We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
S&P Global (SPGI) Hits 52-Week High: What's Driving It?
Read MoreHide Full Article
Shares of S&P Global Inc. (SPGI - Free Report) scaled a 52-week high of $363.10 in the trading session on Aug 19, before closing a tad lower at $358.11.
The company’s shares have charted a solid trajectory, appreciating 31.1% year to date, ahead of 19% growth of the industry it belongs to and 5.2% increase of the Zacks S&P 500 composite.
Notably, S&P Global has witnessed a 3% rise in share price since it posted second-quarter 2020 results.
Let’s find out what’s supporting the uptick.
Consecutive Earnings & Revenue Beat
S&P Global reported back-to-back earnings and revenue beat in the last five quarters. While the bottom line gained from revenue growth and benefits of productivity initiatives, the top line performed well on the back of strength across all segments, namely S&P Global Ratings, S&P Global Market Intelligence, S&P Global Platts and S&P Dow Jones Indices.
Raised 2020 EPS Guidance
S&P Global raised its full-year adjusted-EPS guidance to the range of $10.75-$10.95 from the prior guidance of $9.95-$10.15. The current Zacks Consensus Estimate of $10.91 lies within the updated guidance range.
Strategic Acquisitions Bode Well
Acquisitions have been a key growth strategy for S&P Global, helping it continuously innovate, increase differentiated content and develop new products.
In 2020 so far, the company has completed the acquisitions of ESG Ratings Business (from RobecoSAM) and Greenwich Associates LLC. While ESG Ratings Business will boost the company’s position as a premier resource for essential ESG data, ratings, benchmarks and insights, Greenwich will complement the company’s existing portfolio of products and expand its offerings to new segments across financial services including commercial banks, and asset and wealth managers.
In 2019, the company acquired 451 Research, Canadian Enerdata, Live Rice Index and Orion technology center. 451 Research is likely to have strengthened S&P Global Market Intelligence's emerging technology expertise and offerings. Canadian Enerdata enhanced S&P Global Platts division's energy-analytical capabilities and strengthened its foothold in the North American natural-gas market. Live Rice Index is a great addition to Platts’ global agriculture offering. Orion technology center provides the company’s employees with access to the latest technologies and global communications infrastructure.
The company is expected to continue adding advanced technology and data sets through acquisitions, which in turn should boost its top- and bottom-line growth.
Zacks Rank and Stocks to Consider
S&P Global currently carries a Zacks Rank #3 (Hold).
The long-term expected-earnings per share (three to five years) growth rate for Republic Services, IQVIA Holdings and ICF International is 6.6%, 9.9% and 10%, respectively.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
Image: Shutterstock
S&P Global (SPGI) Hits 52-Week High: What's Driving It?
Shares of S&P Global Inc. (SPGI - Free Report) scaled a 52-week high of $363.10 in the trading session on Aug 19, before closing a tad lower at $358.11.
The company’s shares have charted a solid trajectory, appreciating 31.1% year to date, ahead of 19% growth of the industry it belongs to and 5.2% increase of the Zacks S&P 500 composite.
Notably, S&P Global has witnessed a 3% rise in share price since it posted second-quarter 2020 results.
Let’s find out what’s supporting the uptick.
Consecutive Earnings & Revenue Beat
S&P Global reported back-to-back earnings and revenue beat in the last five quarters. While the bottom line gained from revenue growth and benefits of productivity initiatives, the top line performed well on the back of strength across all segments, namely S&P Global Ratings, S&P Global Market Intelligence, S&P Global Platts and S&P Dow Jones Indices.
Raised 2020 EPS Guidance
S&P Global raised its full-year adjusted-EPS guidance to the range of $10.75-$10.95 from the prior guidance of $9.95-$10.15. The current Zacks Consensus Estimate of $10.91 lies within the updated guidance range.
Strategic Acquisitions Bode Well
Acquisitions have been a key growth strategy for S&P Global, helping it continuously innovate, increase differentiated content and develop new products.
In 2020 so far, the company has completed the acquisitions of ESG Ratings Business (from RobecoSAM) and Greenwich Associates LLC. While ESG Ratings Business will boost the company’s position as a premier resource for essential ESG data, ratings, benchmarks and insights, Greenwich will complement the company’s existing portfolio of products and expand its offerings to new segments across financial services including commercial banks, and asset and wealth managers.
In 2019, the company acquired 451 Research, Canadian Enerdata, Live Rice Index and Orion technology center. 451 Research is likely to have strengthened S&P Global Market Intelligence's emerging technology expertise and offerings. Canadian Enerdata enhanced S&P Global Platts division's energy-analytical capabilities and strengthened its foothold in the North American natural-gas market. Live Rice Index is a great addition to Platts’ global agriculture offering. Orion technology center provides the company’s employees with access to the latest technologies and global communications infrastructure.
The company is expected to continue adding advanced technology and data sets through acquisitions, which in turn should boost its top- and bottom-line growth.
Zacks Rank and Stocks to Consider
S&P Global currently carries a Zacks Rank #3 (Hold).
Some better-ranked stocks in the broader Zacks Business Services sector are Republic Services (RSG - Free Report) , IQVIA Holdings (IQV - Free Report) and ICF International (ICFI - Free Report) . All three stocks carry a Zacks Rank #2 (Buy). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
The long-term expected-earnings per share (three to five years) growth rate for Republic Services, IQVIA Holdings and ICF International is 6.6%, 9.9% and 10%, respectively.
Biggest Tech Breakthrough in a Generation
Be among the early investors in the new type of device that experts say could impact society as much as the discovery of electricity. Current technology will soon be outdated and replaced by these new devices. In the process, it’s expected to create 22 million jobs and generate $12.3 trillion in activity.
A select few stocks could skyrocket the most as rollout accelerates for this new tech. Early investors could see gains similar to buying Microsoft in the 1990s. Zacks’ just-released special report reveals 8 stocks to watch. The report is only available for a limited time.
See 8 breakthrough stocks now>>