S&P Global (NYSE:SPGI) Price Target Raised to $600.00

S&P Global (NYSE:SPGI) had its price objective boosted by Morgan Stanley from $595.00 to $600.00 in a research note issued on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the business services provider’s stock. Morgan Stanley’s price target points to a potential upside of 13.19% from the stock’s previous close.

Other analysts have also recently issued reports about the company. Wells Fargo & Company upped their price target on S&P Global from $617.00 to $633.00 and gave the company an “overweight” rating in a research report on Wednesday. Robert W. Baird upped their price target on S&P Global from $536.00 to $575.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Citigroup started coverage on S&P Global in a report on Friday, December 20th. They set a “buy” rating and a $600.00 target price on the stock. Evercore ISI raised their target price on S&P Global from $599.00 to $608.00 and gave the company an “outperform” rating in a research note on Wednesday. Finally, Oppenheimer lowered their target price on S&P Global from $590.00 to $580.00 and set an “outperform” rating for the company in a research note on Friday, January 3rd. Two research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, S&P Global has an average rating of “Moderate Buy” and an average target price of $586.85.

S&P Global Stock Performance

Shares of SPGI traded down $10.43 on Wednesday, reaching $530.09. 536,075 shares of the stock traded hands, compared to its average volume of 1,308,511. The firm has a market cap of $164.49 billion, a price-to-earnings ratio of 46.79, a P/E/G ratio of 2.39 and a beta of 1.20. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.94 and a quick ratio of 0.94. S&P Global has a 12 month low of $407.69 and a 12 month high of $542.00. The stock’s 50-day moving average price is $506.13 and its 200-day moving average price is $506.36.

S&P Global (NYSE:SPGI) last released its quarterly earnings data on Tuesday, February 11th. The business services provider reported $3.77 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.41 by $0.36. S&P Global had a return on equity of 13.72% and a net margin of 25.80%. During the same quarter in the previous year, the firm earned $3.13 EPS. Equities analysts forecast that S&P Global will post 15.34 EPS for the current fiscal year.

Hedge Funds Weigh In On S&P Global

Several institutional investors have recently modified their holdings of SPGI. Norges Bank acquired a new position in shares of S&P Global during the 4th quarter worth about $1,725,084,000. Raymond James Financial Inc. bought a new position in shares of S&P Global during the 4th quarter valued at about $527,207,000. Proficio Capital Partners LLC lifted its holdings in shares of S&P Global by 71,024.1% during the 4th quarter. Proficio Capital Partners LLC now owns 619,491 shares of the business services provider’s stock valued at $308,525,000 after purchasing an additional 618,620 shares in the last quarter. International Assets Investment Management LLC lifted its holdings in shares of S&P Global by 174,815.4% during the 3rd quarter. International Assets Investment Management LLC now owns 467,024 shares of the business services provider’s stock valued at $241,274,000 after purchasing an additional 466,757 shares in the last quarter. Finally, B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of S&P Global during the 3rd quarter valued at about $224,976,000. 87.17% of the stock is currently 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.