Oppenheimer Has Lowered Expectations for S&P Global (NYSE:SPGI) Stock Price

S&P Global (NYSE:SPGI) had its price target cut by equities research analysts at Oppenheimer from $590.00 to $580.00 in a research report issued on Friday,Benzinga reports. The firm presently has an “outperform” rating on the business services provider’s stock. Oppenheimer’s target price indicates a potential upside of 16.10% from the stock’s previous close.

Several other equities research analysts also recently issued reports on SPGI. BMO Capital Markets lowered their price target on S&P Global from $589.00 to $564.00 and set an “outperform” rating on the stock in a research report on Friday, October 25th. Robert W. Baird lifted their price target on S&P Global from $536.00 to $575.00 and gave the stock an “outperform” rating in a research report on Friday, October 25th. Wells Fargo & Company upped their price target on S&P Global from $575.00 to $620.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. lowered their price objective on shares of S&P Global from $600.00 to $585.00 and set an “overweight” rating on the stock in a research note on Friday, October 25th. Finally, Barclays upped their target price on shares of S&P Global from $550.00 to $610.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $574.43.

S&P Global Stock Performance

Shares of NYSE SPGI opened at $499.57 on Friday. The business’s 50-day simple moving average is $503.92 and its 200-day simple moving average is $497.33. S&P Global has a 52 week low of $407.69 and a 52 week high of $533.29. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market cap of $155.02 billion, a price-to-earnings ratio of 44.09, a P/E/G ratio of 2.53 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 analysts’ consensus estimates 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 company had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.43 billion. During the same quarter last year, the firm posted $3.21 earnings per share. The company’s quarterly revenue was up 15.9% compared to the same quarter last year. As a group, equities research analysts expect that S&P Global will post 15.24 earnings per share for the current fiscal year.

Institutional Trading of S&P Global

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. HWG Holdings LP acquired a new stake in S&P Global during the second quarter valued at approximately $27,000. Northwest Investment Counselors LLC bought a new stake in S&P Global in the third quarter valued at $27,000. Sachetta LLC raised its stake in S&P Global by 103.4% during the second quarter. Sachetta LLC now owns 59 shares of the business services provider’s stock worth $29,000 after acquiring an additional 30 shares in the last quarter. First Personal Financial Services bought a new position in shares of S&P Global during the third quarter valued at $29,000. Finally, Capital Performance Advisors LLP acquired a new stake in shares of S&P Global in the 3rd quarter valued at $31,000. 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.