Oppenheimer Increases S&P Global (NYSE:SPGI) Price Target to $590.00

S&P Global (NYSE:SPGI) had its price objective upped by equities researchers at Oppenheimer from $540.00 to $590.00 in a report issued on Thursday, Benzinga reports. The brokerage currently has an “outperform” rating on the business services provider’s stock. Oppenheimer’s price target points to a potential upside of 15.20% from the stock’s current price.

A number of other research analysts also recently commented on the company. Morgan Stanley upped their price objective on S&P Global from $530.00 to $564.00 and gave the stock an “overweight” rating in a research note on Thursday, September 5th. Wells Fargo & Company raised shares of S&P Global to a “strong-buy” rating in a report on Tuesday, August 13th. BMO Capital Markets boosted their target price on shares of S&P Global from $532.00 to $537.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Barclays upped their target price on shares of S&P Global from $550.00 to $610.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. Finally, Royal Bank of Canada boosted their price objective on S&P Global from $500.00 to $552.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Three equities research analysts have rated the stock with a hold rating, ten have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $556.58.

S&P Global Trading Down 0.5 %

S&P Global stock opened at $512.17 on Thursday. S&P Global has a 1 year low of $340.49 and a 1 year high of $528.02. The firm’s 50-day moving average is $504.86 and its 200-day moving average is $461.12. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.03 and a current ratio of 1.03. The company has a market cap of $160.26 billion, a P/E ratio of 57.42, a PEG ratio of 2.91 and a beta of 1.18.

S&P Global (NYSE:SPGI) last issued its earnings results on Tuesday, July 30th. The business services provider reported $4.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.67 by $0.37. The firm had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.42 billion. S&P Global had a net margin of 25.03% and a return on equity of 13.03%. S&P Global’s revenue was up 14.4% on a year-over-year basis. During the same quarter last year, the company posted $3.12 earnings per share. On average, equities analysts expect that S&P Global will post 14.57 earnings per share for the current year.

Insider Activity

In other S&P Global news, insider Edouard Tavernier sold 500 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total value of $245,775.00. Following the sale, the insider now directly owns 13,217 shares in the company, valued at approximately $6,496,816.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other S&P Global news, insider Edouard Tavernier sold 500 shares of S&P Global stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total value of $245,775.00. Following the transaction, the insider now owns 13,217 shares in the company, valued at approximately $6,496,816.35. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, EVP Steven J. Kemps sold 2,700 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total value of $1,327,185.00. Following the completion of the transaction, the executive vice president now directly owns 1,455 shares in the company, valued at $715,205.25. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,862 shares of company stock worth $8,645,727 over the last 90 days. 0.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On S&P Global

A number of hedge funds and other institutional investors have recently modified their holdings of SPGI. Sapient Capital LLC grew its holdings in shares of S&P Global by 2.5% during the second quarter. Sapient Capital LLC now owns 863 shares of the business services provider’s stock valued at $385,000 after buying an additional 21 shares in the last quarter. Chatham Capital Group Inc. lifted its position in S&P Global by 0.5% in the 2nd quarter. Chatham Capital Group Inc. now owns 4,501 shares of the business services provider’s stock worth $2,007,000 after buying an additional 21 shares in the last quarter. Kampmann Melissa S. boosted its stake in shares of S&P Global by 0.3% during the 2nd quarter. Kampmann Melissa S. now owns 8,284 shares of the business services provider’s stock valued at $3,695,000 after buying an additional 21 shares during the period. D.B. Root & Company LLC grew its holdings in shares of S&P Global by 2.4% during the 2nd quarter. D.B. Root & Company LLC now owns 955 shares of the business services provider’s stock valued at $426,000 after acquiring an additional 22 shares in the last quarter. Finally, Modera Wealth Management LLC increased its stake in shares of S&P Global by 2.3% in the second quarter. Modera Wealth Management LLC now owns 960 shares of the business services provider’s stock worth $428,000 after acquiring an additional 22 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

S&P Global Company Profile

S&P Global Inc, together with its subsidiaries, provides credit ratings, benchmarks, analytics, and workflow solutions in the global capital, commodity, and automotive markets. It operates through S&P Global Market Intelligence, S&P Global Ratings, S&P Global Commodity Insights, S&P Global Mobility, S&P Dow Jones Indices, and S&P Global Engineering Solutions segments.