S&P Global (NYSE:SPGI) Price Target Lowered to $564.00 at BMO Capital Markets

26 Oct 2024, 19:42 by Michael Walen · The Markets Daily

S&P Global (NYSE:SPGI – Free Report) had its price target decreased by BMO Capital Markets from $589.00 to $564.00 in a research note published on Friday morning, Benzinga reports. BMO Capital Markets currently has an outperform rating on the business services provider’s stock.

Other equities analysts have also recently issued reports about the company. Evercore ISI began coverage on S&P Global in a report on Wednesday, October 2nd. They issued an “outperform” rating and a $599.00 target price on the stock. Morgan Stanley upped their price target on S&P Global from $564.00 to $570.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. UBS Group increased their price target on S&P Global from $505.00 to $555.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. Oppenheimer upped their target price on shares of S&P Global from $540.00 to $590.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Finally, Wells Fargo & Company raised their price target on shares of S&P Global from $575.00 to $620.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $569.77.

View Our Latest Research Report on S&P Global

S&P Global Stock Down 0.5 %

NYSE SPGI traded down $2.60 on Friday, hitting $490.61. 984,517 shares of the company were exchanged, compared to its average volume of 1,198,610. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.33. The company has a market cap of $153.56 billion, a PE ratio of 46.50, a PEG ratio of 2.76 and a beta of 1.18. The stock has a fifty day moving average of $513.83 and a 200-day moving average of $470.17. S&P Global has a 12 month low of $340.49 and a 12 month high of $533.29.

S&P Global (NYSE:SPGI – Get Free Report) last released its quarterly earnings data on Thursday, October 24th. The business services provider reported $3.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.64 by $0.25. The company had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.43 billion. S&P Global had a net margin of 25.03% and a return on equity of 13.03%. The business’s revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $3.21 EPS. As a group, analysts forecast that S&P Global will post 14.79 earnings per share for the current year.

S&P Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Tuesday, November 26th will be paid a $0.91 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $3.64 annualized dividend and a dividend yield of 0.74%. S&P Global’s payout ratio is 34.50%.

Insider Activity at S&P Global

In related news, CEO Douglas L. Peterson sold 7,000 shares of S&P Global stock in a transaction that occurred on Friday, August 2nd. The shares were sold at an average price of $483.60, for a total value of $3,385,200.00. Following the completion of the transaction, the chief executive officer now directly owns 154,912 shares in the company, valued at approximately $74,915,443.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other news, Director Robert P. Kelly sold 7,662 shares of the firm’s stock in a transaction that occurred on Wednesday, August 7th. The shares were sold at an average price of $481.28, for a total value of $3,687,567.36. Following the completion of the transaction, the director now directly owns 15,830 shares in the company, valued at approximately $7,618,662.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Douglas L. Peterson sold 7,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $483.60, for a total transaction of $3,385,200.00. Following the sale, the chief executive officer now directly owns 154,912 shares in the company, valued at $74,915,443.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 17,862 shares of company stock worth $8,645,727. 0.10% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. HWG Holdings LP bought a new position in shares of S&P Global in the second quarter worth approximately $27,000. Northwest Investment Counselors LLC purchased a new stake in shares of S&P Global during the 3rd quarter valued at $27,000. Sachetta LLC raised its position in shares of S&P Global by 103.4% during the 2nd quarter. Sachetta LLC now owns 59 shares of the business services provider’s stock valued at $29,000 after buying an additional 30 shares in the last quarter. Hobbs Group Advisors LLC bought a new stake in shares of S&P Global during the 2nd quarter worth $31,000. Finally, Voisard Asset Management Group Inc. grew its position in S&P Global by 77.1% in the third quarter. Voisard Asset Management Group Inc. now owns 62 shares of the business services provider’s stock worth $32,000 after acquiring an additional 27 shares in the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

S&P Global Company Profile

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