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

S&P Global (NYSE:SPGI) had its target price decreased by analysts at Wells Fargo & Company from $620.00 to $617.00 in a report issued on Friday,Benzinga reports. The firm currently has an “overweight” rating on the business services provider’s stock. Wells Fargo & Company‘s price objective suggests a potential upside of 24.44% from the company’s current price.

Several other research firms have also commented on SPGI. BMO Capital Markets decreased their price target on shares of S&P Global from $589.00 to $564.00 and set an “outperform” rating for the company in a report on Friday, October 25th. Citigroup started coverage on S&P Global in a report on Friday, December 20th. They set a “buy” rating and a $600.00 target price for the company. Morgan Stanley raised their price target on S&P Global from $570.00 to $595.00 and gave the stock an “overweight” rating in a report on Thursday, December 12th. Raymond James downgraded S&P Global from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Finally, JPMorgan Chase & Co. reduced their price target on shares of S&P Global from $600.00 to $585.00 and set an “overweight” rating for the company in a report on Friday, October 25th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $583.62.

S&P Global Stock Performance

NYSE SPGI opened at $495.82 on Friday. The firm has a market capitalization of $153.85 billion, a P/E ratio of 43.76, a P/E/G ratio of 2.53 and a beta of 1.20. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.94 and a quick ratio of 0.94. S&P Global has a 1-year low of $407.69 and a 1-year high of $533.29. The business’s 50-day simple moving average is $504.66 and its 200-day simple moving average is $498.90.

S&P Global (NYSE:SPGI) last posted its quarterly earnings data on Thursday, October 24th. The business services provider reported $3.89 earnings per share (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. The business’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter last year, the firm posted $3.21 earnings per share. Equities analysts predict that S&P Global will post 15.24 EPS for the current year.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of SPGI. International Assets Investment Management LLC increased its position in shares of S&P Global by 174,815.4% in the 3rd quarter. International Assets Investment Management LLC now owns 467,024 shares of the business services provider’s stock valued at $241,274,000 after buying an additional 466,757 shares in the last quarter. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of S&P Global during the 3rd quarter valued at about $224,976,000. FMR LLC grew its position in shares of S&P Global by 6.6% in the 3rd quarter. FMR LLC now owns 5,965,369 shares of the business services provider’s stock valued at $3,081,830,000 after purchasing an additional 369,598 shares during the period. Ameriprise Financial Inc. boosted its stake in shares of S&P Global by 13.5% during the 2nd quarter. Ameriprise Financial Inc. now owns 2,516,811 shares of the business services provider’s stock worth $1,115,697,000 after buying an additional 298,645 shares during the last quarter. Finally, Wellington Management Group LLP increased its position in shares of S&P Global by 3.4% in the third quarter. Wellington Management Group LLP now owns 8,868,375 shares of the business services provider’s stock valued at $4,581,580,000 after acquiring an additional 292,436 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

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.