Analysts Issue Forecasts for S&P Global Inc.’s FY2024 Earnings (NYSE:SPGI)

S&P Global Inc. (NYSE:SPGI) – Equities researchers at William Blair raised their FY2024 earnings per share (EPS) estimates for S&P Global in a research note issued to investors on Wednesday, July 31st. William Blair analyst A. Nicholas now forecasts that the business services provider will earn $14.53 per share for the year, up from their previous forecast of $14.26. The consensus estimate for S&P Global’s current full-year earnings is $14.58 per share. William Blair also issued estimates for S&P Global’s FY2025 earnings at $16.07 EPS.

S&P Global (NYSE:SPGI) last posted its earnings results on Tuesday, July 30th. The business services provider reported $4.04 EPS for the quarter, beating the consensus estimate of $3.67 by $0.37. The firm had revenue of $3.55 billion for the quarter, compared to analyst estimates 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 revenue for the quarter was up 14.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted $3.12 earnings per share.

Several other brokerages have also issued reports on SPGI. Morgan Stanley raised their price objective on S&P Global from $500.00 to $510.00 and gave the stock an “overweight” rating in a report on Friday, July 5th. UBS Group raised their price objective on S&P Global from $505.00 to $555.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Bank of America raised their price objective on S&P Global from $530.00 to $540.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. Stifel Nicolaus raised their price objective on S&P Global from $535.00 to $540.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Royal Bank of Canada raised their price objective on S&P Global from $500.00 to $552.00 and gave the stock an “outperform” rating in a report on Wednesday. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, S&P Global currently has a consensus rating of “Moderate Buy” and an average price target of $526.73.

S&P Global Stock Performance

Shares of SPGI stock opened at $486.04 on Thursday. The stock’s 50-day moving average is $455.60 and its two-hundred day moving average is $438.79. The firm has a market cap of $152.13 billion, a price-to-earnings ratio of 54.49, a PEG ratio of 2.69 and a beta of 1.16. S&P Global has a 1 year low of $340.49 and a 1 year high of $502.95. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.92 and a current ratio of 1.03.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Mayflower Financial Advisors LLC increased its holdings in S&P Global by 3.9% in the second quarter. Mayflower Financial Advisors LLC now owns 765 shares of the business services provider’s stock valued at $341,000 after buying an additional 29 shares in the last quarter. TD Asset Management Inc increased its holdings in S&P Global by 0.3% in the second quarter. TD Asset Management Inc now owns 154,924 shares of the business services provider’s stock valued at $69,096,000 after buying an additional 492 shares in the last quarter. FineMark National Bank & Trust increased its holdings in S&P Global by 6.6% in the second quarter. FineMark National Bank & Trust now owns 1,637 shares of the business services provider’s stock valued at $730,000 after buying an additional 102 shares in the last quarter. JGP Global Gestao de Recursos Ltda. increased its stake in shares of S&P Global by 66.7% during the 2nd quarter. JGP Global Gestao de Recursos Ltda. now owns 5,000 shares of the business services provider’s stock worth $2,230,000 after purchasing an additional 2,000 shares in the last quarter. Finally, Consolidated Planning Corp increased its stake in shares of S&P Global by 21.9% during the 2nd quarter. Consolidated Planning Corp now owns 6,912 shares of the business services provider’s stock worth $3,083,000 after purchasing an additional 1,243 shares in the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at S&P Global

In related news, insider Edouard Tavernier sold 500 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total value of $245,775.00. Following the completion of the sale, the insider now owns 13,217 shares in the company, valued at $6,496,816.35. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, insider Edouard Tavernier sold 500 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total value of $245,775.00. Following the completion of the sale, the insider now owns 13,217 shares in the company, valued at $6,496,816.35. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, EVP Steven J. Kemps sold 2,700 shares of the stock in a transaction dated 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 completion of the transaction, the executive vice president now directly owns 1,455 shares of the company’s stock, valued at $715,205.25. The disclosure for this sale can be found here. 0.10% of the stock is owned by insiders.

S&P Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 11th. Investors of record on Tuesday, August 27th will be given a $0.91 dividend. The ex-dividend date of this dividend is Tuesday, August 27th. This represents a $3.64 dividend on an annualized basis and a yield of 0.75%. S&P Global’s payout ratio is currently 40.81%.

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.