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 %

Shares of NYSE:SPGI traded up $0.28 during midday trading on Friday, hitting $415.78. The company had a trading volume of 1,611,466 shares, compared to its average volume of 1,323,956. S&P Global has a 12 month low of $340.49 and a 12 month high of $461.16. The company has a current ratio of 0.92, a quick ratio of 0.84 and a debt-to-equity ratio of 0.33. The stock has a market cap of $133.16 billion, a price-to-earnings ratio of 46.61, a PEG ratio of 2.36 and a beta of 1.15. The firm has a fifty day simple moving average of $423.79 and a 200 day simple moving average of $417.41.

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

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Raymond James lifted their target price on S&P Global from $422.00 to $452.00 and gave the stock an outperform rating in a report on Tuesday, January 9th. Royal Bank of Canada reiterated an outperform rating and set a $500.00 target price on shares of S&P Global in a report on Friday, February 9th. Erste Group Bank reiterated a hold rating on shares of S&P Global in a report on Wednesday, April 3rd. Stifel Nicolaus lifted their target price on S&P Global from $442.00 to $446.00 and gave the stock a buy rating in a report on Friday. Finally, Barclays lifted their target price on S&P Global from $500.00 to $520.00 and gave the stock an overweight rating in a report on Tuesday, April 2nd. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average 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 dated 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 $69,032,992.20. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 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.