Wells Fargo & Company Issues Pessimistic Forecast for S&P Global (NYSE:SPGI) Stock Price

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

SPGI has been the topic of a number of other reports. BMO Capital Markets decreased their price target on S&P Global from $589.00 to $564.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. Stifel Nicolaus lifted their target price on shares of S&P Global from $540.00 to $560.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Evercore ISI started coverage on shares of S&P Global in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $599.00 price target for the company. Oppenheimer cut their price target on shares of S&P Global from $590.00 to $580.00 and set an “outperform” rating on the stock in a report on Friday, January 3rd. Finally, Morgan Stanley upped their price objective on shares of S&P Global from $570.00 to $595.00 and gave the company an “overweight” rating in a research note on Thursday, December 12th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $583.62.

S&P Global Price Performance

Shares of S&P Global stock opened at $483.17 on Friday. 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 has a 52-week low of $407.69 and a 52-week high of $533.29. The company has a fifty day moving average of $504.66 and a 200-day moving average of $499.52. The stock has a market capitalization of $149.93 billion, a price-to-earnings ratio of 42.65, a price-to-earnings-growth ratio of 2.53 and a beta of 1.20.

S&P Global (NYSE:SPGI) last posted its quarterly earnings results on Thursday, October 24th. The business services provider reported $3.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.64 by $0.25. The business had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.43 billion. S&P Global had a net margin of 25.80% and a return on equity of 13.72%. The company’s revenue was up 15.9% on a year-over-year basis. During the same period in the prior year, the business posted $3.21 earnings per share. Equities research analysts expect that S&P Global will post 15.24 EPS for the current year.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the company. Northwest Investment Counselors LLC bought a new stake in shares of S&P Global during the third quarter valued at approximately $27,000. First Personal Financial Services bought a new stake in shares of S&P Global during the 3rd quarter valued at $29,000. Capital Performance Advisors LLP purchased a new stake in shares of S&P Global in the 3rd quarter worth about $31,000. HWG Holdings LP bought a new position in shares of S&P Global in the 2nd quarter worth about $27,000. Finally, Voisard Asset Management Group Inc. lifted its position in S&P Global by 77.1% during the 3rd quarter. Voisard Asset Management Group Inc. now owns 62 shares of the business services provider’s stock valued at $32,000 after acquiring an additional 27 shares during the period. Institutional investors own 87.17% of the company’s stock.

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.