S&P Global (NYSE:SPGI) Releases FY 2024 Earnings Guidance

S&P Global (NYSE:SPGI) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided EPS guidance of 13.850-14.100 for the period, compared to the consensus EPS estimate of 14.110. The company issued revenue guidance of $13.2 billion-$13.5 billion, compared to the consensus revenue estimate of $13.4 billion. S&P Global also updated its FY24 guidance to $13.85-14.10 EPS.

Wall Street Analyst Weigh In

SPGI has been the topic of a number of analyst reports. Stifel Nicolaus lifted their price objective on shares of S&P Global from $442.00 to $446.00 and gave the stock a buy rating in a research report on Friday. Erste Group Bank reiterated a hold rating on shares of S&P Global in a report on Wednesday, April 3rd. Barclays raised their price objective on S&P Global from $500.00 to $520.00 and gave the stock an overweight rating in a research report on Tuesday, April 2nd. Oppenheimer upped their target price on S&P Global from $480.00 to $482.00 and gave the company an outperform rating in a research report on Friday. Finally, Raymond James boosted their price target on S&P Global from $422.00 to $452.00 and gave the stock an outperform rating in a research note on Tuesday, January 9th. Two equities research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus price target of $462.60.

S&P Global Stock Performance

SPGI traded up $0.23 during trading on Friday, reaching $415.73. 1,611,144 shares of the company’s stock were exchanged, compared to its average volume of 1,361,431. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.84 and a quick ratio of 0.84. The company’s fifty day simple moving average is $423.95 and its 200-day simple moving average is $417.07. S&P Global has a 1 year low of $340.49 and a 1 year high of $461.16. The stock has a market capitalization of $133.14 billion, a P/E ratio of 50.64, a price-to-earnings-growth ratio of 2.32 and a beta of 1.15.

S&P Global (NYSE:SPGI) last released its quarterly earnings data on Thursday, April 25th. The business services provider reported $4.01 earnings per share for the quarter, beating analysts’ consensus estimates of $3.68 by $0.33. S&P Global had a return on equity of 11.34% and a net margin of 21.02%. The business had revenue of $3.49 billion during the quarter, compared to analyst estimates of $3.39 billion. As a group, research analysts predict that S&P Global will post 14.11 earnings per share for the current fiscal year.

Insider Activity

In related news, CEO Douglas L. Peterson sold 6,000 shares of the company’s stock in a transaction dated Thursday, February 15th. The shares were sold at an average price of $424.74, for a total transaction of $2,548,440.00. Following the completion of the transaction, the chief executive officer now owns 162,530 shares in the company, valued at approximately $69,032,992.20. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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.