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

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the company. Barclays upped their price target on S&P Global from $550.00 to $610.00 and gave the company an “overweight” rating in a report on Friday, September 13th. Wells Fargo & Company upped their price target on S&P Global from $575.00 to $620.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. JPMorgan Chase & Co. lowered their price target on S&P Global from $600.00 to $585.00 and set an “overweight” rating on the stock in a report on Friday. Morgan Stanley increased their target price on S&P Global from $564.00 to $570.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Finally, Royal Bank of Canada increased their target price on S&P Global from $500.00 to $552.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $569.77.

S&P Global Stock Performance

Shares of SPGI opened at $490.61 on Friday. The company has a quick ratio of 1.03, a current ratio of 1.03 and a debt-to-equity ratio of 0.33. The business has a 50-day simple moving average of $513.82 and a two-hundred day simple moving average of $470.81. The stock has a market cap of $153.56 billion, a price-to-earnings ratio of 46.50, a PEG ratio of 2.76 and a beta of 1.18. S&P Global has a 52 week low of $340.49 and a 52 week high of $533.29.

S&P Global (NYSE:SPGI) last issued its quarterly earnings results on Thursday, October 24th. The business services provider reported $3.89 EPS for the quarter, topping analysts’ consensus estimates of $3.64 by $0.25. The business had revenue of $3.58 billion during the quarter, compared to analysts’ expectations of $3.43 billion. S&P Global had a return on equity of 13.03% and a net margin of 25.03%. The business’s quarterly revenue was up 15.9% on a year-over-year basis. During the same quarter in the prior year, the business posted $3.21 earnings per share. On average, analysts expect that S&P Global will post 14.79 EPS for the current year.

S&P Global Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date of this dividend is Tuesday, November 26th. S&P Global’s payout ratio is 34.50%.

Insider Buying and Selling

In related news, Director Robert P. Kelly sold 7,662 shares of the stock in a transaction dated Wednesday, August 7th. The stock was sold at an average price of $481.28, for a total transaction of $3,687,567.36. Following the completion of the sale, the director now owns 15,830 shares in the company, valued at approximately $7,618,662.40. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other S&P Global news, Director Robert P. Kelly sold 7,662 shares of S&P Global stock in a transaction that occurred on 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 owns 15,830 shares of the company’s stock, valued at $7,618,662.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Douglas L. Peterson sold 7,000 shares of S&P Global stock in a transaction that occurred on Friday, August 2nd. The stock was sold at an average price of $483.60, for a total value of $3,385,200.00. Following the completion of the sale, the chief executive officer now directly owns 154,912 shares in the company, valued at approximately $74,915,443.20. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 17,862 shares of company stock worth $8,645,727. 0.10% of the stock is owned by corporate insiders.

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.