S&P Global (NYSE:SPGI) Issues FY 2024 Earnings Guidance

S&P Global (NYSE:SPGI) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 15.100-15.300 for the period, compared to the consensus earnings per share 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.

S&P Global Stock Performance

SPGI opened at $510.92 on Thursday. The company has a market capitalization of $159.87 billion, a price-to-earnings ratio of 57.28, a P/E/G ratio of 2.91 and a beta of 1.18. The business’s 50-day moving average price is $513.82 and its two-hundred day moving average price is $470.01. S&P Global has a 1 year low of $340.49 and a 1 year high of $533.29. 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 released its earnings results on Tuesday, July 30th. The business services provider reported $4.04 earnings per share for the quarter, beating analysts’ consensus estimates of $3.67 by $0.37. S&P Global had a net margin of 25.03% and a return on equity of 13.03%. The business had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.42 billion. During the same quarter last year, the firm earned $3.12 earnings per share. The firm’s revenue for the quarter was up 14.4% compared to the same quarter last year. Equities analysts expect that S&P Global will post 14.61 EPS for the current fiscal year.

S&P Global Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 11th. Shareholders of record on Tuesday, November 26th will be paid a $0.91 dividend. This represents a $3.64 annualized dividend and a yield of 0.71%. The ex-dividend date of this dividend is Tuesday, November 26th. S&P Global’s dividend payout ratio (DPR) is 40.81%.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on SPGI. Bank of America upped their target price on S&P Global from $530.00 to $540.00 and gave the company a “buy” rating in a research report on Tuesday, July 16th. JPMorgan Chase & Co. increased their price objective on shares of S&P Global from $550.00 to $565.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 31st. UBS Group boosted their target price on shares of S&P Global from $505.00 to $555.00 and gave the company a “buy” rating in a research report on Tuesday, July 9th. BMO Capital Markets upped their price target on shares of S&P Global from $537.00 to $589.00 and gave the stock an “outperform” rating in a report on Tuesday, October 15th. Finally, Oppenheimer lifted their price objective on shares of S&P Global from $540.00 to $590.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $565.17.

Insider Buying and Selling

In other news, insider Edouard Tavernier sold 500 shares of the business’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total transaction of $245,775.00. Following the completion of the transaction, the insider now directly owns 13,217 shares in the company, valued at $6,496,816.35. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, insider Edouard Tavernier sold 500 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 value of $245,775.00. Following the transaction, the insider now owns 13,217 shares of the company’s stock, valued at $6,496,816.35. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Robert P. Kelly sold 7,662 shares of S&P Global stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $481.28, for a total value of $3,687,567.36. Following the sale, the director now directly owns 15,830 shares of the company’s stock, valued at approximately $7,618,662.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 17,862 shares of company stock valued at $8,645,727. Corporate 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.