JPMorgan Chase & Co. Increases S&P Global (NYSE:SPGI) Price Target to $565.00

S&P Global (NYSE:SPGI) had its price target upped by equities researchers at JPMorgan Chase & Co. from $550.00 to $565.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an “overweight” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s target price indicates a potential upside of 16.36% from the stock’s current price.

Other research analysts have also issued research reports about the stock. Stifel Nicolaus upped their price target on shares of S&P Global from $535.00 to $540.00 and gave the company a “buy” rating in a research note on Wednesday. Royal Bank of Canada upped their price objective on shares of S&P Global from $500.00 to $552.00 and gave the company an “outperform” rating in a report on Wednesday. UBS Group upped their price objective on shares of S&P Global from $505.00 to $555.00 and gave the company a “buy” rating in a report on Tuesday, July 9th. Bank of America upped their price objective on shares of S&P Global from $530.00 to $540.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Finally, Erste Group Bank reaffirmed a “hold” rating on shares of S&P Global in a report on Wednesday, April 3rd. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, S&P Global presently has an average rating of “Moderate Buy” and an average target price of $524.00.

S&P Global Stock Down 0.6 %

Shares of NYSE:SPGI traded down $2.93 during trading hours on Wednesday, hitting $485.58. The company’s stock had a trading volume of 832,265 shares, compared to its average volume of 1,257,056. S&P Global has a 52 week low of $340.49 and a 52 week high of $502.95. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.92 and a quick ratio of 0.92. The company has a market capitalization of $151.94 billion, a price-to-earnings ratio of 54.39, a P/E/G ratio of 2.77 and a beta of 1.16. The firm’s fifty day moving average price is $452.72 and its 200 day moving average price is $437.76.

S&P Global (NYSE:SPGI) last posted its quarterly earnings results on Tuesday, July 30th. The business services provider reported $4.04 EPS for the quarter, beating the consensus estimate of $3.67 by $0.37. The business had revenue of $3.55 billion during the quarter, compared to analyst estimates of $3.42 billion. S&P Global had a net margin of 22.01% and a return on equity of 12.20%. The company’s quarterly revenue was up 14.4% compared to the same quarter last year. During the same quarter in the previous year, the business posted $3.12 EPS. As a group, research analysts expect that S&P Global will post 14.3 EPS for the current year.

Hedge Funds Weigh In On S&P Global

A number of large investors have recently added to or reduced their stakes in the stock. Norges Bank acquired a new stake in shares of S&P Global in the fourth quarter valued at about $1,652,862,000. Swedbank AB acquired a new stake in shares of S&P Global in the first quarter valued at about $351,774,000. Capital International Investors raised its position in shares of S&P Global by 12.6% in the fourth quarter. Capital International Investors now owns 5,502,039 shares of the business services provider’s stock valued at $2,423,762,000 after buying an additional 616,732 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of S&P Global by 352.2% in the second quarter. Assenagon Asset Management S.A. now owns 463,383 shares of the business services provider’s stock valued at $206,669,000 after buying an additional 360,909 shares during the last quarter. Finally, Third Point LLC acquired a new stake in S&P Global during the first quarter worth about $142,526,000. 87.17% of the stock is currently 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.