Q1 2024 Earnings Estimate for S&P Global Inc. Issued By William Blair (NYSE:SPGI)

S&P Global Inc. (NYSE:SPGI) – Equities research analysts at William Blair raised their Q1 2024 earnings per share (EPS) estimates for S&P Global in a report issued on Monday, April 15th. William Blair analyst A. Nicholas now forecasts that the business services provider will post earnings per share of $3.69 for the quarter, up from their previous forecast of $3.57. The consensus estimate for S&P Global’s current full-year earnings is $14.02 per share. William Blair also issued estimates for S&P Global’s Q2 2024 earnings at $3.49 EPS, FY2024 earnings at $14.00 EPS and FY2025 earnings at $15.80 EPS.

S&P Global (NYSE:SPGI) last released its quarterly earnings data on Thursday, February 8th. The business services provider reported $3.13 EPS for the quarter, missing the consensus estimate of $3.15 by ($0.02). S&P Global had a return on equity of 11.34% and a net margin of 21.02%. The business had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the previous year, the business posted $2.54 earnings per share. S&P Global’s quarterly revenue was up 7.3% compared to the same quarter last year.

Several other equities research analysts also recently commented on the company. Erste Group Bank reiterated a “hold” rating on shares of S&P Global in a report on Wednesday, April 3rd. Royal Bank of Canada restated an “outperform” rating and set a $500.00 price target on shares of S&P Global in a research note on Friday, February 9th. Raymond James boosted their price target 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. Barclays boosted their price target on S&P Global from $500.00 to $520.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Finally, BMO Capital Markets boosted 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. Two investment analysts have rated the stock with a hold rating and ten have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $464.22.

S&P Global Stock Performance

NYSE SPGI traded up $3.55 during trading hours on Wednesday, hitting $412.11. The company’s stock had a trading volume of 845,251 shares, compared to its average volume of 1,309,081. S&P Global has a 12 month low of $338.92 and a 12 month high of $461.16. The company’s 50 day simple moving average is $426.65 and its two-hundred day simple moving average is $415.29. The company has a market cap of $131.98 billion, a P/E ratio of 49.64, a price-to-earnings-growth ratio of 2.32 and a beta of 1.15. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.84 and a quick ratio of 0.84.

S&P Global Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, February 27th were issued a $0.91 dividend. The ex-dividend date of this dividend was Monday, February 26th. This is a boost from S&P Global’s previous quarterly dividend of $0.90. This represents a $3.64 dividend on an annualized basis and a yield of 0.88%. S&P Global’s payout ratio is currently 44.23%.

Insider Buying and Selling

In related news, CEO Douglas L. Peterson sold 6,000 shares of the business’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 transaction, the chief executive officer now directly owns 162,530 shares of the company’s stock, 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. 0.10% of the stock is owned by insiders.

Institutional Trading of S&P Global

A number of large investors have recently added to or reduced their stakes in SPGI. BCK Partners Inc. bought a new stake in S&P Global in the 1st quarter worth approximately $1,969,000. Markel Corp increased its position in shares of S&P Global by 0.8% during the 1st quarter. Markel Corp now owns 149,790 shares of the business services provider’s stock valued at $61,441,000 after purchasing an additional 1,250 shares during the last quarter. Synovus Financial Corp increased its position in shares of S&P Global by 1.6% during the 1st quarter. Synovus Financial Corp now owns 2,239 shares of the business services provider’s stock valued at $919,000 after purchasing an additional 36 shares during the last quarter. Sequoia Financial Advisors LLC increased its position in shares of S&P Global by 115.4% during the 1st quarter. Sequoia Financial Advisors LLC now owns 2,154 shares of the business services provider’s stock valued at $883,000 after purchasing an additional 1,154 shares during the last quarter. Finally, Empirical Financial Services LLC d.b.a. Empirical Wealth Management increased its position in shares of S&P Global by 12.4% during the 1st quarter. Empirical Financial Services LLC d.b.a. Empirical Wealth Management now owns 736 shares of the business services provider’s stock valued at $302,000 after purchasing an additional 81 shares during the last quarter. Institutional investors own 87.17% 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.