S&P Global (NYSE:SPGI) Releases FY24 Earnings Guidance

S&P Global (NYSE:SPGI) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of $15.10-15.30 for the period, compared to the consensus estimate of $14.86. The company issued revenue guidance of $13.93-14.06 billion, compared to the consensus revenue estimate of $13.79 billion. S&P Global also updated its FY 2024 guidance to 15.100-15.300 EPS.

Wall Street Analyst Weigh In

SPGI has been the subject of several recent research reports. BMO Capital Markets lowered their price target on S&P Global from $589.00 to $564.00 and set an “outperform” rating for the company in a research note on Friday. Robert W. Baird upped their price objective on shares of S&P Global from $536.00 to $575.00 and gave the stock an “outperform” rating in a report on Friday. JPMorgan Chase & Co. decreased their price target on S&P Global from $600.00 to $585.00 and set an “overweight” rating for the company in a research note on Friday. Wells Fargo & Company raised their price objective on S&P Global from $575.00 to $620.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Finally, Barclays upped their target price on S&P Global from $550.00 to $610.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $569.77.

S&P Global Stock Down 0.5 %

SPGI stock opened at $490.61 on Friday. S&P Global has a twelve month low of $340.49 and a twelve month high of $533.29. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.33. The company has a market cap of $153.56 billion, a PE ratio of 46.50, a price-to-earnings-growth ratio of 2.76 and a beta of 1.18. The business’s 50-day simple moving average is $513.82 and its 200 day simple moving average is $470.81.

S&P Global (NYSE:SPGI) last released its quarterly earnings data on Thursday, October 24th. The business services provider reported $3.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.64 by $0.25. The business had revenue of $3.58 billion for the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the previous year, the business posted $3.21 earnings per share. On average, research analysts anticipate that S&P Global will post 14.79 earnings per share for the current year.

S&P Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Tuesday, November 26th will be given a dividend of $0.91 per share. 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 (DPR) is currently 34.50%.

Insiders Place Their Bets

In other news, EVP Steven J. Kemps sold 2,700 shares of the company’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 $1,327,185.00. Following the sale, the executive vice president now directly owns 1,455 shares in the company, valued at approximately $715,205.25. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In related news, insider Edouard Tavernier sold 500 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $491.55, for a total transaction of $245,775.00. Following the sale, the insider now directly owns 13,217 shares in the company, valued at $6,496,816.35. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Steven J. Kemps sold 2,700 shares of the stock in a transaction on Wednesday, July 31st. The stock was sold at an average price of $491.55, for a total value of $1,327,185.00. Following the sale, the executive vice president now owns 1,455 shares in the company, valued at $715,205.25. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 17,862 shares of company stock worth $8,645,727 over the last quarter. Company insiders own 0.10% of the company’s stock.

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.