Evercore ISI Initiates Coverage on S&P Global (NYSE:SPGI)

Analysts at Evercore ISI started coverage on shares of S&P Global (NYSE:SPGI) in a research note issued to investors on Wednesday, Marketbeat.com reports. The firm set an “outperform” rating and a $599.00 price target on the business services provider’s stock. Evercore ISI’s target price points to a potential upside of 16.96% from the company’s current price.

Several other analysts have also issued reports on SPGI. Royal Bank of Canada boosted their price target on shares of S&P Global from $500.00 to $552.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Bank of America upped their price target on shares of S&P Global from $530.00 to $540.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Morgan Stanley boosted their price objective on shares of S&P Global from $530.00 to $564.00 and gave the company an “overweight” rating in a research report on Thursday, September 5th. UBS Group raised their target price on S&P Global from $505.00 to $555.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. Finally, BMO Capital Markets increased their price objective on shares of S&P Global from $532.00 to $537.00 and gave the company an “outperform” rating in a research report on Wednesday, July 31st. Three analysts have rated the stock with a hold rating, ten have issued a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $552.42.

S&P Global Trading Down 0.9 %

NYSE SPGI opened at $512.15 on Wednesday. The firm has a market capitalization of $160.25 billion, a PE ratio of 57.42, a price-to-earnings-growth ratio of 2.91 and a beta of 1.17. The business’s 50-day moving average price is $503.13 and its two-hundred day moving average price is $459.73. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.33. S&P Global has a 12 month low of $340.49 and a 12 month high of $528.02.

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

Insider Activity

In other S&P Global news, insider Edouard Tavernier sold 500 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $491.55, for a total transaction of $245,775.00. Following the transaction, the insider now owns 13,217 shares of the company’s stock, valued at $6,496,816.35. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other S&P Global news, Director Robert P. Kelly sold 7,662 shares of the firm’s stock in a transaction on Wednesday, August 7th. The stock was sold at an average price of $481.28, for a total value of $3,687,567.36. Following the completion of the sale, the director now owns 15,830 shares of the company’s stock, valued at $7,618,662.40. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Edouard Tavernier sold 500 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total transaction of $245,775.00. Following the completion of the transaction, the insider now owns 13,217 shares of the company’s stock, valued at approximately $6,496,816.35. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 17,862 shares of company stock worth $8,645,727. 0.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Eagle Asset Management Inc. purchased a new position in S&P Global during the 4th quarter valued at about $228,000. Capital World Investors grew its position in shares of S&P Global by 0.5% in the fourth quarter. Capital World Investors now owns 2,818,729 shares of the business services provider’s stock valued at $1,241,706,000 after purchasing an additional 12,644 shares during the period. Oppenheimer & Co. Inc. grew its holdings in S&P Global by 8.6% in the fourth quarter. Oppenheimer & Co. Inc. now owns 4,024 shares of the business services provider’s stock valued at $1,773,000 after purchasing an additional 317 shares during the period. Cetera Advisor Networks LLC increased its holdings in shares of S&P Global by 5.6% during the 4th quarter. Cetera Advisor Networks LLC now owns 28,082 shares of the business services provider’s stock worth $12,370,000 after buying an additional 1,481 shares during the last quarter. Finally, Bollard Group LLC grew its holdings in shares of S&P Global by 5,000.0% during the 4th quarter. Bollard Group LLC now owns 1,530 shares of the business services provider’s stock worth $674,000 after purchasing an additional 1,500 shares during the period. 87.17% of the stock is currently owned by institutional investors and hedge funds.

About S&P Global

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.