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

S&P Global (NYSE:SPGI) announced its quarterly earnings data on Thursday. The business services provider reported $3.89 earnings per share 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 firm had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.43 billion. During the same quarter in the prior year, the business earned $3.21 earnings per share. The business’s quarterly revenue was up 15.9% compared to the same quarter last year. 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 0.7 %

NYSE:SPGI traded down $3.62 during mid-day trading on Friday, hitting $489.59. 464,484 shares of the company’s stock were exchanged, compared to its average volume of 1,196,099. S&P Global has a one year low of $340.49 and a one year high of $533.29. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.03 and a quick ratio of 1.03. The business has a fifty day moving average price of $513.82 and a 200 day moving average price of $470.01. The company has a market cap of $153.24 billion, a PE ratio of 46.64, a P/E/G ratio of 2.76 and a beta of 1.18.

S&P Global Announces Dividend

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 paid a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 0.74%. The ex-dividend date of this dividend is Tuesday, November 26th. S&P Global’s payout ratio is currently 34.50%.

Insider Buying and Selling

In other news, Director Robert P. Kelly sold 7,662 shares of the company’s 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 transaction, the director now owns 15,830 shares in the company, valued at approximately $7,618,662.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Robert P. Kelly sold 7,662 shares of the 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 directly owns 15,830 shares of the company’s stock, valued at $7,618,662.40. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Douglas L. Peterson sold 7,000 shares of the 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 transaction, the chief executive officer now owns 154,912 shares of the company’s stock, valued at $74,915,443.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,862 shares of company stock valued at $8,645,727 over the last quarter. Corporate insiders own 0.10% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have recently weighed in on SPGI shares. Stifel Nicolaus upped their price objective on shares of S&P Global from $535.00 to $540.00 and gave the company a “buy” rating in a report on Wednesday, July 31st. Royal Bank of Canada upped their target price on shares of S&P Global from $500.00 to $552.00 and gave the stock an “outperform” rating in a report on Wednesday, July 31st. UBS Group upped their target price on shares of S&P Global from $505.00 to $555.00 and gave the stock a “buy” rating in a report on Tuesday, July 9th. Oppenheimer upped their target price on shares of S&P Global from $540.00 to $590.00 and gave the stock an “outperform” rating in a report on Thursday, October 3rd. Finally, Morgan Stanley upped their target price on shares of S&P Global from $564.00 to $570.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Two analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $565.54.

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.