S&P Global (NYSE:SPGI) Shares Gap Down Following Weak Earnings

S&P Global Inc. (NYSE:SPGIGet Free Report) shares gapped down prior to trading on Thursday following a weaker than expected earnings announcement. The stock had previously closed at $459.72, but opened at $431.80. S&P Global shares last traded at $424.03, with a volume of 242,331 shares.

The business services provider reported $3.13 EPS for the quarter, missing the consensus estimate of $3.15 by ($0.02). S&P Global had a return on equity of 11.34% and a net margin of 21.02%. The firm had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the previous year, the firm earned $2.54 EPS. The business’s revenue was up 7.3% on a year-over-year basis.

S&P Global Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 12th. Investors of record on Tuesday, February 27th will be given a dividend of $0.91 per share. The ex-dividend date of this dividend is Monday, February 26th. This is an increase from S&P Global’s previous quarterly dividend of $0.90. This represents a $3.64 annualized dividend and a yield of 0.83%. S&P Global’s payout ratio is 43.74%.

Analyst Ratings Changes

Several equities analysts recently weighed in on the company. Raymond James lifted their target price on S&P Global from $422.00 to $452.00 and gave the company an “outperform” rating in a research report on Tuesday, January 9th. Royal Bank of Canada reiterated an “outperform” rating and set a $500.00 target price on shares of S&P Global in a research report on Friday. Finally, TheStreet upgraded S&P Global from a “c+” rating to a “b-” rating in a research report on Monday, November 27th. One investment analyst has rated the stock with a hold rating and ten have assigned a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $440.56.

Check Out Our Latest Analysis on SPGI

Insider Activity

In other news, CEO Douglas L. Peterson sold 6,000 shares of the business’s stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $405.28, for a total value of $2,431,680.00. Following the transaction, the chief executive officer now directly owns 163,613 shares in the company, valued at $66,309,076.64. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On S&P Global

Hedge funds have recently made changes to their positions in the company. D.B. Root & Company LLC grew its position in S&P Global by 3.6% during the 4th quarter. D.B. Root & Company LLC now owns 662 shares of the business services provider’s stock worth $292,000 after purchasing an additional 23 shares during the period. Mayflower Financial Advisors LLC grew its position in S&P Global by 3.3% during the 4th quarter. Mayflower Financial Advisors LLC now owns 714 shares of the business services provider’s stock worth $315,000 after purchasing an additional 23 shares during the period. Allworth Financial LP grew its position in S&P Global by 1.8% during the 4th quarter. Allworth Financial LP now owns 1,356 shares of the business services provider’s stock worth $598,000 after purchasing an additional 24 shares during the period. Oakworth Capital Inc. grew its position in S&P Global by 31.2% during the 4th quarter. Oakworth Capital Inc. now owns 101 shares of the business services provider’s stock worth $44,000 after purchasing an additional 24 shares during the period. Finally, Independence Bank of Kentucky grew its position in S&P Global by 1.7% during the 4th quarter. Independence Bank of Kentucky now owns 1,487 shares of the business services provider’s stock worth $655,000 after purchasing an additional 25 shares during the period. 85.50% of the stock is currently owned by hedge funds and other institutional investors.

S&P Global Price Performance

The firm has a 50-day simple moving average of $437.61 and a two-hundred day simple moving average of $402.73. The company has a market capitalization of $138.72 billion, a price-to-earnings ratio of 53.21, a P/E/G ratio of 2.40 and a beta of 1.18. The company has a current ratio of 0.84, a quick ratio of 0.92 and a debt-to-equity ratio of 0.33.

About S&P Global

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S&P Global Inc, together with its subsidiaries, provides credit ratings, benchmarks, analytics, and workflow solutions in the global capital, commodity, and automotive markets. It operates through six segments: S&P Global Ratings, S&P Dow Jones Indices, S&P Global Commodity Insights, S&P Global Market Intelligence, S&P Global Mobility, and S&P Global Engineering Solutions.

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