Wells Fargo & Company Cuts S&P Global (NYSE:SPGI) Price Target to $617.00

S&P Global (NYSE:SPGI - Get Free Report) had its price objective cut by equities research analysts at Wells Fargo & Company from $620.00 to $617.00 in a report released on Friday,Benzinga reports. The firm currently has an "overweight" rating on the business services provider's stock. Wells Fargo & Company's target price indicates a potential upside of 27.70% from the stock's current price.

Several other brokerages also recently commented on SPGI. Stifel Nicolaus upped 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. Barclays upped their price objective on shares of S&P Global from $550.00 to $610.00 and gave the company an "overweight" rating in a research report on Friday, September 13th. BMO Capital Markets reduced their target price on S&P Global from $589.00 to $564.00 and set an "outperform" rating on the stock in a report on Friday, October 25th. JPMorgan Chase & Co. lowered their price target on S&P Global from $600.00 to $585.00 and set an "overweight" rating for the company in a report on Friday, October 25th. Finally, Oppenheimer cut their price objective on S&P Global from $590.00 to $580.00 and set an "outperform" rating on the stock in a report on Friday, January 3rd. Two equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $583.62.

S&P Global Trading Down 2.6 %

Shares of SPGI stock traded down $12.69 during trading hours on Friday, reaching $483.17. The company had a trading volume of 1,183,882 shares, compared to its average volume of 1,293,159. S&P Global has a 1-year low of $407.69 and a 1-year high of $533.29. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.94 and a quick ratio of 0.94. The firm has a market cap of $149.93 billion, a price-to-earnings ratio of 42.65, a P/E/G ratio of 2.53 and a beta of 1.20. The company has a 50 day moving average of $504.66 and a 200 day moving average of $499.17.

S&P Global (NYSE:SPGI - Get Free Report) last released its earnings results on Thursday, October 24th. The business services provider reported $3.89 earnings per share for the quarter, beating the consensus estimate of $3.64 by $0.25. The firm had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.43 billion. S&P Global had a return on equity of 13.72% and a net margin of 25.80%. The company's quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted $3.21 earnings per share. On average, equities research analysts anticipate that S&P Global will post 15.24 EPS for the current year.

Hedge Funds Weigh In On S&P Global

A number of large investors have recently modified their holdings of the business. Nordea Investment Management AB increased its holdings in S&P Global by 52.0% during the fourth quarter. Nordea Investment Management AB now owns 658,766 shares of the business services provider's stock worth $328,632,000 after buying an additional 225,370 shares during the last quarter. GDS Wealth Management grew its position in shares of S&P Global by 7.0% in the 3rd quarter. GDS Wealth Management now owns 27,358 shares of the business services provider's stock valued at $14,134,000 after acquiring an additional 1,801 shares during the period. Sanctuary Advisors LLC increased its stake in shares of S&P Global by 12.6% during the 3rd quarter. Sanctuary Advisors LLC now owns 27,598 shares of the business services provider's stock worth $14,198,000 after purchasing an additional 3,093 shares during the last quarter. Oddo BHF Asset Management Sas bought a new stake in shares of S&P Global in the 3rd quarter valued at about $27,170,000. Finally, Pinnacle Financial Partners Inc lifted its stake in S&P Global by 3.9% in the 3rd quarter. Pinnacle Financial Partners Inc now owns 47,705 shares of the business services provider's stock valued at $24,645,000 after purchasing an additional 1,806 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.