S&P Global has completed the spin-off of its mobility division into a separate publicly traded company, Mobility Global, and divested a geoscience and petroleum engineering software portfolio from its energy arm. The mobility unit previously accounted for about 10% of S&P Global's revenue, and its removal is expected to slightly lift companywide profit margins since the division's margins were below the corporate average. The restructuring leaves S&P Global more concentrated on its two largest businesses: subscription-based market intelligence and bond ratings, which together generate the bulk of its reliable, recurring revenue. The company has raised its dividend annually for over 50 years, and most analysts rate the stock a strong buy with a consensus price target of $501.24, about 15% above the current price.
S&P Global IncSpin-off of lower-margin mobility unit expected to lift companywide profit margins, sharpening focus on high-margin core businesses.
Mobility Global Inc.Mobility Global is the spun-off entity, but the article provides no details on its prospects or valuation.
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