S&P Global (NYSE:SPGI) Issues Quarterly Earnings Results

S&P Global (NYSE:SPGI) issued its earnings results on Thursday. The business services provider reported $4.01 earnings per share for the quarter, topping the consensus estimate of $3.68 by $0.33, reports. The company had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.39 billion. S&P Global had a return on equity of 12.20% and a net margin of 22.01%. S&P Global updated its FY 2024 guidance to 13.850-14.100 EPS and its FY24 guidance to $13.85-14.10 EPS.

S&P Global Stock Up 0.1 %

SPGI stock opened at $415.78 on Friday. The stock has a market cap of $133.16 billion, a PE ratio of 46.61, a price-to-earnings-growth ratio of 2.36 and a beta of 1.15. The firm’s 50-day simple moving average is $423.79 and its 200 day simple moving average is $417.74. S&P Global has a fifty-two week low of $340.49 and a fifty-two week high of $461.16. The company has a quick ratio of 0.84, a current ratio of 0.92 and a debt-to-equity ratio of 0.33.

Analyst Upgrades and Downgrades

SPGI has been the subject of a number of recent analyst reports. Oppenheimer raised their price target on shares of S&P Global from $480.00 to $482.00 and gave the company an “outperform” rating in a report on Friday. Raymond James lifted their price objective 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 research note on Friday, February 9th. BMO Capital Markets upped their price target 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. Finally, Stifel Nicolaus raised their price objective on shares of S&P Global from $442.00 to $446.00 and gave the stock a “buy” rating in a report on Friday. Two investment analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $462.60.

Insider Buying and Selling at S&P Global

In related news, CEO Douglas L. Peterson sold 6,000 shares of the 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 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 Securities & Exchange Commission, which is accessible through this link. 0.10% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On S&P Global

Several institutional investors have recently bought and sold shares of the stock. Private Wealth Management Group LLC bought a new position in S&P Global during the 4th quarter valued at $26,000. Pineridge Advisors LLC bought a new position in S&P Global during the fourth quarter valued at about $26,000. Valued Wealth Advisors LLC acquired a new position in S&P Global during the fourth quarter worth about $28,000. Oliver Lagore Vanvalin Investment Group raised its position in S&P Global by 64.1% in the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 64 shares of the business services provider’s stock worth $28,000 after acquiring an additional 25 shares in the last quarter. Finally, Kathleen S. Wright Associates Inc. acquired a new stake in S&P Global in the 3rd quarter valued at about $25,000. Institutional investors and hedge funds own 87.17% 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.