S&P Global (NYSE:SPGI) Releases 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 (EPS) guidance of $13.85-14.10 for the period, compared to the consensus 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 Price Performance

Shares of SPGI opened at $413.28 on Thursday. S&P Global has a fifty-two week low of $338.92 and a fifty-two week high of $461.16. The company has a market capitalization of $132.36 billion, a price-to-earnings ratio of 50.22, a price-to-earnings-growth ratio of 2.32 and a beta of 1.15. The firm has a 50-day simple moving average of $424.13 and a 200-day simple moving average of $417.08. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.84 and a current ratio of 0.84.

S&P Global (NYSE:SPGI) last announced its earnings results on Thursday, February 8th. The business services provider reported $3.13 earnings per share for the quarter, missing the consensus estimate of $3.15 by ($0.02). The business had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.13 billion. S&P Global had a return on equity of 11.34% and a net margin of 21.02%. S&P Global’s quarterly revenue was up 7.3% on a year-over-year basis. During the same quarter last year, the company posted $2.54 EPS. On average, equities research analysts anticipate that S&P Global will post 14.11 earnings per share for the current year.

Analysts Set New Price Targets

A number of brokerages recently commented on SPGI. Oppenheimer restated an outperform rating and issued a $480.00 price objective on shares of S&P Global in a research report on Tuesday, April 2nd. Stifel Nicolaus dropped their target price on shares of S&P Global from $460.00 to $442.00 and set a buy rating for the company in a report on Thursday, April 18th. BMO Capital Markets increased their target price on shares of S&P Global from $480.00 to $483.00 and gave the company an outperform rating in a report on Monday, April 1st. Royal Bank of Canada reaffirmed an outperform rating and issued a $500.00 target price on shares of S&P Global in a report on Friday, February 9th. Finally, Barclays increased their target price on shares of S&P Global from $500.00 to $520.00 and gave the company an overweight rating in a report on Tuesday, April 2nd. Two analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat, S&P Global currently has a consensus rating of Moderate Buy and an average target price of $462.00.

Insider Transactions at S&P Global

In other news, CEO Douglas L. Peterson sold 6,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 15th. The shares were sold at an average price of $424.74, for a total transaction of $2,548,440.00. Following the completion of 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 sale was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 0.10% of the company’s stock.

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.