S&P Global (NYSE:SPGI) Updates FY24 Earnings Guidance

S&P Global (NYSE:SPGI) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $15.10-15.30 for the period, compared to the consensus earnings per share 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.

Analyst Ratings Changes

Several research firms have issued reports on SPGI. Wells Fargo & Company increased their price objective on shares of S&P Global from $575.00 to $620.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. BMO Capital Markets increased their price objective on shares of S&P Global from $537.00 to $589.00 and gave the company an “outperform” rating in a report on Tuesday, October 15th. Raymond James downgraded shares of S&P Global from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Royal Bank of Canada increased their price objective on shares of S&P Global from $500.00 to $552.00 and gave the company an “outperform” rating in a report on Wednesday, July 31st. Finally, Morgan Stanley increased their price objective on shares of S&P Global from $564.00 to $570.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $565.17.

S&P Global Price Performance

Shares of SPGI opened at $510.92 on Thursday. S&P Global has a 1-year low of $340.49 and a 1-year high of $533.29. The stock has a market cap of $159.87 billion, a PE ratio of 57.28, a P/E/G ratio of 2.91 and a beta of 1.18. The firm has a 50-day simple moving average of $513.82 and a two-hundred day simple moving average of $470.01. 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 announced its quarterly 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 analysts’ expectations of $3.42 billion. During the same period last year, the business earned $3.12 earnings per share. The business’s revenue for the quarter was up 14.4% on a year-over-year basis. As a group, analysts forecast that S&P Global will post 14.61 EPS 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. Investors of record on Tuesday, November 26th will be issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.71%. The ex-dividend date is Tuesday, November 26th. S&P Global’s dividend payout ratio (DPR) is currently 40.81%.

Insider Activity at S&P Global

In other S&P Global news, CEO Douglas L. Peterson sold 7,000 shares of the business’s stock in a transaction that occurred 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 $74,915,443.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In related news, Director Robert P. Kelly sold 7,662 shares of the company’s 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 completion of 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Douglas L. Peterson sold 7,000 shares of the company’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 completion of the sale, the chief executive officer now owns 154,912 shares of the company’s stock, 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. Over the last quarter, insiders sold 17,862 shares of company stock worth $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.