S&P Global (NYSE:SPGI) Given New $595.00 Price Target at Morgan Stanley

S&P Global (NYSE:SPGI) had its target price boosted by stock analysts at Morgan Stanley from $570.00 to $595.00 in a report issued on Thursday,Benzinga reports. The brokerage currently has an “overweight” rating on the business services provider’s stock. Morgan Stanley’s price objective would suggest a potential upside of 17.69% from the company’s current price.

Other equities analysts have also recently issued research reports about the company. Raymond James cut S&P Global from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Oppenheimer increased their target price on S&P Global from $540.00 to $590.00 and gave the company an “outperform” rating in a report on Thursday, October 3rd. Stifel Nicolaus increased their target price on S&P Global from $540.00 to $560.00 and gave the company a “buy” rating in a report on Monday, October 28th. BMO Capital Markets reduced their target price on S&P Global from $589.00 to $564.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Finally, Evercore ISI initiated coverage on S&P Global in a report on Wednesday, October 2nd. They set an “outperform” rating and a $599.00 target price for the company. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company. Based on data from MarketBeat.com, S&P Global presently has a consensus rating of “Moderate Buy” and an average price target of $573.23.

S&P Global Stock Performance

NYSE SPGI opened at $505.57 on Thursday. The stock has a market capitalization of $156.88 billion, a price-to-earnings ratio of 45.27, a PEG ratio of 2.64 and a beta of 1.19. S&P Global has a twelve month low of $407.69 and a twelve month high of $533.29. The company has a current ratio of 0.94, a quick ratio of 0.94 and a debt-to-equity ratio of 0.33. The stock has a 50-day moving average of $509.41 and a 200 day moving average of $489.88.

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SPGI. First National Corp MA ADV raised its stake in shares of S&P Global by 0.9% in the third quarter. First National Corp MA ADV now owns 2,344 shares of the business services provider’s stock valued at $1,211,000 after acquiring an additional 20 shares in the last quarter. Kathleen S. Wright Associates Inc. raised its stake in shares of S&P Global by 25.0% in the third quarter. Kathleen S. Wright Associates Inc. now owns 100 shares of the business services provider’s stock valued at $51,000 after acquiring an additional 20 shares in the last quarter. Trust Point Inc. raised its stake in shares of S&P Global by 1.4% in the third quarter. Trust Point Inc. now owns 1,404 shares of the business services provider’s stock valued at $725,000 after acquiring an additional 20 shares in the last quarter. Headinvest LLC raised its stake in S&P Global by 2.0% in the third quarter. Headinvest LLC now owns 997 shares of the business services provider’s stock valued at $515,000 after buying an additional 20 shares in the last quarter. Finally, EWA LLC lifted its holdings in S&P Global by 4.2% during the 3rd quarter. EWA LLC now owns 498 shares of the business services provider’s stock worth $254,000 after buying an additional 20 shares during the last quarter. 87.17% of the stock is currently owned by hedge funds and other institutional investors.

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.