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 earnings per share guidance of $13.85-14.10 for the period, compared to the consensus earnings per share 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 Performance

Shares of SPGI stock traded up $0.28 during trading hours on Friday, reaching $415.78. 1,611,466 shares of the company’s stock were exchanged, compared to its average volume of 1,323,956. S&P Global has a fifty-two week low of $340.49 and a fifty-two week high of $461.16. The stock has a market capitalization of $133.16 billion, a P/E ratio of 46.61, a P/E/G ratio of 2.36 and a beta of 1.15. The business has a fifty day moving average price of $423.79 and a 200-day moving average price of $417.41. The company has a quick ratio of 0.84, a current ratio of 0.92 and a debt-to-equity ratio of 0.33.

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

Analysts Set New Price Targets

A number of research analysts recently commented on SPGI shares. Stifel Nicolaus upped their target price on S&P Global from $442.00 to $446.00 and gave the company a buy rating in a research note on Friday. BMO Capital Markets upped their target price 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. Barclays upped their price target on S&P Global from $500.00 to $520.00 and gave the company an overweight rating in a research report on Tuesday, April 2nd. Royal Bank of Canada reiterated an outperform rating and issued a $500.00 price target on shares of S&P Global in a research report on Friday, February 9th. Finally, Oppenheimer upped their price target on S&P Global from $480.00 to $482.00 and gave the company an outperform rating in a research report on Friday. Two analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat, S&P Global presently has a consensus rating of Moderate Buy and an average price target of $462.60.

Insider Activity at S&P Global

In related news, CEO Douglas L. Peterson sold 6,000 shares of the firm’s 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 transaction, the chief executive officer now owns 162,530 shares in the company, 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.

About S&P Global

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.