S&P Global (NYSE:SPGI) Announces Quarterly Earnings Results

S&P Global (NYSE:SPGI) released its quarterly earnings data on Thursday. The business services provider reported $3.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.64 by $0.25, Briefing.com reports. S&P Global had a net margin of 25.03% and a return on equity of 13.03%. The company had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.43 billion. During the same quarter in the prior year, the firm posted $3.21 earnings per share. S&P Global’s revenue for the quarter was up 15.9% on a year-over-year basis. S&P Global updated its FY 2024 guidance to 15.100-15.300 EPS and its FY24 guidance to $15.10-15.30 EPS.

S&P Global Stock Down 0.5 %

SPGI stock opened at $490.61 on Friday. The stock has a market capitalization of $153.56 billion, a P/E ratio of 46.50, a PEG ratio of 2.76 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 has a one year low of $340.49 and a one year high of $533.29. The company has a 50 day moving average price of $513.83 and a two-hundred day moving average price of $470.17.

S&P Global Announces Dividend

The company also recently announced 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. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $3.64 annualized dividend and a yield of 0.74%. S&P Global’s payout ratio is currently 34.50%.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on SPGI. Royal Bank of Canada increased their target price on shares of S&P Global from $500.00 to $552.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 31st. Bank of America increased their target price on shares of S&P Global from $530.00 to $540.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. Morgan Stanley increased their target price on shares of S&P Global from $564.00 to $570.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. UBS Group increased their target price on shares of S&P Global from $605.00 to $610.00 and gave the stock a “buy” rating in a research note on Friday. Finally, Oppenheimer increased their target price on shares of S&P Global from $540.00 to $590.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $569.77.

Insiders Place Their Bets

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 shares were sold at an average price of $481.28, for a total value of $3,687,567.36. Following the completion of the sale, the director now directly owns 15,830 shares of the company’s stock, valued at approximately $7,618,662.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 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 transaction, the director now owns 15,830 shares in the company, valued at $7,618,662.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Douglas L. Peterson sold 7,000 shares of S&P Global 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 completion of the transaction, 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 position. The disclosure for this sale can be found here. In the last three months, insiders sold 17,862 shares of company stock valued at $8,645,727. Company insiders own 0.10% 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.