Wells Fargo & Company Has Lowered Expectations for S&P Global (NYSE:SPGI) Stock Price

S&P Global (NYSE:SPGI) had its price objective trimmed by Wells Fargo & Company from $620.00 to $617.00 in a research note issued to investors on Friday morning,Benzinga reports. The firm currently has an overweight rating on the business services provider’s stock.

A number of other equities research analysts have also recently issued reports on the company. Barclays raised their target price on S&P Global from $550.00 to $610.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Stifel Nicolaus boosted their target price on shares of S&P Global from $540.00 to $560.00 and gave the company a “buy” rating in a research note on Monday, October 28th. BMO Capital Markets dropped their price target on shares of S&P Global from $589.00 to $564.00 and set an “outperform” rating on the stock in a research note on Friday, October 25th. UBS Group boosted their price objective on S&P Global from $605.00 to $610.00 and gave the stock a “buy” rating in a research report on Friday, October 25th. Finally, Oppenheimer cut their target price on S&P Global from $590.00 to $580.00 and set an “outperform” rating on the stock in a research note on Friday, January 3rd. Two research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, S&P Global currently has a consensus rating of “Moderate Buy” and a consensus price target of $583.62.

S&P Global Stock Down 2.6 %

Shares of S&P Global stock opened at $483.17 on Friday. The business has a 50-day moving average price of $504.66 and a 200 day moving average price of $499.17. S&P Global has a fifty-two week low of $407.69 and a fifty-two week high of $533.29. 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 company has a quick ratio of 0.94, a current ratio of 0.94 and a debt-to-equity ratio of 0.33.

S&P Global (NYSE:SPGI) last issued its 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. The company had revenue of $3.58 billion during the quarter, compared to the consensus estimate 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 period in the previous year, the firm posted $3.21 earnings per share. On average, sell-side analysts forecast that S&P Global will post 15.24 earnings per share for the current fiscal year.

Hedge Funds Weigh In On S&P Global

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. First National Corp MA ADV lifted its holdings 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 purchasing an additional 20 shares in the last quarter. Kathleen S. Wright Associates Inc. raised its position in S&P Global by 25.0% during the third quarter. Kathleen S. Wright Associates Inc. now owns 100 shares of the business services provider’s stock valued at $51,000 after buying an additional 20 shares during the period. Trust Point Inc. lifted its stake in S&P Global by 1.4% in the 3rd quarter. Trust Point Inc. now owns 1,404 shares of the business services provider’s stock worth $725,000 after acquiring an additional 20 shares in the last quarter. Headinvest LLC boosted its position in S&P Global by 2.0% during the 3rd quarter. Headinvest LLC now owns 997 shares of the business services provider’s stock worth $515,000 after acquiring an additional 20 shares during the period. Finally, EWA LLC grew its stake in S&P Global by 4.2% during the 3rd quarter. EWA LLC now owns 498 shares of the business services provider’s stock valued at $254,000 after acquiring an additional 20 shares in the last quarter. Institutional investors and hedge funds 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.