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 EPS guidance of $13.85-14.10 for the period, compared to the consensus EPS 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 Stock Up 0.1 %

Shares of SPGI traded up $0.23 during midday trading on Friday, reaching $415.73. 1,611,144 shares of the stock were exchanged, compared to its average volume of 1,361,431. The company has a market cap of $133.14 billion, a price-to-earnings ratio of 50.64, a P/E/G ratio of 2.32 and a beta of 1.15. The firm has a 50 day simple moving average of $423.95 and a 200-day simple moving average of $417.07. The company has a quick ratio of 0.84, a current ratio of 0.84 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 $461.16.

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

Analyst Upgrades and Downgrades

SPGI has been the topic of a number of research analyst reports. Royal Bank of Canada restated an outperform rating and set a $500.00 price target on shares of S&P Global in a research report on Friday, February 9th. Erste Group Bank reissued a hold rating on shares of S&P Global in a report on Wednesday, April 3rd. Stifel Nicolaus increased their price objective on S&P Global from $442.00 to $446.00 and gave the company a buy rating in a research report on Friday. BMO Capital Markets upped their price target on S&P Global from $480.00 to $483.00 and gave the company an outperform rating in a research note on Monday, April 1st. Finally, Oppenheimer raised their price objective on shares of S&P Global from $480.00 to $482.00 and gave the company an outperform rating in a research note on Friday. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat, S&P Global has an average rating of Moderate Buy and a consensus target price of $462.60.

Insider Activity at S&P Global

In related news, CEO Douglas L. Peterson sold 6,000 shares of S&P Global stock in a transaction on 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 of the company’s stock, valued at $69,032,992.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. 0.10% of the stock is owned by company insiders.

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.