S&P Global (NYSE:SPGI) Releases Earnings Results, Beats Estimates By $0.25 EPS

S&P Global (NYSE:SPGI) posted its quarterly earnings data on Thursday. The business services provider reported $3.89 earnings per share for the quarter, beating analysts’ consensus estimates of $3.64 by $0.25, Briefing.com reports. S&P Global had a net margin of 25.03% and a return on equity of 13.03%. The business had revenue of $3.58 billion during the quarter, compared to analyst estimates of $3.43 billion. During the same quarter in the previous year, the business posted $3.21 earnings per share. The company’s revenue was up 15.9% on a year-over-year basis. S&P Global updated its FY 2024 guidance to 15.100-15.300 EPS and its FY24 guidance to $15.10-15.30 EPS.

S&P Global Stock Down 0.5 %

SPGI traded down $2.60 during trading on Friday, hitting $490.61. The company had a trading volume of 949,973 shares, compared to its average volume of 1,198,444. The company has a market cap of $153.56 billion, a PE ratio of 46.36, a P/E/G ratio of 2.76 and a beta of 1.18. The business has a 50-day moving average of $513.83 and a 200-day moving average of $470.17. 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 has a 1-year low of $340.49 and a 1-year high of $533.29.

S&P Global Dividend Announcement

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

Insider Activity at S&P Global

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

Analyst Ratings Changes

Several equities research analysts have issued reports on the stock. Barclays boosted their price objective on shares of S&P Global from $550.00 to $610.00 and gave the stock an “overweight” rating in a research note on Friday, September 13th. 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 research note on Tuesday, July 9th. Royal Bank of Canada upped their target price on shares of S&P Global from $500.00 to $552.00 and gave the company an “outperform” rating in a research note on Wednesday, July 31st. Robert W. Baird upped their target price on shares of S&P Global from $536.00 to $575.00 and gave the company an “outperform” rating in a research note on Friday. Finally, 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. Two investment analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $565.54.

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.