Stocks

Wells Fargo Lowers Price Target for S&P Global Stock

Published January 12, 2025

On January 12th, 2025, analysts at Wells Fargo & Company issued a report indicating a decrease in their target price for S&P Global (NYSE:SPGI) stock, bringing it down from $620.00 to $617.00. The report, which was shared with clients and investors, maintains an “overweight” rating on the stock of this business services provider. The new price target implies a possible upside of 27.70% from S&P Global's previous closing price.

In addition to Wells Fargo's assessment, S&P Global has been the subject of various other analysts' reviews. For instance, BMO Capital Markets revised their price target from $589.00 to $564.00 while maintaining an “outperform” rating for the stock. Similarly, Stifel Nicolaus increased their target price from $540.00 to $560.00, also labeling it as a “buy.” Evercore ISI initiated coverage on S&P Global with a price target of $599.00 and an “outperform” rating. Meanwhile, Oppenheimer lowered their price target from $590.00 to $580.00 but kept their “outperform” recommendation intact.

Furthermore, Morgan Stanley raised their target price from $570.00 to $595.00 with an “overweight” rating. In total, there have been two analysts providing a hold rating while thirteen analysts assigned a buy rating to S&P Global. According to MarketBeat.com, the stock currently holds an average rating of “Moderate Buy” and an average target price of $583.62.

S&P Global Stock Performance

As of Friday, S&P Global shares opened at $483.17. The company showcases a debt-to-equity ratio of 0.33 and both a quick ratio and current ratio of 0.94. The stock has experienced a 52-week low of $407.69 and a high of $533.29. Average moving figures indicate a fifty-day moving average of $504.66 and a 200-day average of $499.52. S&P Global's market capitalization stands at $149.93 billion, with a price-to-earnings ratio of 42.65 and a price-to-earnings-growth ratio of 2.53, complemented by a beta of 1.20.

Most recently, S&P Global announced its quarterly earnings on October 24th, revealing earnings per share (EPS) of $3.89, surpassing analysts' expectations of $3.64 by $0.25. The revenue for the quarter reached $3.58 billion, exceeding the predicted $3.43 billion. The company recorded a net margin of 25.80% and a return on equity of 13.72%. Year-over-year, revenues increased by 15.9%, in contrast to the $3.21 EPS posted in the same quarter last year. Analysts project S&P Global to deliver an EPS of 15.24 for the ongoing year.

Institutional Investor Activity

Recently, several institutional investors have adjusted their stakes in S&P Global. For example, Northwest Investment Counselors LLC invested approximately $27,000 in the third quarter, while First Personal Financial Services made a similar move of about $29,000. Capital Performance Advisors LLP acquired a new stake worth around $31,000, and HWG Holdings LP also entered into a new position, valued at roughly $27,000 during the second quarter. Additionally, Voisard Asset Management Group Inc. escalated their position by 77.1%, now owning 62 shares valued at $32,000 after acquiring more during the third quarter. Notably, institutional investors control 87.17% of S&P Global's stock.

About S&P Global

S&P Global, Inc. is dedicated to providing transparent, independent ratings, benchmarks, analytics, and data to capital and commodity markets across the globe. The company operates through different segments including Market Intelligence, Ratings, Commodity Insights, Mobility, Indices, and Engineering Solutions.

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