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

S&P Global (NYSE:SPGI) had its target price dropped by analysts at Wells Fargo & Company from $620.00 to $617.00 in a research note issued on Friday,Benzinga reports. The firm presently has an “overweight” rating on the business services provider’s stock. Wells Fargo & Company‘s target price points to a potential upside of 24.44% from the company’s previous close.

SPGI has been the subject of several other research reports. Raymond James lowered shares of S&P Global from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Barclays boosted their price target 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. Stifel Nicolaus increased their price target on S&P Global from $540.00 to $560.00 and gave the company a “buy” rating in a report on Monday, October 28th. UBS Group boosted their price objective on shares of S&P Global from $605.00 to $610.00 and gave the company a “buy” rating in a research report on Friday, October 25th. Finally, Oppenheimer decreased their price objective on S&P Global from $590.00 to $580.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $583.62.

S&P Global Price Performance

SPGI opened at $495.82 on Friday. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.94 and a current ratio of 0.94. The stock’s 50 day moving average price is $504.66 and its 200-day moving average price is $498.90. The stock has a market capitalization of $153.85 billion, a PE ratio of 43.76, a price-to-earnings-growth ratio of 2.53 and a beta of 1.20. 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 released its quarterly earnings data 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. The company had revenue of $3.58 billion during 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%. S&P Global’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period last year, the company earned $3.21 EPS. On average, equities research analysts predict that S&P Global will post 15.24 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SPGI. Park National Corp OH lifted its holdings in shares of S&P Global by 0.7% in the 4th quarter. Park National Corp OH now owns 57,316 shares of the business services provider’s stock worth $28,545,000 after acquiring an additional 393 shares during the last quarter. Northcape Capital Pty Ltd raised its stake in S&P Global by 12.8% during the 4th quarter. Northcape Capital Pty Ltd now owns 7,068 shares of the business services provider’s stock worth $3,520,000 after acquiring an additional 801 shares in the last quarter. Bangor Savings Bank boosted its holdings in shares of S&P Global by 32.1% in the fourth quarter. Bangor Savings Bank now owns 107 shares of the business services provider’s stock valued at $53,000 after acquiring an additional 26 shares during the period. Nordea Investment Management AB boosted its stake in S&P Global by 52.0% during the 4th quarter. Nordea Investment Management AB now owns 658,766 shares of the business services provider’s stock worth $328,632,000 after purchasing an additional 225,370 shares during the period. Finally, GAMMA Investing LLC grew its holdings in shares of S&P Global by 15.5% during the fourth quarter. GAMMA Investing LLC now owns 3,502 shares of the business services provider’s stock worth $1,744,000 after buying an additional 469 shares during the last quarter. 87.17% of the stock is currently owned by hedge funds and other 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.