S&P Global Inc.NYSE
Thu, Oct. 13, 8:12 AM
- S&P Global (NYSE:SPGI) announced appointment of Ewout Steenbergen as Executive Vice President and Chief Financial Officer, effective November 14.
- "Ewout is an excellent addition to our senior management team," said Douglas L. Peterson, President and Chief Executive Officer of S&P Global. "He brings outstanding leadership, a global perspective and deep experience in financial services that will be very valuable to the Company. I want to take this opportunity to thank Rob MacKay, who has served as Interim Chief Financial Officer since August. Rob is a consummate professional who ensured that the finance organization was able to execute on its objectives and strategic priorities throughout this period."
- Most recently, Mr. Steenbergen served as Executive Vice President and Chief Financial Officer at Voya Financial.
- Press Release
Mon, Aug. 29, 2:12 PM
- The big-three corporate credit rating agencies - S&P Global (SPGI +0.8%), Moody's (MCO +1%), and Fitch - are about to face some competition after the SEC grants Morningstar (MORN +0.3%) the ability to offer credit ratings on companies and banks as a nationally recognized statistical rating organization (NRSRO).
- Best known for its one-to-five star ratings on mutual funds, Morningstar has been busy in credit ratings, but mostly on structured finance (think CMBS).
- This new approval would allow the company to move into corporate debt, and the company has plans to hire a number of new analysts for the job.
- Source: Eric Platt in the FT
Wed, Aug. 17, 12:31 PM
- Formerly McGraw Hill Financial, S&P Global (SPGI -0.3%) will have to deal with the timing and magnitude of Fed rate hikes, as well as rising default risk in the corporate bond market, says analyst John Eade. He lifts the price target to $135 from $120 (and vs. current $119.25).
- With a multiyear restructuring now in the rear-view mirror, and focus now on faster-growing businesses like rating bonds, the company should be able to navigate through the challenge, says Eade, maintaining his Buy rating. He takes note of the "transparent" management team which consistently "underpromises and overdelivers."
Thu, Jul. 28, 7:49 AM
Wed, Jul. 27, 5:30 PM
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Tue, Jul. 26, 12:08 PM
Fri, Jul. 1, 7:03 AM
- June monthly performance was: +2.86%
- 52-week performance vs. the S&P 500 is: +7%
- $0.25 in dividends were paid in June
- Top 10 Holdings as of 5/31/2016: S&P Global Inc (SPGI): 2.15464%, Archer-Daniels Midland Co (ADM): 2.15039%, Cincinnati Financial Corp (CINF): 2.13109%, McCormick & Co Inc Non-Voting (MKC): 2.10728%, C.R. Bard Inc (BCR): 2.10554%, Cintas Corp (CTAS): 2.10524%, Leggett & Platt Inc (LEG): 2.10068%, Lowe's Companies Inc (LOW): 2.09886%, Brown-Forman Corp Class B (BF.B): 2.09499%, Pentair PLC (PNR): 2.09495%
Thu, Jun. 2, 7:46 AM
- May monthly performance was: +0.76%
- 52-week performance vs. the S&P 500 is: +7%
- No dividends were paid in May
- Top 10 Holdings as of 4/30/2016: Consolidated Edison Inc (ED): 2.09%, Leggett & Platt Inc (LEG): 2.07%, S&P Global Inc (SPGI): 2.07%, Brown-Forman Corp Class B (BF.B): 2.07%, Colgate-Palmolive Co (CL): 2.06%, C.R. Bard Inc (BCR): 2.05%, Hormel Foods Corp (HRL): 2.05%, W.W. Grainger Inc (GWW): 2.05%, Clorox Co (CLX): 2.05%, McCormick & Co Inc Non-Voting (MKC): 2.05%
Wed, Apr. 27, 9:11 AM
- McGraw-Hill Companies (NYSE:MHFI) declares $0.36/share quarterly dividend, in line with previous.
- Forward yield 1.35%
- Payable June 10; for shareholders of record May 26; ex-div May 24.
Tue, Apr. 26, 10:15 AM
- Q1 adjusted net income of $349M gained 5% Y/Y, with adjusted EPS of $1.20 up 8%, and beating estimates by a nickel.
- Buybacks over the past year have cut the flat by 9M shares, with 2.2M bought back in Q1.
- Thanks to the purchase of SNL Financial, adjusted operating profit in the Market Intelligence unit (formerly S&P Capital IQ and SNL) rose 81% Y/Y to $123M. Adjusted operating margin improved 900 bps to 30%.
- S&P Ratings Services unit revenue fell 9% to $552M, with adjusted operating profit of $252M down 12%.
- S&P Dow Jones Indices unit revenue rose 5% to $151M, with adjusted operating profit of $102M up 5%.
- Next up is the sale of J.D. Power for $1.1B, with management saying this is the last major disposition for the foreseeable future.
- Previously: McGraw-Hill Companies beats by $0.05, misses on revenue (April 26)
- MHFI +1.8%
Tue, Apr. 26, 7:13 AM
- McGraw-Hill Companies (NYSE:MHFI): Q1 EPS of $1.20 beats by $0.05.
- Revenue of $1.26B (-0.8% Y/Y) misses by $100M.
Mon, Apr. 25, 5:30 PM
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Fri, Apr. 15, 4:43 PM
- McGraw Hill Financial (NYSE:MHFI) is going to sell J.D. Power, the global marketing information firm known for satisfaction ratings, to Chinese buyout firm XIO Group for $1.1B and rename itself in the process.
- The two companies have a definitive deal, XIO Group says, and will close it during the third quarter.
- McGraw Hill Financial will become S&P Global on April 27.
- MHFI is flat so far in after-hours trading.
- Now read McGraw Hill Looks To Be Hitting A Near-Term Top »
Tue, Mar. 1, 4:23 PM
- Standard & Poors Securities Evaluations is a provider of fixed-income evaluated pricing, and Credit Market Analysis a provider of independent data for the OTC markets.
- Both businesses are in McGraw Hill Financial's (NYSE:MHFI) S&P Global Market Intelligence Business unit.
- When close, the deal will enable ICE to offer customers new data and valuation services. The company can pay MHFI in either cash or stock.
- All other terms were not disclosed.
- "After a strategic review of our portfolio, we determined that we do not have critical mass in the area of securities pricing," says Mike Chinn, president of S&P Global Market Intelligence.
Thu, Feb. 4, 12:38 PM
- McGraw-Hill Companies (NYSE:MHFI) declares $0.36/share quarterly dividend, 9.1% increase from prior dividend of $0.33.
- Forward yield 1.66%
- Payable March 10; for shareholders of record Feb. 25; ex-div Feb. 23.
Thu, Feb. 4, 7:46 AM
- Q4 adjusted net income from continuing operations of $284M up 8% Y/Y; per share of $1.04 up 9%. Full-year income of $1.244B up 16%; per share of $4.53 up 17%.
- Adjusted operating profit margin up 280 points to 38.7%, with this number being cut by 126 basis points thanks to deal-related amortization.
- 5M shares bought back during quarter, bringing 2015 buybacks to 10M shares. About 35M shares remain in the repurchase program.
- S&P Capital IP and SNL Q4 revenue of $405M up 27%. Excluding SNL results, organic revenue growth of 7%. Adjusted operating profit of $75M up 22%.
- S&P Ratings Services revenue of $578M fell 7% thanks to weak global bond issuance. Adjusted operating profit of $252M fell 3%.
- S&P Dow Jones Indices revenue of $151M up 7%. Adjusted operating profit of $69M up 9%.
- Adjusted unallocated expense of $35M fell 14%, in part thanks to the exit of the now former HQ in mid-town Manhattan.
- Company now expects about $100M of synergies from the SNL integration, with meaningful realization beginning this year. Full-year EPS guidance of $5.$5.15 as the company changes its non-GAAP reporting to adjust for deal-related amortization.
- Pending approval, MHFI will change its name to "S&P Global."
- Conference call at 8:30 ET
- Previously: McGraw-Hill Companies beats by $0.02, misses on revenue (Feb. 4)