion, a price-to-earnings ratio of 39.02, a price-to-earnings-growth ratio of 2.71 and a beta of 1.20.

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

S&P Global Announces Dividend

The company 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 dividend of $0.96 per share. This represents a $3.84 annualized dividend and a yield of 0.8%. The ex-dividend date is Tuesday, November 25th. S&P Global's payout ratio is 29.54%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SPGI. Costello Asset Management INC acquired a new stake in S&P Global in the first quarter valued at $26,000. Cheviot Value Management LLC bought a new stake in shares of S&P Global in the 1st quarter valued at approximately $26,000. Oliver Lagore Vanvalin Investment Group bought a new position in shares of S&P Global during the second quarter worth about $26,000. MTM Investment Management LLC bought a new stake in shares of S&P Global during the 2nd quarter worth about $27,000. Finally, Smallwood Wealth Investment Management LLC bought a new position in shares of S&P Global during the 1st quarter valued at about $28,000. 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.