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S&P Global (SPGI) Set to Gain From Climate Service Buyout

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S&P Global Inc.(SPGI - Free Report) announced that it has completed the acquisition of The Climate Service.

Based in Durham, NC, The Climate Service, Inc. has generated an application for physical climate risk analytics for corporates, investors and governments. It offers the Climanomics platform, a tool which quantifies climate risk. The company was founded in 2017.

Over the past year, shares of S&P Global have gained 39.9%, outperforming the 11.8% growth of the industry it belongs to and 29.5% rise of the Zacks S&P 500 composite.

Zacks Investment ResearchImage Source: Zacks Investment Research

How Will S&P Global Benefit?

The deal is expected to enhance S&P Global's portfolio of essential environmental, social, and governance ("ESG") insights and solutions’ capabilities. This should help S&P Global modify its climate data, models and analytics-related offerings.

Dr Richard Mattison, president, S&P Global Sustainable1, stated, "We are delighted to introduce the best-in-class offering of The Climate Service to S&P Global's ESG solutions, bringing an additional layer of critical insight to our leading suite of climate analytics. Our comprehensive coverage across global markets combined with in-depth ESG intelligence provides financial institutions, corporations and governments with the clarity and confidence to make decisions with conviction."

Zacks Rank and Stocks to Consider

S&P Global currently carries a Zacks Rank #3 (Hold). You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.

Some better-ranked stocks in the broader Business Services sector are Avis Budget (CAR - Free Report) and Cross Country Healthcare (CCRN - Free Report) ), both sporting a Zacks Rank #1, and Charles River Associates (CRAI - Free Report) ), carrying a Zacks Rank #2 (Buy).

Avis Budget has an expected earnings growth rate of 420.6% for the current year. The company has a trailing four-quarter earnings surprise of 76.9%, on average.

Avis Budget’s shares have surged 744.3% in the past year. The company has a long-term earnings growth of 18.8%.

Cross Country Healthcare has an expected earnings growth rate of 447.8% for the current year. The company has a trailing four-quarter earnings surprise of 75%, on average.

Cross Country Healthcare’s shares have surged 201% in the past year. The company has a long-term earnings growth of 21.5%.

Charles River Associates has an expected earnings growth rate of 61.2% for the current year. The company has a trailing four-quarter earnings surprise of 51%, on average.

Charles River’s shares have surged 119.3% in the past year. The company has a long-term earnings growth of 15.5%.