S&P Global (NYSE:SPGI) Reaches New 12-Month High on Earnings Beat

Shares of S&P Global Inc. (NYSE:SPGI) reached a new 52-week high during mid-day trading on Tuesday after the company announced better than expected quarterly earnings. The stock traded as high as $542.00 and last traded at $531.59, with a volume of 260017 shares. The stock had previously closed at $515.30.

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 13.72% and a net margin of 25.80%. During the same quarter in the prior year, the firm earned $3.13 earnings per share.

S&P Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 12th. Stockholders of record on Wednesday, February 26th will be issued a $0.96 dividend. The ex-dividend date of this dividend is Wednesday, February 26th. This represents a $3.84 dividend on an annualized basis and a dividend yield of 0.72%. This is an increase from S&P Global’s previous quarterly dividend of $0.91. S&P Global’s dividend payout ratio is presently 32.13%.

Analyst Ratings Changes

SPGI has been the topic of a number of research analyst reports. StockNews.com raised shares of S&P Global from a “hold” rating to a “buy” rating in a report on Wednesday. Morgan Stanley lifted their price target on shares of S&P Global from $595.00 to $600.00 and gave the stock an “overweight” rating in a research note on Wednesday. Wells Fargo & Company boosted their price target on shares of S&P Global from $617.00 to $633.00 and gave the company an “overweight” rating in a research report on Wednesday. Oppenheimer dropped 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. Finally, UBS Group boosted their target price on S&P Global from $605.00 to $610.00 and gave the company a “buy” rating in a report on Friday, October 25th. Two research analysts have rated the stock with a hold rating and fourteen have issued a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $586.85.

Hedge Funds Weigh In On S&P Global

A number of large investors have recently bought and sold shares of the company. Northwest Investment Counselors LLC purchased a new stake in S&P Global in the 3rd quarter valued at approximately $27,000. First Personal Financial Services acquired a new stake in shares of S&P Global in the 3rd quarter valued at approximately $29,000. Human Investing LLC purchased a new stake in shares of S&P Global in the fourth quarter valued at approximately $30,000. Capital Performance Advisors LLP acquired a new position in S&P Global during the third quarter worth $31,000. Finally, Noble Wealth Management PBC acquired a new position in S&P Global during the fourth quarter worth $31,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

S&P Global Price Performance

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 company has a 50-day simple moving average of $506.13 and a 200-day simple moving average of $506.36. The stock has a market cap of $164.75 billion, a PE ratio of 46.86, a PEG ratio of 2.39 and a beta of 1.20.

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.