S&P Global (NYSE:SPGI) Price Target Lowered to $617.00 at Wells Fargo & Company

S&P Global (NYSE:SPGI) had its price objective cut by Wells Fargo & Company from $620.00 to $617.00 in a report issued on Friday morning,Benzinga reports. They currently have an overweight rating on the business services provider’s stock.

A number of other research analysts have also recently issued reports on the stock. Oppenheimer dropped their target price on shares of S&P Global from $590.00 to $580.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. JPMorgan Chase & Co. reduced their price objective on S&P Global from $600.00 to $585.00 and set an “overweight” rating for the company in a report on Friday, October 25th. UBS Group upped their target price on S&P Global from $605.00 to $610.00 and gave the company a “buy” rating in a report on Friday, October 25th. Citigroup initiated coverage on S&P Global in a research note on Friday, December 20th. They set a “buy” rating and a $600.00 price target for the company. Finally, Barclays increased their price objective on shares of S&P Global from $550.00 to $610.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $583.62.

S&P Global Price Performance

Shares of SPGI opened at $483.17 on Friday. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.33. The stock’s 50 day moving average is $504.66 and its two-hundred day moving average is $499.17. S&P Global has a twelve month low of $407.69 and a twelve month high of $533.29. The firm has a market capitalization of $149.93 billion, a PE ratio of 42.65, a P/E/G ratio of 2.53 and a beta of 1.20.

S&P Global (NYSE:SPGI) last posted its quarterly earnings results on Thursday, October 24th. The business services provider reported $3.89 earnings per share for the quarter, beating analysts’ consensus estimates of $3.64 by $0.25. The firm had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.43 billion. S&P Global had a return on equity of 13.72% and a net margin of 25.80%. The company’s revenue for the quarter was up 15.9% compared to the same quarter last year. During the same period in the previous year, the business earned $3.21 earnings per share. Research analysts anticipate that S&P Global will post 15.24 earnings per share for the current year.

Hedge Funds Weigh In On S&P Global

Several hedge funds and other institutional investors have recently bought and sold shares of SPGI. Wellington Management Group LLP lifted its holdings in S&P Global by 3.4% in the 3rd quarter. Wellington Management Group LLP now owns 8,868,375 shares of the business services provider’s stock worth $4,581,580,000 after buying an additional 292,436 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of S&P Global by 1.8% in the third quarter. Geode Capital Management LLC now owns 6,473,774 shares of the business services provider’s stock worth $3,332,016,000 after acquiring an additional 113,146 shares in the last quarter. FMR LLC boosted its holdings in S&P Global by 6.6% in the third quarter. FMR LLC now owns 5,965,369 shares of the business services provider’s stock valued at $3,081,830,000 after purchasing an additional 369,598 shares during the last quarter. Legal & General Group Plc boosted its holdings in S&P Global by 1.0% in the second quarter. Legal & General Group Plc now owns 2,826,597 shares of the business services provider’s stock valued at $1,260,665,000 after purchasing an additional 29,227 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in S&P Global by 1.1% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,713,617 shares of the business services provider’s stock valued at $1,401,909,000 after purchasing an additional 28,458 shares in the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

About S&P Global

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.