S&P Global (NYSE:SPGI) Hits New 12-Month High After Earnings Beat

S&P Global Inc. (NYSE:SPGI) shares reached a new 52-week high during mid-day trading on Tuesday after the company announced better than expected quarterly earnings. The company traded as high as $542.00 and last traded at $531.59, with a volume of 260017 shares traded. The stock had previously closed at $515.30.

The business services provider reported $3.77 earnings per share (EPS) for the quarter, topping the consensus estimate 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 period in the previous year, the business earned $3.13 earnings per share.

S&P Global Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 12th. Shareholders of record on Wednesday, February 26th will be issued a $0.96 dividend. This represents a $3.84 annualized dividend and a yield of 0.71%. This is a positive change from S&P Global’s previous quarterly dividend of $0.91. The ex-dividend date is Wednesday, February 26th. S&P Global’s dividend payout ratio is presently 32.13%.

Analyst Upgrades and Downgrades

SPGI has been the topic of a number of recent research reports. Morgan Stanley upped their target price on S&P Global from $570.00 to $595.00 and gave the stock an “overweight” rating in a research note on Thursday, December 12th. BMO Capital Markets lifted their target price on shares of S&P Global from $564.00 to $576.00 and gave the company an “outperform” rating in a report on Tuesday, January 21st. Wells Fargo & Company dropped their price target on shares of S&P Global from $620.00 to $617.00 and set an “overweight” rating on the stock in a research report on Friday, January 10th. Citigroup assumed coverage on shares of S&P Global in a research report on Friday, December 20th. They issued a “buy” rating and a $600.00 price objective for the company. Finally, Oppenheimer dropped their target price on S&P Global from $590.00 to $580.00 and set an “outperform” rating on the stock in a research report on Friday, January 3rd. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $584.54.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the business. Northwest Investment Counselors LLC purchased a new stake in shares of S&P Global in the third quarter valued at about $27,000. First Personal Financial Services purchased a new stake in shares of S&P Global during the 3rd quarter valued at approximately $29,000. Human Investing LLC acquired a new position in S&P Global in the fourth quarter valued at approximately $30,000. Capital Performance Advisors LLP purchased a new position in S&P Global in the third quarter worth approximately $31,000. Finally, Noble Wealth Management PBC acquired a new stake in S&P Global during the fourth quarter worth $31,000. 87.17% of the stock is owned by hedge funds and other institutional investors.

S&P Global Price Performance

The stock has a 50-day simple moving average of $505.68 and a 200 day simple moving average of $506.00. The company has a market cap of $167.81 billion, a PE ratio of 47.73, a P/E/G ratio of 2.39 and a beta of 1.20. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.33.

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.