Q1 2024 EPS Estimates for S&P Global Inc. (NYSE:SPGI) Raised by Analyst

S&P Global Inc. (NYSE:SPGI) – Analysts at William Blair raised their Q1 2024 earnings per share (EPS) estimates for shares of S&P Global in a research report issued on Monday, April 15th. William Blair analyst A. Nicholas now forecasts that the business services provider will earn $3.69 per share for the quarter, up from their prior estimate of $3.57. The consensus estimate for S&P Global’s current full-year earnings is $14.03 per share. William Blair also issued estimates for S&P Global’s Q2 2024 earnings at $3.49 EPS, FY2024 earnings at $14.00 EPS and FY2025 earnings at $15.80 EPS.

S&P Global (NYSE:SPGI) last released 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 analysts’ expectations of $3.13 billion. During the same period in the previous year, the firm posted $2.54 earnings per share. The firm’s revenue was up 7.3% on a year-over-year basis.

Several other equities research analysts also recently issued reports on the stock. Royal Bank of Canada reiterated an “outperform” rating and set a $500.00 price objective on shares of S&P Global in a research note on Friday, February 9th. Erste Group Bank reaffirmed a “hold” rating on shares of S&P Global in a research report on Wednesday, April 3rd. Barclays raised their price target on shares of S&P Global from $500.00 to $520.00 and gave the company an “overweight” rating in a report on Tuesday, April 2nd. BMO Capital Markets lifted 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 note on Monday, April 1st. Finally, Oppenheimer reissued an “outperform” rating and issued a $480.00 price objective on shares of S&P Global in a research report on Tuesday, April 2nd. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, S&P Global has a consensus rating of “Moderate Buy” and an average price target of $462.00.

S&P Global Price Performance

Shares of S&P Global stock opened at $413.37 on Wednesday. The business’s fifty day moving average price is $425.23 and its 200 day moving average price is $415.25. S&P Global has a twelve month low of $338.92 and a twelve month high of $461.16. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $132.39 billion, a P/E ratio of 50.23, a PEG ratio of 2.31 and a beta of 1.15.

S&P Global Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, February 27th were given a dividend of $0.91 per share. This is a positive change from S&P Global’s previous quarterly dividend of $0.90. This represents a $3.64 annualized dividend and a dividend yield of 0.88%. The ex-dividend date of this dividend was Monday, February 26th. S&P Global’s dividend payout ratio is currently 44.23%.

Insider Buying and Selling

In other S&P Global news, CEO Douglas L. Peterson sold 6,000 shares of S&P Global stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $424.74, for a total value of $2,548,440.00. Following the completion of the transaction, the chief executive officer now directly owns 162,530 shares in the company, valued at $69,032,992.20. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.10% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On S&P Global

Several institutional investors have recently modified their holdings of SPGI. Private Wealth Management Group LLC acquired a new position in S&P Global during the 4th quarter worth $26,000. Pineridge Advisors LLC bought a new position in S&P Global in the 4th quarter valued at about $26,000. Valued Wealth Advisors LLC acquired a new position in S&P Global during the 4th quarter valued at about $28,000. Oliver Lagore Vanvalin Investment Group raised its position in shares of S&P Global by 64.1% during the 4th quarter. Oliver Lagore Vanvalin Investment Group now owns 64 shares of the business services provider’s stock worth $28,000 after buying an additional 25 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in shares of S&P Global in the 3rd quarter worth approximately $25,000. Institutional investors own 87.17% of the company’s stock.

About S&P Global

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.