Credit Suisse analyst Kevin Mcveigh maintained a Buy rating on S&P Global (SPGI) on July 31 and set a price target of $400.00. The company’s shares closed last Monday at $344.07, close to its 52-week high of $360.00.
According to TipRanks.com, Mcveigh is a 4-star analyst with an average return of 4.9% and a 59.4% success rate. Mcveigh covers the Services sector, focusing on stocks such as Emerald Expositions Events, Heidrick & Struggles, and Target Hospitality.
The word on The Street in general, suggests a Strong Buy analyst consensus rating for S&P Global with a $383.27 average price target, representing an 11.1% upside. In a report issued on July 28, Oppenheimer also assigned a Buy rating to the stock with a $396.00 price target.
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Based on S&P Global’s latest earnings release for the quarter ending June 30, the company reported a quarterly revenue of $1.94 billion and net profit of $792 million. In comparison, last year the company earned revenue of $1.7 billion and had a net profit of $555 million.
Based on the recent corporate insider activity of 59 insiders, corporate insider sentiment is negative on the stock. This means that over the past quarter there has been an increase of insiders selling their shares of SPGI in relation to earlier this year.
TipRanks has tracked 36,000 company insiders and found that a few of them are better than others when it comes to timing their transactions. See which 3 stocks are most likely to make moves following their insider activities.
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: Ratings, Market Intelligence, Platts and Indices. The Ratings segment offers credit ratings, research, and analytics to investors, issuers, and other market participants. The Market Intelligence provides multi-asset-class data, research and analytical capabilities, which integrate cross-asset analytics and desktop services. The Platts segment provides information and benchmark prices for the commodity and energy markets. The Indices segment provides variety of valuation and index benchmarks for investment advisors, wealth managers and institutional investors. The company was founded by James H. McGraw and John A. Hill in 1917 and is headquartered in New York, NY.
