$1.58 Billion in Sales Expected for S&P Global Inc (SPGI) This Quarter

Equities analysts forecast that S&P Global Inc (NYSE:SPGI) will announce sales of $1.58 billion for the current fiscal quarter, according to Zacks. Five analysts have provided estimates for S&P Global’s earnings. The lowest sales estimate is $1.56 billion and the highest is $1.61 billion. S&P Global posted sales of $1.51 billion in the same quarter last year, which would indicate a positive year-over-year growth rate of 4.6%. The business is expected to announce its next earnings report before the market opens on Thursday, October 25th.

According to Zacks, analysts expect that S&P Global will report full year sales of $6.41 billion for the current fiscal year, with estimates ranging from $6.37 billion to $6.45 billion. For the next year, analysts forecast that the business will post sales of $6.82 billion, with estimates ranging from $6.72 billion to $6.89 billion. Zacks’ sales calculations are an average based on a survey of sell-side research analysts that follow S&P Global.

S&P Global (NYSE:SPGI) last announced its quarterly earnings data on Thursday, July 26th. The business services provider reported $2.17 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.13 by $0.04. The business had revenue of $1.61 billion for the quarter, compared to the consensus estimate of $1.60 billion. S&P Global had a net margin of 25.95% and a return on equity of 333.87%. S&P Global’s quarterly revenue was up 6.6% on a year-over-year basis. During the same quarter last year, the company posted $1.72 earnings per share.

SPGI has been the topic of several research analyst reports. Morgan Stanley raised their price objective on shares of S&P Global from $214.00 to $217.00 and gave the stock a “$214.26” rating in a research note on Wednesday, July 18th. Zacks Investment Research upgraded shares of S&P Global from a “sell” rating to a “hold” rating in a research note on Friday, October 5th. Stifel Nicolaus raised their price objective on shares of S&P Global from $186.00 to $214.00 and gave the stock a “hold” rating in a research note on Friday, July 27th. ValuEngine downgraded shares of S&P Global from a “buy” rating to a “hold” rating in a research note on Tuesday, October 9th. Finally, UBS Group decreased their price target on shares of S&P Global from $242.00 to $241.00 and set a “buy” rating on the stock in a research note on Friday, September 21st. Nine equities research analysts have rated the stock with a hold rating and eight have given a buy rating to the stock. S&P Global has a consensus rating of “Hold” and a consensus price target of $208.15.

In other S&P Global news, CEO Douglas L. Peterson sold 4,000 shares of S&P Global stock in a transaction on Wednesday, August 15th. The stock was sold at an average price of $201.27, for a total transaction of $805,080.00. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Nancy Luquette sold 350 shares of S&P Global stock in a transaction on Wednesday, August 22nd. The shares were sold at an average price of $203.35, for a total value of $71,172.50. Following the transaction, the senior vice president now directly owns 531 shares of the company’s stock, valued at $107,978.85. The disclosure for this sale can be found here. 0.20% of the stock is owned by insiders.

Hedge funds and other institutional investors have recently modified their holdings of the business. Cypress Asset Management Inc. TX raised its holdings in shares of S&P Global by 240.7% in the third quarter. Cypress Asset Management Inc. TX now owns 4,855 shares of the business services provider’s stock valued at $949,000 after buying an additional 3,430 shares during the last quarter. Cornerstone Wealth Management LLC raised its holdings in shares of S&P Global by 2,342.0% in the third quarter. Cornerstone Wealth Management LLC now owns 605,482 shares of the business services provider’s stock valued at $3,804,000 after buying an additional 580,687 shares during the last quarter. Seven Eight Capital LP raised its holdings in shares of S&P Global by 921.1% in the third quarter. Seven Eight Capital LP now owns 19,400 shares of the business services provider’s stock valued at $3,791,000 after buying an additional 17,500 shares during the last quarter. Oakbrook Investments LLC bought a new position in shares of S&P Global in the third quarter valued at about $1,949,000. Finally, Aperio Group LLC raised its holdings in shares of S&P Global by 1.1% in the third quarter. Aperio Group LLC now owns 171,706 shares of the business services provider’s stock valued at $33,550,000 after buying an additional 1,940 shares during the last quarter. 83.49% of the stock is owned by institutional investors.

Shares of S&P Global stock traded up $1.42 during midday trading on Monday, hitting $188.34. The company had a trading volume of 1,151,343 shares, compared to its average volume of 1,512,588. The company has a market cap of $47.01 billion, a price-to-earnings ratio of 27.34, a PEG ratio of 1.54 and a beta of 1.19. The company has a current ratio of 1.27, a quick ratio of 1.27 and a debt-to-equity ratio of 5.75. S&P Global has a 1-year low of $153.25 and a 1-year high of $217.31.

About S&P Global

S&P Global Inc provides independent ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. It operates through three segments: Ratings, Market and Commodities Intelligence, and S&P Dow Jones Indices. The Ratings segment provides credit ratings, research, and analytics to investors, issuers, and other market participants.

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