S&P Global (NYSE:SPGI) Releases 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.

Analyst Ratings Changes

Several analysts have weighed in on SPGI shares. Bank of America lifted their price objective 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. Barclays boosted their price target on S&P Global from $550.00 to $610.00 and gave the company an “overweight” rating in a research note on Friday, September 13th. Evercore ISI assumed coverage on S&P Global in a research note on Wednesday, October 2nd. They set an “outperform” rating and a $599.00 price objective on the stock. Raymond James downgraded S&P Global from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Finally, UBS Group raised their price target on S&P Global from $505.00 to $555.00 and gave the stock a “buy” rating in a research report on Tuesday, July 9th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $565.17.

S&P Global Price Performance

Shares of SPGI traded down $17.82 during mid-day trading on Thursday, reaching $493.10. The company had a trading volume of 1,760,637 shares, compared to its average volume of 1,199,645. The company’s 50 day simple moving average is $513.82 and its 200 day simple moving average is $470.01. The company has a market capitalization of $154.29 billion, a price-to-earnings ratio of 55.28, a P/E/G ratio of 2.91 and a beta of 1.18. S&P Global has a 1-year low of $340.49 and a 1-year high of $533.29. 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 (NYSE:SPGI) last issued its 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. The firm had revenue of $3.55 billion for the quarter, compared to analyst estimates of $3.42 billion. S&P Global had a net margin of 25.03% and a return on equity of 13.03%. The company’s quarterly revenue was up 14.4% on a year-over-year basis. During the same quarter last year, the business posted $3.12 earnings per share. Analysts expect that S&P Global will post 14.61 EPS for the current year.

S&P Global Dividend Announcement

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 issued a $0.91 dividend. The ex-dividend date of this dividend is Tuesday, November 26th. This represents a $3.64 dividend on an annualized basis and a yield of 0.74%. S&P Global’s payout ratio is presently 40.81%.

Insider Buying and Selling at S&P Global

In related news, EVP Steven J. Kemps sold 2,700 shares of S&P Global stock in a transaction that occurred on 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 sale, 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 position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, EVP Steven J. Kemps sold 2,700 shares of the stock in a transaction on Wednesday, July 31st. The stock was 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 $715,205.25. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Robert P. Kelly sold 7,662 shares of S&P Global stock in a transaction dated 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 directly owns 15,830 shares in the company, valued at $7,618,662.40. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 17,862 shares of company stock worth $8,645,727. 0.10% of the stock is currently owned by 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.