Wells Fargo Lowers Price Target for S&P Global to $617.00

S&P Global (NYSE:SPGI) recently experienced a decrease in its price target from analysts at Wells Fargo & Company, who revised it from $620.00 down to $617.00. This information was shared in a research note released on Friday. Despite this adjustment, Wells Fargo maintains an "overweight" rating on the stock, suggesting that they believe it could outperform the market. This new target translates to a potential upside of about 24.44% based on the stock's last closing price.

In addition to Wells Fargo's update, S&P Global has been evaluated by other research firms as well. For instance, on September 23, Raymond James downgraded the company from an "outperform" to a "market perform" rating. Conversely, Barclays raised their target price from $550.00 to $610.00 and kept an "overweight" rating on the stock as of September 13. Moreover, on October 28, Stifel Nicolaus raised its target from $540.00 to $560.00 with a “buy” recommendation. UBS Group also increased its price objective to $610.00 on October 25. Lastly, Oppenheimer lowered its target price from $590.00 to $580.00 but still rated the stock as "outperform." Overall, two analysts have suggested holding the stock, while thirteen have issued buy ratings. MarketBeat.com indicates that S&P Global currently has a consensus rating of "Moderate Buy" with an average target price of $583.62.

S&P Global Stock Performance Overview

On Friday, S&P Global opened at $495.82. The company has a debt-to-equity ratio of 0.33, alongside a quick ratio and current ratio, both standing at 0.94. The stock's 50-day moving average is $504.66, while the 200-day moving average is $498.90. With a market capitalization of approximately $153.85 billion, S&P Global exhibits a PE ratio of 43.76 and a price-to-earnings-growth ratio of 2.53. Historical performance indicates a 52-week low of $407.69 and a high of $533.29.

Recent Earnings and Financial Position

S&P Global announced its quarterly earnings on October 24. The company reported earnings per share (EPS) of $3.89, beating the consensus estimate of $3.64 by $0.25. Their revenue for the quarter stood at $3.58 billion, exceeding the forecast of $3.43 billion. This represented a 15.9% increase year-over-year, with a return on equity of 13.72% and a net margin of 25.80%. Analysts predict a total EPS of 15.24 for the current fiscal year.

Institutional Investment Trends

Several institutional investors have recently adjusted their positions in S&P Global. Park National Corp OH increased its holdings by 0.7% during the fourth quarter, now owning 57,316 shares. Northcape Capital Pty Ltd raised its stake by 12.8%, resulting in 7,068 shares owned. Additionally, Bangor Savings Bank boosted its holdings by 32.1% to own 107 shares. Nordea Investment Management AB increased its stake significantly by 52.0%, now holding 658,766 shares. GAMMA Investing LLC also raised its ownership by 15.5%. Currently, approximately 87.17% of S&P Global's stock is held by public and institutional investors.

Company Profile

S&P Global, Inc. provides transparent and independent ratings, benchmarks, analytics, and data to global capital and commodity markets. Its operations span various segments, including Market Intelligence, Ratings, Commodity Insights, Mobility, Indices, and Engineering Solutions.

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