Raymond James Increases S&P Global (NYSE:SPGI) Price Target to $246.00

S&P Global (NYSE:SPGI) had its target price lifted by Raymond James from $226.00 to $246.00 in a report issued on Wednesday morning, The Fly reports. The brokerage currently has an outperform rating on the business services provider’s stock.

Several other brokerages have also recently commented on SPGI. JPMorgan Chase & Co. set a GBX 3,200 ($41.81) price target on Diageo and gave the company a neutral rating in a research report on Wednesday. Piper Jaffray Companies set a $16.00 price target on WPX Energy and gave the company a buy rating in a research report on Friday, April 5th. UBS Group increased their price target on Willis Towers Watson from $202.00 to $220.00 and gave the company a buy rating in a research report on Wednesday. Morgan Stanley increased their price target on Williams-Sonoma from $52.00 to $56.00 and gave the company an underweight rating in a research report on Wednesday. Finally, Zacks Investment Research cut GALP ENERGIA SG/ADR from a hold rating to a sell rating in a research report on Monday, May 6th. Five equities research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company. The company has an average rating of Buy and an average price target of $225.55.

Shares of NYSE SPGI opened at $241.26 on Wednesday. The company’s 50 day moving average is $225.73. S&P Global has a 52 week low of $156.68 and a 52 week high of $241.29. The company has a quick ratio of 1.20, a current ratio of 1.20 and a debt-to-equity ratio of 11.03. The firm has a market capitalization of $58.70 billion, a PE ratio of 28.38, a PEG ratio of 1.91 and a beta of 1.08.

S&P Global (NYSE:SPGI) last issued its quarterly earnings results on Thursday, May 2nd. The business services provider reported $2.11 EPS for the quarter, missing the consensus estimate of $2.12 by ($0.01). S&P Global had a net margin of 29.99% and a return on equity of 325.28%. The company had revenue of $1.57 billion for the quarter, compared to analyst estimates of $1.60 billion. During the same period last year, the company posted $2.00 earnings per share. The business’s revenue for the quarter was up .3% on a year-over-year basis. As a group, sell-side analysts forecast that S&P Global will post 9.03 earnings per share for the current fiscal year.

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Tuesday, August 27th will be given a $0.57 dividend. The ex-dividend date of this dividend is Monday, August 26th. This represents a $2.28 dividend on an annualized basis and a dividend yield of 0.95%. S&P Global’s payout ratio is 26.82%.

In other news, SVP Nancy Luquette sold 2,200 shares of the stock in a transaction that occurred on Tuesday, May 7th. The stock was sold at an average price of $216.85, for a total transaction of $477,070.00. Following the transaction, the senior vice president now owns 2,340 shares in the company, valued at $507,429. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Ewout L. Steenbergen sold 8,000 shares of the stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $215.59, for a total value of $1,724,720.00. Following the transaction, the chief financial officer now owns 15,694 shares in the company, valued at approximately $3,383,469.46. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 21,312 shares of company stock valued at $4,593,028. Insiders own 0.20% of the company’s stock.

Hedge funds and other institutional investors have recently made changes to their positions in the company. Meridian Wealth Management LLC acquired a new stake in S&P Global in the first quarter valued at approximately $26,000. Harvest Group Wealth Management LLC acquired a new stake in S&P Global in the first quarter valued at approximately $28,000. Sontag Advisory LLC acquired a new stake in S&P Global in the fourth quarter valued at approximately $31,000. Kistler Tiffany Companies LLC grew its position in shares of S&P Global by 220.0% during the first quarter. Kistler Tiffany Companies LLC now owns 160 shares of the business services provider’s stock worth $34,000 after buying an additional 110 shares in the last quarter. Finally, Berman Capital Advisors LLC grew its position in shares of S&P Global by 59.6% during the first quarter. Berman Capital Advisors LLC now owns 166 shares of the business services provider’s stock worth $34,000 after buying an additional 62 shares in the last quarter. Institutional investors own 82.77% of the company’s stock.

S&P Global Company Profile

S&P Global Inc, together with its subsidiaries, provides ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. The company operates through four segments: S&P Global Ratings (Ratings), S&P Global Market Intelligence (Market Intelligence), S&P Global Platts (Platts), and S&P Dow Jones Indices (Indices).

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Analyst Recommendations for S&P Global (NYSE:SPGI)

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