S&P Global (NYSE:SPGI) Issues 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 $13.85-14.10 for the period, compared to the consensus estimate of $14.10. The company issued revenue guidance of ~$13.25-13.50 billion, compared to the consensus revenue estimate of $13.43 billion. S&P Global also updated its FY 2024 guidance to 13.850-14.100 EPS.

S&P Global Stock Performance

Shares of SPGI opened at $413.28 on Thursday. S&P Global has a one year low of $338.92 and a one year high of $461.16. The company has a 50-day moving average of $424.13 and a two-hundred day moving average of $417.08. The stock has a market cap of $132.36 billion, a price-to-earnings ratio of 50.22, a PEG ratio of 2.32 and a beta of 1.15. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.84 and a quick ratio of 0.84.

S&P Global (NYSE:SPGI) last announced its earnings results on Thursday, February 8th. The business services provider reported $3.13 EPS for the quarter, missing the consensus estimate of $3.15 by ($0.02). S&P Global had a return on equity of 11.34% and a net margin of 21.02%. The firm had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the previous year, the business earned $2.54 earnings per share. The business’s quarterly revenue was up 7.3% compared to the same quarter last year. On average, equities research analysts expect that S&P Global will post 14.11 earnings per share for the current year.

Wall Street Analyst Weigh In

SPGI has been the subject of several recent analyst reports. Royal Bank of Canada reiterated an outperform rating and issued a $500.00 target price on shares of S&P Global in a report on Friday, February 9th. Stifel Nicolaus reduced their price target on shares of S&P Global from $460.00 to $442.00 and set a buy rating for the company in a research report on Thursday, April 18th. Oppenheimer reissued an outperform rating and issued a $480.00 price target on shares of S&P Global in a research report on Tuesday, April 2nd. BMO Capital Markets increased their price target on shares of S&P Global from $480.00 to $483.00 and gave the stock an outperform rating in a research report on Monday, April 1st. Finally, Raymond James increased their price target on shares of S&P Global from $422.00 to $452.00 and gave the stock an outperform rating in a research report on Tuesday, January 9th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat.com, S&P Global currently has an average rating of Moderate Buy and a consensus target price of $462.00.

Insider Activity at S&P Global

In related news, CEO Douglas L. Peterson sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $424.74, for a total transaction of $2,548,440.00. Following the transaction, the chief executive officer now owns 162,530 shares of the company’s stock, valued at $69,032,992.20. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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.