S&P Global (NYSE:SPGI) Updates FY 2024 Earnings Guidance

S&P Global (NYSE:SPGI) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share guidance of 13.850-14.100 for the period, compared to the consensus earnings per share 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.

Wall Street Analysts Forecast Growth

Several analysts recently commented on SPGI shares. Oppenheimer upped their price target on shares of S&P Global from $480.00 to $482.00 and gave the company an outperform rating in a research report on Friday. Raymond James upped their price target on shares of S&P Global from $422.00 to $452.00 and gave the company an outperform rating in a research report on Tuesday, January 9th. Stifel Nicolaus upped their price target on shares of S&P Global from $442.00 to $446.00 and gave the company a buy rating in a research report on Friday. Erste Group Bank reiterated a hold rating on shares of S&P Global in a research report on Wednesday, April 3rd. Finally, Barclays upped their price target on shares of S&P Global from $500.00 to $520.00 and gave the company an overweight rating in a research report on Tuesday, April 2nd. Two equities research analysts have rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $462.60.

S&P Global Stock Performance

Shares of SPGI opened at $415.78 on Friday. The firm has a 50-day moving average price of $423.79 and a 200 day moving average price of $417.74. The firm has a market capitalization of $133.16 billion, a PE ratio of 46.61, a P/E/G ratio of 2.36 and a beta of 1.15. 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 has a 52-week low of $340.49 and a 52-week high of $461.16.

S&P Global (NYSE:SPGI) last posted its quarterly earnings data 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. S&P Global had a net margin of 22.01% and a return on equity of 12.20%. The business had revenue of $3.49 billion for the quarter, compared to analyst estimates of $3.39 billion. On average, sell-side analysts anticipate that S&P Global will post 14.03 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other S&P Global news, CEO Douglas L. Peterson sold 6,000 shares of S&P Global stock in a transaction that occurred on Thursday, February 15th. The shares were 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 at this link. 0.10% of the stock is currently 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.