S&P Global (NYSE:SPGI) Issues 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.

S&P Global Trading Up 0.1 %

NYSE SPGI traded up $0.28 during trading on Friday, hitting $415.78. The stock had a trading volume of 1,611,466 shares, compared to its average volume of 1,323,956. The company has a market capitalization of $133.16 billion, a PE ratio of 46.61, a PEG ratio of 2.36 and a beta of 1.15. 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 50 day moving average price of $423.79 and a 200 day moving average price of $417.41. S&P Global has a twelve month low of $340.49 and a twelve month high of $461.16.

S&P Global (NYSE:SPGI) last announced its quarterly earnings data on Thursday, April 25th. The business services provider reported $4.01 EPS for the quarter, topping analysts’ consensus estimates of $3.68 by $0.33. The business 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%. As a group, equities research analysts forecast that S&P Global will post 13.99 earnings per share for the current year.

Analysts Set New Price Targets

SPGI has been the topic of a number of recent analyst reports. Oppenheimer upped their price objective on S&P Global from $480.00 to $482.00 and gave the stock an outperform rating in a report on Friday. Raymond James increased their price objective on S&P Global from $422.00 to $452.00 and gave the company an outperform rating in a research note on Tuesday, January 9th. BMO Capital Markets increased their price objective 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. Erste Group Bank reaffirmed a hold rating on shares of S&P Global in a research note on Wednesday, April 3rd. Finally, Royal Bank of Canada reiterated an outperform rating and set a $500.00 target price on shares of S&P Global in a research report on Friday, February 9th. Two equities research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of Moderate Buy and an average target price of $462.60.

Insider Buying and Selling

In related news, CEO Douglas L. Peterson sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The stock was sold at an average price of $424.74, for a total value of $2,548,440.00. Following the sale, the chief executive officer now owns 162,530 shares of the company’s stock, valued at approximately $69,032,992.20. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Company 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.