BMO Capital Markets Forecasts Strong Price Appreciation for S&P Global (NYSE:SPGI) Stock

S&P Global (NYSE:SPGI) had its price target lifted by BMO Capital Markets from $576.00 to $590.00 in a research report issued on Thursday,Benzinga reports. The firm currently has an “outperform” rating on the business services provider’s stock. BMO Capital Markets’ price objective indicates a potential upside of 9.31% from the stock’s previous close.

SPGI has been the topic of several other reports. Morgan Stanley upped their price target on shares of S&P Global from $595.00 to $600.00 and gave the company an “overweight” rating in a research note on Wednesday. Wells Fargo & Company upped their price target on shares of S&P Global from $617.00 to $633.00 and gave the company an “overweight” rating in a research note on Wednesday. Citigroup began coverage on shares of S&P Global in a research note on Friday, December 20th. They issued a “buy” rating and a $600.00 price target on the stock. Robert W. Baird upped their price target on shares of S&P Global from $536.00 to $575.00 and gave the company an “outperform” rating in a research note on Friday, October 25th. Finally, 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. Two investment analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to data from MarketBeat.com, S&P Global currently has an average rating of “Moderate Buy” and a consensus price target of $587.92.

S&P Global Price Performance

NYSE:SPGI opened at $539.77 on Thursday. S&P Global has a one year low of $407.69 and a one year high of $545.39. The company has a market cap of $166.14 billion, a P/E ratio of 47.64, a P/E/G ratio of 2.39 and a beta of 1.20. The firm’s fifty day moving average price is $506.92 and its two-hundred day moving average price is $506.78. 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 (NYSE:SPGI) last released its quarterly earnings data on Tuesday, February 11th. The business services provider reported $3.77 EPS for the quarter, beating the consensus estimate of $3.41 by $0.36. S&P Global had a net margin of 25.80% and a return on equity of 13.72%. During the same period in the prior year, the company earned $3.13 EPS. Equities analysts expect that S&P Global will post 15.34 earnings per share for the current year.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Nordea Investment Management AB lifted its holdings in shares of S&P Global by 52.0% in the fourth quarter. Nordea Investment Management AB now owns 658,766 shares of the business services provider’s stock worth $328,632,000 after acquiring an additional 225,370 shares during the last quarter. GDS Wealth Management lifted its holdings in shares of S&P Global by 7.0% in the third quarter. GDS Wealth Management now owns 27,358 shares of the business services provider’s stock worth $14,134,000 after acquiring an additional 1,801 shares during the last quarter. Sanctuary Advisors LLC lifted its holdings in shares of S&P Global by 12.6% in the third quarter. Sanctuary Advisors LLC now owns 27,598 shares of the business services provider’s stock worth $14,198,000 after acquiring an additional 3,093 shares during the last quarter. Eastern Bank raised its holdings in S&P Global by 3.1% in the 4th quarter. Eastern Bank now owns 50,157 shares of the business services provider’s stock valued at $24,980,000 after buying an additional 1,530 shares during the last quarter. Finally, Oddo BHF Asset Management Sas bought a new position in S&P Global in the 3rd quarter valued at approximately $27,170,000. 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.