Oppenheimer Has Lowered Expectations for S&P Global (NYSE:SPGI) Stock Price

S&P Global (NYSE:SPGI) had its target price reduced by equities research analysts at Oppenheimer from $590.00 to $580.00 in a report released on Friday,Benzinga reports. The brokerage presently has an “outperform” rating on the business services provider’s stock. Oppenheimer’s price target suggests a potential upside of 16.10% from the company’s current price.

SPGI has been the topic of several other research reports. Evercore ISI assumed coverage on S&P Global in a research note on Wednesday, October 2nd. They set an “outperform” rating and a $599.00 price target on the stock. Morgan Stanley increased their target price on S&P Global from $570.00 to $595.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. Wells Fargo & Company raised their target price on S&P Global from $575.00 to $620.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Raymond James downgraded shares of S&P Global from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Finally, Stifel Nicolaus boosted their price objective on shares of S&P Global from $540.00 to $560.00 and gave the company a “buy” rating in a report on Monday, October 28th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $574.43.

S&P Global Trading Up 0.8 %

SPGI opened at $499.57 on Friday. S&P Global has a 1-year low of $407.69 and a 1-year high of $533.29. The firm has a 50-day moving average price of $503.92 and a two-hundred day moving average price of $497.33. The stock has a market capitalization of $155.02 billion, a PE ratio of 44.09, a PEG ratio of 2.53 and a beta of 1.20. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.33.

S&P Global (NYSE:SPGI) last issued its quarterly earnings results on Thursday, October 24th. The business services provider reported $3.89 earnings per share for the quarter, beating 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 business had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.43 billion. During the same quarter last year, the business posted $3.21 earnings per share. S&P Global’s revenue for the quarter was up 15.9% compared to the same quarter last year. As a group, equities analysts anticipate that S&P Global will post 15.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On S&P Global

Several institutional investors have recently added to or reduced their stakes in SPGI. HWG Holdings LP bought a new position in S&P Global during the 2nd quarter worth about $27,000. Northwest Investment Counselors LLC acquired a new stake in S&P Global in the 3rd quarter valued at approximately $27,000. Sachetta LLC raised its position in S&P Global by 103.4% in the 2nd quarter. Sachetta LLC now owns 59 shares of the business services provider’s stock valued at $29,000 after buying an additional 30 shares during the last quarter. First Personal Financial Services bought a new stake in S&P Global in the 3rd quarter valued at approximately $29,000. Finally, Capital Performance Advisors LLP acquired a new position in S&P Global during the 3rd quarter worth approximately $31,000. 87.17% of the stock is owned by institutional investors.

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.