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

S&P Global (NYSE:SPGI) had its price objective lifted by equities research analysts at BMO Capital Markets from $564.00 to $576.00 in a report issued on Tuesday,Benzinga reports. The brokerage presently has an “outperform” rating on the business services provider’s stock. BMO Capital Markets’ price target indicates a potential upside of 12.80% from the company’s previous close.

Other research analysts also recently issued reports about the stock. Robert W. Baird upped their target price on shares of S&P Global from $536.00 to $575.00 and gave the company an “outperform” rating in a research report on Friday, October 25th. Evercore ISI initiated coverage on shares of S&P Global in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $599.00 target price for the company. UBS Group raised their price target on S&P Global from $605.00 to $610.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Oppenheimer dropped their price objective on S&P Global from $590.00 to $580.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Finally, Raymond James cut S&P Global from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $584.54.

S&P Global Stock Up 0.1 %

Shares of NYSE SPGI opened at $510.64 on Tuesday. S&P Global has a 12-month low of $407.69 and a 12-month high of $533.29. The firm’s 50-day simple moving average is $504.76 and its 200 day simple moving average is $502.26. The company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.33. The company has a market cap of $158.45 billion, a price-to-earnings ratio of 45.07, a price-to-earnings-growth ratio of 2.32 and a beta of 1.20.

S&P Global (NYSE:SPGI) last released its quarterly earnings results on Thursday, October 24th. The business services provider reported $3.89 EPS for the quarter, beating the consensus estimate 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 for the quarter, compared to analysts’ expectations of $3.43 billion. During the same period in the prior year, the firm earned $3.21 earnings per share. S&P Global’s revenue was up 15.9% compared to the same quarter last year. On average, research analysts expect that S&P Global will post 15.3 earnings per share for the current fiscal year.

Institutional Trading of S&P Global

Several hedge funds have recently bought and sold shares of the stock. Northwest Investment Counselors LLC bought a new stake in S&P Global in the 3rd quarter valued at $27,000. First Personal Financial Services bought a new stake in shares of S&P Global in the third quarter valued at about $29,000. Capital Performance Advisors LLP bought a new stake in shares of S&P Global in the third quarter valued at about $31,000. HWG Holdings LP acquired a new position in shares of S&P Global during the second quarter worth about $27,000. Finally, Voisard Asset Management Group Inc. grew its holdings in shares of S&P Global by 77.1% during the third quarter. Voisard Asset Management Group Inc. now owns 62 shares of the business services provider’s stock worth $32,000 after buying an additional 27 shares in the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

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.