S&P Global (NYSE:SPGI) Issues FY24 Earnings Guidance

S&P Global (NYSE:SPGI) issued an update on its FY24 earnings guidance on Thursday morning. The company provided EPS guidance of $13.85-14.10 for the period, compared to the consensus EPS 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 stock traded up $2.22 during trading hours on Thursday, hitting $415.50. 2,089,529 shares of the company’s stock were exchanged, compared to its average volume of 1,358,805. The company has a market capitalization of $133.07 billion, a PE ratio of 50.49, a PEG ratio of 2.32 and a beta of 1.15. S&P Global has a 12-month low of $338.92 and a 12-month high of $461.16. The business’s 50 day simple moving average is $423.95 and its 200-day simple moving average is $417.07. The company has a current ratio of 0.84, a quick ratio of 0.84 and a debt-to-equity ratio of 0.33.

S&P Global (NYSE:SPGI) last issued its earnings results on Thursday, February 8th. The business services provider reported $3.13 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.15 by ($0.02). S&P Global had a return on equity of 11.34% and a net margin of 21.02%. The firm had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.13 billion. During the same quarter in the prior year, the business posted $2.54 EPS. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. 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

Several brokerages have recently issued reports on SPGI. Erste Group Bank restated a hold rating on shares of S&P Global in a report on Wednesday, April 3rd. Royal Bank of Canada restated an outperform rating and issued a $500.00 target price on shares of S&P Global in a report on Friday, February 9th. Oppenheimer reiterated an outperform rating and issued a $480.00 price target on shares of S&P Global in a report on Tuesday, April 2nd. Stifel Nicolaus cut their price target on shares of S&P Global from $460.00 to $442.00 and set a buy rating on the stock in a report on Thursday, April 18th. Finally, BMO Capital Markets lifted 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. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, S&P Global currently has a consensus rating of Moderate Buy and a consensus price target of $462.00.

Insider Activity

In other news, CEO Douglas L. Peterson sold 6,000 shares of the business’s stock in a transaction 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 sale, the chief executive officer now owns 162,530 shares in the company, valued at approximately $69,032,992.20. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Company 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.