S&P Global (NYSE:SPGI) Given New $510.00 Price Target at Morgan Stanley

S&P Global (NYSE:SPGI) had its target price upped by equities research analysts at Morgan Stanley from $500.00 to $510.00 in a report issued on Friday, Benzinga reports. The firm currently has an “overweight” rating on the business services provider’s stock. Morgan Stanley’s target price indicates a potential upside of 13.47% from the company’s current price.

SPGI has been the subject of several other reports. Royal Bank of Canada reiterated an “outperform” rating and set a $500.00 price objective on shares of S&P Global in a report on Friday, June 21st. Stifel Nicolaus increased their price objective on S&P Global from $442.00 to $446.00 and gave the stock a “buy” rating in a report on Friday, April 26th. Barclays increased their price objective on S&P Global from $500.00 to $520.00 and gave the stock an “overweight” rating in a report on Tuesday, April 2nd. BMO Capital Markets increased their price objective on S&P Global from $480.00 to $483.00 and gave the stock an “outperform” rating in a report on Monday, April 1st. Finally, Oppenheimer increased their price objective on S&P Global from $482.00 to $486.00 and gave the stock an “outperform” rating in a report on Monday. Two research analysts have rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat, S&P Global currently has an average rating of “Moderate Buy” and a consensus price target of $477.89.

S&P Global Price Performance

SPGI opened at $449.44 on Friday. The stock has a fifty day moving average of $434.19 and a 200-day moving average of $432.13. The firm has a market capitalization of $140.63 billion, a P/E ratio of 50.39, a PEG ratio of 2.50 and a beta of 1.16. S&P Global has a 12-month low of $340.49 and a 12-month high of $461.16. The company has a quick ratio of 0.92, a current ratio of 0.92 and a debt-to-equity ratio of 0.33.

S&P Global (NYSE:SPGI) last released its earnings results on Thursday, April 25th. The business services provider reported $4.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.68 by $0.33. The company had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.39 billion. S&P Global had a return on equity of 12.20% and a net margin of 22.01%. Equities analysts forecast that S&P Global will post 14.12 EPS for the current fiscal year.

Institutional Investors Weigh In On S&P Global

Hedge funds and other institutional investors have recently made changes to their positions in the business. Private Wealth Management Group LLC acquired a new stake in shares of S&P Global in the fourth quarter valued at about $26,000. Pineridge Advisors LLC bought a new stake in shares of S&P Global in the fourth quarter valued at about $26,000. Valued Wealth Advisors LLC bought a new stake in shares of S&P Global in the fourth quarter valued at about $28,000. Oliver Lagore Vanvalin Investment Group lifted its stake in shares of S&P Global by 64.1% in the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 64 shares of the business services provider’s stock valued at $28,000 after buying an additional 25 shares during the period. Finally, Fortis Group Advisors LLC bought a new stake in shares of S&P Global in the third quarter valued at about $33,000. 87.17% of the stock is owned by institutional investors and hedge funds.

S&P Global Company Profile

S&P Global Inc, together with its subsidiaries, provides credit ratings, benchmarks, analytics, and workflow solutions in the global capital, commodity, and automotive markets. It operates through S&P Global Market Intelligence, S&P Global Ratings, S&P Global Commodity Insights, S&P Global Mobility, S&P Dow Jones Indices, and S&P Global Engineering Solutions segments.