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

S&P Global (NYSE:SPGI) issued an update on its FY24 earnings guidance on Thursday morning. The company provided earnings per share guidance of $13.85-14.10 for the period, compared to the consensus earnings per share estimate of $14.10. The company issued revenue guidance of ~$13.25-13.50 billion, compared to the consensus revenue estimate of $13.43 billion. S&P Global also updated its FY 2024 guidance to 13.850-14.100 EPS.

S&P Global Price Performance

SPGI stock traded up $0.28 during midday trading on Friday, hitting $415.78. The company’s stock had a trading volume of 1,611,466 shares, compared to its average volume of 1,323,956. The company has a quick ratio of 0.84, a current ratio of 0.92 and a debt-to-equity ratio of 0.33. The firm has a market capitalization of $133.16 billion, a price-to-earnings ratio of 46.61, a price-to-earnings-growth ratio of 2.36 and a beta of 1.15. S&P Global has a 12 month low of $340.49 and a 12 month high of $461.16. The company has a 50 day moving average of $423.79 and a two-hundred day moving average of $417.41.

S&P Global (NYSE:SPGI) last posted its earnings results on Thursday, April 25th. The business services provider reported $4.01 EPS for the quarter, beating analysts’ consensus estimates of $3.68 by $0.33. The firm had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.39 billion. S&P Global had a return on equity of 12.20% and a net margin of 22.01%. On average, analysts expect that S&P Global will post 13.99 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms have weighed in on SPGI. Stifel Nicolaus increased their target price on S&P Global from $442.00 to $446.00 and gave the stock a buy rating in a research note on Friday. Barclays increased their target price on S&P Global from $500.00 to $520.00 and gave the stock an overweight rating in a research note on Tuesday, April 2nd. Royal Bank of Canada reiterated an outperform rating and issued a $500.00 target price on shares of S&P Global in a research note on Friday, February 9th. Erste Group Bank reiterated a hold rating on shares of S&P Global in a research note on Wednesday, April 3rd. Finally, BMO Capital Markets increased their target price on S&P Global from $480.00 to $483.00 and gave the stock an outperform rating in a research note on Monday, April 1st. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, S&P Global currently has an average rating of Moderate Buy and a consensus price target of $462.60.

Insider Buying and Selling

In related news, CEO Douglas L. Peterson sold 6,000 shares of S&P Global stock in a transaction dated Thursday, February 15th. The stock was sold at an average price of $424.74, for a total transaction of $2,548,440.00. Following the completion of the sale, the chief executive officer now owns 162,530 shares of the company’s stock, valued at $69,032,992.20. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 0.10% of the company’s stock.

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.