S&P Global (NYSE:SPGI) Issues 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.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on the stock. Wells Fargo & Company upped their target price 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. Morgan Stanley increased their price objective on S&P Global from $564.00 to $570.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. Evercore ISI initiated coverage on S&P Global in a research report on Wednesday, October 2nd. They issued an “outperform” rating and a $599.00 target price for the company. Bank of America increased their price target on shares of S&P Global from $530.00 to $540.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. Finally, UBS Group boosted their price objective on shares of S&P Global from $505.00 to $555.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, S&P Global currently has a consensus rating of “Moderate Buy” and a consensus price target of $565.17.

S&P Global Trading Down 3.5 %

S&P Global stock traded down $17.82 during trading hours on Thursday, reaching $493.10. The stock had a trading volume of 1,760,637 shares, compared to its average volume of 1,199,645. The company has a fifty day simple moving average of $513.82 and a 200-day simple moving average of $470.01. S&P Global has a 52 week low of $340.49 and a 52 week high of $533.29. The stock has a market cap of $154.29 billion, a PE ratio of 55.28, a PEG ratio of 2.91 and a beta of 1.18. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.03 and a quick ratio of 1.03.

S&P Global (NYSE:SPGI) last posted its earnings results on Tuesday, July 30th. The business services provider reported $4.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.67 by $0.37. The company had revenue of $3.55 billion for the quarter, compared to analysts’ expectations of $3.42 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 14.4% on a year-over-year basis. During the same period last year, the firm earned $3.12 earnings per share. Analysts forecast that S&P Global will post 14.61 EPS for the current fiscal year.

S&P Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Tuesday, November 26th will be issued a dividend of $0.91 per share. The ex-dividend date is Tuesday, November 26th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.74%. S&P Global’s dividend payout ratio is presently 40.81%.

Insider Buying and Selling

In related news, CEO Douglas L. Peterson sold 7,000 shares of the business’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $483.60, for a total transaction of $3,385,200.00. Following the transaction, the chief executive officer now owns 154,912 shares in the company, valued at $74,915,443.20. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Douglas L. Peterson sold 7,000 shares of the firm’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 value 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 trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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 completion of the transaction, the executive vice president now owns 1,455 shares of the company’s stock, valued at approximately $715,205.25. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 17,862 shares of company stock valued at $8,645,727 over the last quarter. 0.10% of the stock is owned by company 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.