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

S&P Global (NYSE:SPGI) had its price objective dropped by research analysts at Wells Fargo & Company from $620.00 to $617.00 in a research report issued on Friday,Benzinga reports. The brokerage currently has an “overweight” rating on the business services provider’s stock. Wells Fargo & Company‘s price objective would suggest a potential upside of 27.70% from the company’s current price.

Several other equities research analysts have also weighed in on SPGI. Robert W. Baird lifted their price objective on S&P Global from $536.00 to $575.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. Raymond James downgraded shares of S&P Global from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. UBS Group upped their price target on shares of S&P Global from $605.00 to $610.00 and gave the company a “buy” rating in a research note on Friday, October 25th. Evercore ISI began coverage on shares of S&P Global in a research note on Wednesday, October 2nd. They issued an “outperform” rating and a $599.00 price objective for the company. Finally, Citigroup assumed coverage on S&P Global in a research report on Friday, December 20th. They set a “buy” rating and a $600.00 target price on the stock. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $583.62.

S&P Global Stock Performance

Shares of SPGI stock opened at $483.17 on Friday. S&P Global has a 52 week low of $407.69 and a 52 week high of $533.29. The firm’s 50-day simple moving average is $504.66 and its two-hundred day simple moving average is $499.52. The firm has a market cap of $149.93 billion, a price-to-earnings ratio of 42.65, a P/E/G ratio of 2.53 and a beta of 1.20. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.94 and a current ratio of 0.94.

S&P Global (NYSE:SPGI) last posted its quarterly earnings results on Thursday, October 24th. The business services provider reported $3.89 EPS for the quarter, topping analysts’ consensus estimates 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 company had revenue of $3.58 billion for the quarter, compared to analysts’ expectations of $3.43 billion. During the same quarter in the previous year, the firm posted $3.21 EPS. S&P Global’s revenue was up 15.9% on a year-over-year basis. As a group, equities analysts forecast that S&P Global will post 15.24 earnings per share for the current year.

Institutional Trading of S&P Global

Large investors have recently modified their holdings of the business. International Assets Investment Management LLC raised its stake in S&P Global by 174,815.4% in the third 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. B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of S&P Global during the 3rd quarter valued at $224,976,000. FMR LLC raised its position in shares of S&P Global by 6.6% during the 3rd quarter. FMR LLC now owns 5,965,369 shares of the business services provider’s stock valued at $3,081,830,000 after buying an additional 369,598 shares in the last quarter. Ameriprise Financial Inc. lifted its holdings in shares of S&P Global by 13.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,516,811 shares of the business services provider’s stock worth $1,115,697,000 after acquiring an additional 298,645 shares during the last quarter. Finally, Wellington Management Group LLP grew its position in S&P Global by 3.4% in the third quarter. Wellington Management Group LLP now owns 8,868,375 shares of the business services provider’s stock worth $4,581,580,000 after acquiring an additional 292,436 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

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.