S&P Global (NYSE:SPGI) Updates FY 2024 Earnings Guidance

S&P Global (NYSE:SPGI) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 15.100-15.300 for the period, compared to the consensus earnings per share estimate of 14.860. The company issued revenue guidance of $13.9 billion-$14.1 billion, compared to the consensus revenue estimate of $13.8 billion. S&P Global also updated its FY24 guidance to $15.10-15.30 EPS.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Wells Fargo & Company lifted their target price on S&P Global from $575.00 to $620.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. Barclays boosted their price objective on S&P Global from $550.00 to $610.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Robert W. Baird boosted their price objective on S&P Global from $536.00 to $575.00 and gave the company an “outperform” rating in a research note on Friday. Raymond James cut S&P Global from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. Finally, Royal Bank of Canada boosted their price objective on S&P Global from $500.00 to $552.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $569.77.

S&P Global Price Performance

NYSE:SPGI traded down $2.60 during mid-day trading on Friday, reaching $490.61. The stock had a trading volume of 984,517 shares, compared to its average volume of 1,198,610. The firm has a 50 day moving average price of $513.82 and a two-hundred day moving average price of $470.56. The stock has a market capitalization of $153.56 billion, a P/E ratio of 46.50, a P/E/G ratio of 2.76 and a beta of 1.18. S&P Global has a one year low of $340.49 and a one year high of $533.29. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.03 and a current ratio of 1.03.

S&P Global (NYSE:SPGI) last released its earnings results on Thursday, October 24th. The business services provider reported $3.89 earnings per share for the quarter, topping analysts’ consensus estimates of $3.64 by $0.25. The company had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.43 billion. S&P Global had a return on equity of 13.03% and a net margin of 25.03%. S&P Global’s quarterly revenue was up 15.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $3.21 EPS. As a group, analysts expect that S&P Global will post 14.79 earnings per share for the current year.

S&P Global Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Tuesday, November 26th will be given a $0.91 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $3.64 annualized dividend and a yield of 0.74%. S&P Global’s payout ratio is currently 34.50%.

Insider Buying and Selling at S&P Global

In other S&P Global news, insider Edouard Tavernier sold 500 shares of the business’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $491.55, for a total value of $245,775.00. Following the completion of the sale, the insider now owns 13,217 shares in the company, valued at approximately $6,496,816.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, CEO Douglas L. Peterson sold 7,000 shares of the company’s stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $483.60, for a total transaction of $3,385,200.00. Following the completion of the transaction, the chief executive officer now owns 154,912 shares in the company, valued at $74,915,443.20. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Edouard Tavernier sold 500 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total value of $245,775.00. Following the transaction, the insider now owns 13,217 shares of the company’s stock, valued at approximately $6,496,816.35. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,862 shares of company stock worth $8,645,727. 0.10% of the stock is currently owned by insiders.

S&P Global Company Profile

S&P Global Inc, together with its subsidiaries, provides credit ratings, benchmarks, analytics, and workflow solutions in the global capital, commodity, and automotive markets. It operates through S&P Global Market Intelligence, S&P Global Ratings, S&P Global Commodity Insights, S&P Global Mobility, S&P Dow Jones Indices, and S&P Global Engineering Solutions segments.