Zacks Investment Research Lowers S&P Global Inc. (NYSE:SPGI) to Hold

Zacks Investment Research lowered shares of S&P Global Inc. (NYSE:SPGI) from a buy rating to a hold rating in a research report report published on Wednesday, July 12th.

According to Zacks, “S&P Global shares have outperformed the Business Information Services industry year to date. The acquisition of SNL Financial will likely help S&P Global to avail cost cuts and revenue synergies. Moreover, it will enable global expansion on a greater scale especially within the banking and insurance sectors, while media and real estate areas emerge as new opportunities. The company’s strategic portfolio restructuring and focus on core business will continue to drive growth, going forward. However, S&P Global’s performance is likely to be hurt by lower volume of debt securities issued in the capital markets. Financial distress could either dent investor’s demand for debt securities or make issuers reluctant to issue such securities. Additionally, increase in interest rates or credit spreads may adversely affect the general level of debt issuance. Uncertainty relating to the Brexit referendum remains another headwind.”

A number of other brokerages have also commented on SPGI. Barclays PLC lifted their price target on shares of S&P Global from $150.00 to $155.00 and gave the stock an overweight rating in a research note on Wednesday, June 28th. Argus reiterated a buy rating and issued a $158.00 price target (up from $150.00) on shares of S&P Global in a research note on Monday, May 29th. Cantor Fitzgerald reiterated an overweight rating and issued a $153.00 price target (up from $139.00) on shares of S&P Global in a research note on Wednesday, April 26th. Finally, Raymond James Financial, Inc. upgraded shares of S&P Global from a market perform rating to an outperform rating and set a $143.00 price target for the company in a research note on Monday, April 17th. One investment analyst has rated the stock with a hold rating and ten have given a buy rating to the stock. The stock has an average rating of Buy and an average target price of $153.82.

S&P Global (NYSE SPGI) traded down 1.77% on Wednesday, reaching $148.28. 1,996,619 shares of the company traded hands. The company has a market capitalization of $38.11 billion, a PE ratio of 17.28 and a beta of 1.52. The stock’s 50 day moving average price is $149.67 and its 200 day moving average price is $136.21. S&P Global has a one year low of $107.21 and a one year high of $158.35.

S&P Global (NYSE:SPGI) last announced its quarterly earnings results on Thursday, July 27th. The business services provider reported $1.72 EPS for the quarter, topping analysts’ consensus estimates of $1.57 by $0.15. S&P Global had a net margin of 38.78% and a return on equity of 202.37%. The firm had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.46 billion. During the same period in the previous year, the business posted $1.44 earnings per share. The business’s revenue for the quarter was up 1.8% on a year-over-year basis. On average, equities research analysts predict that S&P Global will post $6.34 EPS for the current fiscal year.

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The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Monday, August 28th will be issued a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a dividend yield of 1.11%. The ex-dividend date of this dividend is Thursday, August 24th. S&P Global’s payout ratio is 19.16%.

In other news, Director Marco Alvera purchased 400 shares of the stock in a transaction on Tuesday, May 30th. The shares were acquired at an average price of $140.09 per share, with a total value of $56,036.00. Following the completion of the acquisition, the director now directly owns 400 shares of the company’s stock, valued at $56,036. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. 0.20% of the stock is owned by insiders.

A number of institutional investors have recently modified their holdings of SPGI. Advisory Services Network LLC purchased a new position in shares of S&P Global during the first quarter valued at $101,000. American Beacon Advisors Inc. purchased a new position in shares of S&P Global during the first quarter valued at $103,000. Penserra Capital Management LLC purchased a new position in shares of S&P Global during the second quarter valued at $106,000. State of Alaska Department of Revenue purchased a new position in shares of S&P Global during the first quarter valued at $125,000. Finally, Guardian Life Insurance Co. of America increased its position in shares of S&P Global by 1.0% in the first quarter. Guardian Life Insurance Co. of America now owns 999 shares of the business services provider’s stock valued at $131,000 after buying an additional 10 shares in the last quarter. 85.62% of the stock is currently owned by institutional investors and hedge funds.

About S&P Global

S&P Global Inc, formerly McGraw Hill Financial Inc, is a provider of ratings, benchmarks, analytics and data to the capital and commodity markets around the world. The Company operates through three segments: Ratings, which provides credit ratings, research and analytics to investors, issuers and other market participants; Market and Commodities Intelligence, which offers multi-asset-class data, research and analytical capabilities that integrate cross-asset analytics and desktop services, and deliver their customers in the commodity and energy markets access to information, data, analytic services and pricing and benchmarks, and S&P Dow Jones Indices (Indices), which is an index provider that maintains a range of valuation and index benchmarks for investment advisors, wealth managers and institutional investors.

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