S&P Global (NYSE:SPGI) Issues Quarterly Earnings Results, Beats Estimates By $0.25 EPS

S&P Global (NYSE:SPGI) issued its quarterly earnings data on Thursday. The business services provider reported $3.89 EPS for the quarter, beating the consensus estimate of $3.64 by $0.25, Briefing.com reports. The business had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.43 billion. S&P Global had a net margin of 25.03% and a return on equity of 13.03%. The firm’s revenue was up 15.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.21 EPS. 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 %

NYSE:SPGI traded down $2.60 during trading hours on Friday, reaching $490.61. The company had a trading volume of 949,973 shares, compared to its average volume of 1,198,444. 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 firm has a market cap of $153.56 billion, a price-to-earnings ratio of 46.36, a P/E/G ratio of 2.76 and a beta of 1.18. The business’s 50-day simple moving average is $513.83 and its two-hundred day simple moving average is $470.17. S&P Global has a twelve month low of $340.49 and a twelve month high of $533.29.

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 issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a yield of 0.74%. The ex-dividend date is Tuesday, November 26th. S&P Global’s payout ratio is 34.50%.

Insiders Place Their Bets

In other S&P Global news, EVP Steven J. Kemps sold 2,700 shares of the firm’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total value of $1,327,185.00. Following the completion of the sale, the executive vice president now directly owns 1,455 shares in the company, valued at approximately $715,205.25. 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 news, EVP Steven J. Kemps sold 2,700 shares of S&P Global stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total transaction of $1,327,185.00. Following the completion of the transaction, the executive vice president now directly owns 1,455 shares in the company, valued at $715,205.25. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Edouard Tavernier sold 500 shares of S&P Global stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total transaction of $245,775.00. Following the transaction, the insider now owns 13,217 shares of the company’s stock, valued at $6,496,816.35. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 17,862 shares of company stock worth $8,645,727. 0.10% of the stock is currently owned by company insiders.

Analyst Ratings Changes

SPGI has been the subject of several analyst reports. Bank of America raised their price target on shares of S&P Global from $530.00 to $540.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Robert W. Baird raised their price target on shares of S&P Global from $536.00 to $575.00 and gave the company an “outperform” rating in a research note on Friday. UBS Group raised their price target on shares of S&P Global from $505.00 to $555.00 and gave the company a “buy” rating in a research note on Tuesday, July 9th. JPMorgan Chase & Co. decreased their price objective on shares of S&P Global from $600.00 to $585.00 and set an “overweight” rating for the company in a research report on Friday. Finally, Stifel Nicolaus increased their price objective on shares of S&P Global from $535.00 to $540.00 and gave the stock a “buy” rating in a research report on Wednesday, July 31st. Two investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $565.54.

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.