Wells Fargo & Company Cuts S&P Global (NYSE:SPGI) Price Target to $617.00

S&P Global (NYSE:SPGI) had its target price lowered by Wells Fargo & Company from $620.00 to $617.00 in a report released on Friday morning,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the business services provider’s stock.

A number of other research analysts also recently issued reports on SPGI. Raymond James downgraded shares of S&P Global from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Robert W. Baird lifted their price target on shares of S&P Global from $536.00 to $575.00 and gave the stock an “outperform” rating in a report on Friday, October 25th. JPMorgan Chase & Co. decreased their price objective on S&P Global from $600.00 to $585.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Stifel Nicolaus boosted their target price on S&P Global from $540.00 to $560.00 and gave the stock a “buy” rating in a research note on Monday, October 28th. Finally, BMO Capital Markets reduced their target price 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. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $583.62.

S&P Global Stock Down 2.6 %

S&P Global stock opened at $483.17 on Friday. 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 firm has a market cap of $149.93 billion, a P/E ratio of 42.65, a P/E/G ratio of 2.53 and a beta of 1.20. The business has a fifty day moving average of $504.66 and a two-hundred day moving average of $499.88. S&P Global has a twelve month low of $407.69 and a twelve month high of $533.29.

S&P Global (NYSE:SPGI) last issued its quarterly earnings data 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. S&P Global had a return on equity of 13.72% and a net margin of 25.80%. The firm had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.43 billion. During the same period in the prior year, the business posted $3.21 EPS. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. On average, analysts forecast that S&P Global will post 15.24 earnings per share for the current fiscal year.

Institutional Investors Weigh In On S&P Global

A number of institutional investors and hedge funds have recently modified their holdings of SPGI. Nordea Investment Management AB raised its position in S&P Global by 52.0% during the 4th quarter. Nordea Investment Management AB now owns 658,766 shares of the business services provider’s stock worth $328,632,000 after buying an additional 225,370 shares during the last quarter. GDS Wealth Management increased its stake in shares of S&P Global by 7.0% in the third quarter. GDS Wealth Management now owns 27,358 shares of the business services provider’s stock worth $14,134,000 after acquiring an additional 1,801 shares during the period. Sanctuary Advisors LLC raised its holdings in shares of S&P Global by 12.6% during the third quarter. Sanctuary Advisors LLC now owns 27,598 shares of the business services provider’s stock worth $14,198,000 after purchasing an additional 3,093 shares during the last quarter. Oddo BHF Asset Management Sas acquired a new position in S&P Global during the third quarter valued at $27,170,000. Finally, Pinnacle Financial Partners Inc boosted its holdings in S&P Global by 3.9% in the third quarter. Pinnacle Financial Partners Inc now owns 47,705 shares of the business services provider’s stock valued at $24,645,000 after purchasing an additional 1,806 shares during the last quarter. Institutional investors and hedge funds own 87.17% of the company’s stock.

S&P Global Company Profile

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.