S&P Global (NYSE:SPGI) Price Target Cut to $565.00 by Analysts at JPMorgan Chase & Co.

S&P Global (NYSE:SPGI) had its price objective reduced by equities researchers at JPMorgan Chase & Co. from $618.00 to $565.00 in a research report issued to clients and investors on Wednesday,Benzinga reports. The firm presently has an “overweight” rating on the business services provider’s stock. JPMorgan Chase & Co.‘s price objective suggests a potential upside of 20.44% from the company’s previous close.

Several other equities analysts also recently commented on SPGI. Bank of America started coverage on shares of S&P Global in a research note on Thursday, April 10th. They issued a “buy” rating and a $600.00 price objective for the company. Evercore ISI lifted their target price on S&P Global from $599.00 to $608.00 and gave the company an “outperform” rating in a research report on Wednesday, February 12th. StockNews.com cut shares of S&P Global from a “buy” rating to a “hold” rating in a research report on Thursday, February 20th. BMO Capital Markets boosted their price target on shares of S&P Global from $576.00 to $590.00 and gave the stock an “outperform” rating in a report on Thursday, February 13th. Finally, Citigroup began coverage on S&P Global in a research note on Friday, December 20th. They issued a “buy” rating and a $600.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and fourteen have given a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $593.71.

S&P Global Price Performance

Shares of NYSE:SPGI traded down $1.61 on Wednesday, hitting $469.10. The stock had a trading volume of 197,906 shares, compared to its average volume of 1,237,703. The firm’s 50 day moving average price is $503.02 and its 200-day moving average price is $505.60. The company has a debt-to-equity ratio of 0.34, a quick ratio of 0.85 and a current ratio of 0.85. The company has a market capitalization of $147.22 billion, a price-to-earnings ratio of 37.98, a price-to-earnings-growth ratio of 2.41 and a beta of 1.26. S&P Global has a twelve month low of $407.69 and a twelve month high of $545.39.

S&P Global (NYSE:SPGI) last released its quarterly earnings results on Tuesday, February 11th. The business services provider reported $3.77 EPS for the quarter, topping analysts’ consensus estimates of $3.41 by $0.36. S&P Global had a return on equity of 14.33% and a net margin of 27.12%. During the same quarter last year, the company earned $3.13 EPS. On average, equities research analysts predict that S&P Global will post 17.11 earnings per share for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in SPGI. Norges Bank acquired a new position in S&P Global during the 4th quarter worth $1,725,084,000. GAMMA Investing LLC grew its stake in shares of S&P Global by 60,982.3% during the 1st quarter. GAMMA Investing LLC now owns 2,139,101 shares of the business services provider’s stock worth $1,086,877,000 after purchasing an additional 2,135,599 shares during the period. Raymond James Financial Inc. purchased a new stake in shares of S&P Global during the 4th quarter worth approximately $527,207,000. Proficio Capital Partners LLC grew its position in shares of S&P Global by 71,024.1% in the fourth quarter. Proficio Capital Partners LLC now owns 619,491 shares of the business services provider’s stock valued at $308,525,000 after purchasing an additional 618,620 shares during the last quarter. Finally, Northern Trust Corp raised its stake in S&P Global by 19.1% in the 4th quarter. Northern Trust Corp now owns 3,276,043 shares of the business services provider’s stock valued at $1,631,568,000 after purchasing an additional 525,347 shares during the last quarter. 87.17% of the stock is currently owned by institutional investors and hedge funds.

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.