Short Interest in S&P Global Inc. (NYSE:SPGI) Drops By 16.0%

S&P Global Inc. (NYSE:SPGI) was the target of a large decline in short interest in the month of December. As of December 31st, there was short interest totalling 2,790,000 shares, a decline of 16.0% from the December 15th total of 3,320,000 shares. Based on an average daily trading volume, of 1,220,000 shares, the short-interest ratio is currently 2.3 days.

S&P Global Price Performance

Shares of SPGI traded down $3.46 during midday trading on Friday, reaching $501.70. The stock had a trading volume of 1,723,897 shares, compared to its average volume of 1,055,581. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.94 and a quick ratio of 0.94. The company has a market capitalization of $155.68 billion, a P/E ratio of 44.28, a P/E/G ratio of 2.22 and a beta of 1.20. The firm’s 50 day moving average price is $504.75 and its 200-day moving average price is $500.78. S&P Global has a 52 week low of $407.69 and a 52 week high of $533.29.

S&P Global (NYSE:SPGI) last issued its quarterly earnings results on Thursday, October 24th. The business services provider reported $3.89 EPS for the quarter, topping the consensus estimate of $3.64 by $0.25. S&P Global had a net margin of 25.80% and a return on equity of 13.72%. The firm had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.43 billion. During the same period in the previous year, the business earned $3.21 earnings per share. S&P Global’s revenue for the quarter was up 15.9% compared to the same quarter last year. On average, analysts forecast that S&P Global will post 15.25 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on SPGI shares. Robert W. Baird increased their target price on S&P Global from $536.00 to $575.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Stifel Nicolaus increased their price objective on shares of S&P Global from $540.00 to $560.00 and gave the stock a “buy” rating in a report on Monday, October 28th. Evercore ISI assumed coverage on shares of S&P Global in a research note on Wednesday, October 2nd. They set an “outperform” rating and a $599.00 target price for the company. BMO Capital Markets dropped their price target on shares of S&P Global from $589.00 to $564.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Finally, JPMorgan Chase & Co. cut their price target on S&P Global from $600.00 to $585.00 and set an “overweight” rating on the stock in a report on Friday, October 25th. Two research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, S&P Global currently has an average rating of “Moderate Buy” and a consensus price target of $583.62.

Institutional Investors Weigh In On S&P Global

Several large investors have recently modified their holdings of SPGI. HWG Holdings LP purchased a new stake in shares of S&P Global during the second quarter valued at $27,000. Northwest Investment Counselors LLC acquired a new position in shares of S&P Global in the third quarter worth about $27,000. First Personal Financial Services purchased a new position in shares of S&P Global in the third quarter worth approximately $29,000. Capital Performance Advisors LLP acquired a new stake in shares of S&P Global during the third quarter valued at approximately $31,000. Finally, Voisard Asset Management Group Inc. boosted its stake in S&P Global by 77.1% in the 3rd quarter. Voisard Asset Management Group Inc. now owns 62 shares of the business services provider’s stock worth $32,000 after purchasing an additional 27 shares during the period. 87.17% of the stock is owned by institutional investors.

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.