S&P Global (NYSE:SPGI) Reaches New 52-Week High After Strong Earnings

S&P Global Inc. (NYSE:SPGI)’s share price hit a new 52-week high on Tuesday following a stronger than expected earnings report. The stock traded as high as $542.00 and last traded at $531.59, with a volume of 260017 shares changing hands. The stock had previously closed at $515.30.

The business services provider reported $3.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.41 by $0.36. S&P Global had a net margin of 25.80% and a return on equity of 13.72%. During the same period last year, the business earned $3.13 EPS.

S&P Global Increases Dividend

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

Wall Street Analyst Weigh In

SPGI has been the subject of a number of analyst reports. Oppenheimer reduced their price objective on shares of S&P Global from $590.00 to $580.00 and set an “outperform” rating for the company in a report on Friday, January 3rd. Robert W. Baird increased their price objective on S&P Global from $536.00 to $575.00 and gave the stock an “outperform” rating in a research note on Friday, October 25th. Citigroup assumed coverage on S&P Global in a research report on Friday, December 20th. They set a “buy” rating and a $600.00 target price on the stock. Wells Fargo & Company lowered their price target on S&P Global from $620.00 to $617.00 and set an “overweight” rating for the company in a research report on Friday, January 10th. Finally, UBS Group boosted their target price on S&P Global from $605.00 to $610.00 and gave the stock a “buy” rating in a research note 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 company. According to MarketBeat, S&P Global has a consensus rating of “Moderate Buy” and an average price target of $584.54.

Hedge Funds Weigh In On S&P Global

Several hedge funds and other institutional investors have recently modified their holdings of SPGI. iA Global Asset Management Inc. boosted its stake in S&P Global by 12.9% during the fourth quarter. iA Global Asset Management Inc. now owns 73,171 shares of the business services provider’s stock worth $36,441,000 after acquiring an additional 8,352 shares in the last quarter. Teacher Retirement System of Texas lifted its holdings in shares of S&P Global by 37.1% during the fourth quarter. Teacher Retirement System of Texas now owns 185,554 shares of the business services provider’s stock valued at $92,411,000 after purchasing an additional 50,165 shares during the last quarter. Sandy Spring Bank grew its stake in shares of S&P Global by 18.1% in the 4th quarter. Sandy Spring Bank now owns 13,615 shares of the business services provider’s stock worth $6,781,000 after buying an additional 2,089 shares during the last quarter. Royal London Asset Management Ltd. boosted its position in shares of S&P Global by 4.3% during the fourth quarter. Royal London Asset Management Ltd. now owns 166,438 shares of the business services provider’s stock valued at $82,891,000 after buying an additional 6,825 shares during the last quarter. Finally, Next Capital Management LLC bought a new stake in S&P Global in the 4th quarter worth about $236,000. Hedge funds and other institutional investors own 87.17% of the company’s stock.

S&P Global Trading Up 3.0 %

The stock has a 50-day simple moving average of $505.68 and a two-hundred day simple moving average of $506.00. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.94 and a current ratio of 0.94. The firm has a market cap of $164.63 billion, a PE ratio of 46.77, a price-to-earnings-growth 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.