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

S&P Global (NYSE:SPGI) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $15.10-15.30 for the period, compared to the consensus EPS 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.

S&P Global Stock Down 0.5 %

SPGI stock traded down $2.60 during midday trading on Friday, hitting $490.61. 949,973 shares of the company’s stock were exchanged, compared to its average volume of 1,198,444. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.33. S&P Global has a 12-month low of $340.49 and a 12-month high of $533.29. The firm has a 50 day moving average price of $513.83 and a 200-day moving average price of $470.17. The stock has a market capitalization of $153.56 billion, a price-to-earnings ratio of 46.36, a price-to-earnings-growth ratio of 2.76 and a beta of 1.18.

S&P Global (NYSE:SPGI) last posted its quarterly earnings data on Thursday, October 24th. The business services provider reported $3.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.64 by $0.25. S&P Global had a return on equity of 13.03% and a net margin of 25.03%. The company had revenue of $3.58 billion for the quarter, compared to the consensus estimate of $3.43 billion. During the same period in the previous year, the business earned $3.21 EPS. S&P Global’s revenue for the quarter was up 15.9% compared to the same quarter last year. On average, analysts anticipate that S&P Global will post 14.79 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. Shareholders of record on Tuesday, November 26th will be issued a dividend of $0.91 per share. The ex-dividend date is Tuesday, November 26th. This represents a $3.64 annualized dividend and a yield of 0.74%. S&P Global’s dividend payout ratio is presently 34.50%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Barclays boosted 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. BMO Capital Markets lowered their price target on S&P Global from $589.00 to $564.00 and set an “outperform” rating for the company in a report on Friday. Stifel Nicolaus boosted their price target on S&P Global from $535.00 to $540.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Raymond James downgraded S&P Global from an “outperform” rating to a “market perform” rating in a report on Monday, September 23rd. Finally, Royal Bank of Canada boosted their price target 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 investment analysts have rated the stock with a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $565.54.

Insiders Place Their Bets

In other S&P Global news, EVP Steven J. Kemps sold 2,700 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was 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 owns 1,455 shares in the company, valued at approximately $715,205.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other S&P Global news, EVP Steven J. Kemps sold 2,700 shares of the business’s stock in a transaction on Wednesday, July 31st. The stock was 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 owns 1,455 shares in the company, valued at approximately $715,205.25. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Robert P. Kelly sold 7,662 shares of the business’s stock in a transaction 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 transaction, the director now owns 15,830 shares of the company’s stock, valued at $7,618,662.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 17,862 shares of company stock worth $8,645,727. 0.10% of the stock is owned by company 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.