S&P Global (NYSE:SPGI) Releases 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 $15.10-15.30 for the period, compared to the consensus estimate of $14.86. The company issued revenue guidance of $13.93-14.06 billion, compared to the consensus revenue estimate of $13.79 billion. S&P Global also updated its FY 2024 guidance to 15.100-15.300 EPS.

S&P Global Stock Performance

NYSE:SPGI opened at $510.92 on Thursday. The stock’s fifty day moving average is $513.82 and its 200 day moving average is $470.01. S&P Global has a fifty-two week low of $340.49 and a fifty-two week high of $533.29. The firm has a market capitalization of $159.87 billion, a PE ratio of 57.28, a PEG ratio of 2.91 and a beta of 1.18. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.03 and a current ratio of 1.03.

S&P Global (NYSE:SPGI) last released its quarterly earnings results on Tuesday, July 30th. The business services provider reported $4.04 earnings per share for the quarter, beating the consensus estimate of $3.67 by $0.37. S&P Global had a return on equity of 13.03% and a net margin of 25.03%. The company had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.42 billion. During the same quarter in the prior year, the firm posted $3.12 EPS. S&P Global’s quarterly revenue was up 14.4% compared to the same quarter last year. On average, sell-side analysts anticipate that S&P Global will post 14.61 earnings per share for the current year.

S&P Global Dividend Announcement

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 given 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 presently 40.81%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the company. Oppenheimer upped their price objective on S&P Global from $540.00 to $590.00 and gave the company an “outperform” rating in a research report on Thursday, October 3rd. Evercore ISI assumed coverage on S&P Global in a research report on Wednesday, October 2nd. They issued an “outperform” rating and a $599.00 price objective on the stock. Morgan Stanley upped 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. Bank of America increased their price target on S&P Global from $530.00 to $540.00 and gave the stock a “buy” rating in a research report on Tuesday, July 16th. Finally, BMO Capital Markets increased their price target on S&P Global from $537.00 to $589.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 15th. Two research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $565.17.

Insider Transactions at S&P Global

In other news, Director Robert P. Kelly sold 7,662 shares of the stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $481.28, for a total value of $3,687,567.36. Following the sale, the director now owns 15,830 shares in the company, valued at $7,618,662.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CEO Douglas L. Peterson sold 7,000 shares of the firm’s stock in a transaction on 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 sale, the chief executive officer now owns 154,912 shares in the company, valued at approximately $74,915,443.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Robert P. Kelly sold 7,662 shares of the firm’s stock in a transaction on Wednesday, August 7th. The shares were sold at an average price of $481.28, for a total transaction of $3,687,567.36. Following the sale, the director now owns 15,830 shares in the company, valued at approximately $7,618,662.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,862 shares of company stock worth $8,645,727 over the last 90 days. 0.10% of the stock is currently 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.