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 (EPS) guidance of 15.100-15.300 for the period, compared to the consensus 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.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on SPGI. BMO Capital Markets cut their price objective on S&P Global from $589.00 to $564.00 and set an “outperform” rating for the company in a research report on Friday. Wells Fargo & Company increased their price target on shares of S&P Global from $575.00 to $620.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 9th. Raymond James downgraded shares of S&P Global from an “outperform” rating to a “market perform” rating in a research note on Monday, September 23rd. UBS Group increased their target price on shares of S&P Global from $505.00 to $555.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Finally, Barclays boosted their price target on shares of S&P Global from $550.00 to $610.00 and gave the company an “overweight” rating in a research report on Friday, September 13th. Two analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $565.54.

S&P Global Trading Down 0.5 %

S&P Global stock traded down $2.60 during mid-day trading on Friday, hitting $490.61. The stock had a trading volume of 949,973 shares, compared to its average volume of 1,198,444. The stock has a 50-day simple moving average of $513.83 and a two-hundred day simple moving average of $470.17. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $153.56 billion, a PE ratio of 46.36, a P/E/G ratio of 2.76 and a beta of 1.18. S&P Global has a 12 month low of $340.49 and a 12 month high of $533.29.

S&P Global (NYSE:SPGI) last issued its earnings results on Thursday, October 24th. The business services provider reported $3.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.64 by $0.25. The company had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.43 billion. S&P Global had a net margin of 25.03% and a return on equity of 13.03%. The company’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same quarter last year, the firm earned $3.21 EPS. As a group, sell-side analysts forecast that S&P Global will post 14.79 EPS for the current year.

S&P Global Dividend Announcement

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

Insider Buying and Selling

In other S&P Global news, insider Edouard Tavernier sold 500 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $491.55, for a total transaction of $245,775.00. Following the transaction, the insider now owns 13,217 shares in the company, valued at approximately $6,496,816.35. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, Director Robert P. Kelly sold 7,662 shares of the company’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $481.28, for a total value of $3,687,567.36. Following the completion of the sale, the director now owns 15,830 shares in the company, valued at $7,618,662.40. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Edouard Tavernier sold 500 shares of S&P Global stock in a transaction dated Wednesday, July 31st. The stock was 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 in the company, valued at approximately $6,496,816.35. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 17,862 shares of company stock valued at $8,645,727 over the last three months. Company insiders own 0.10% of the company’s stock.

About S&P Global

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.