S&P Global (NYSE:SPGI – Get Free Report) updated its FY 2024 earnings guidance on Thursday. The company provided earnings per share (EPS) guidance of 13.850-14.100 for the period, compared to the consensus 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.
Analysts Set New Price Targets
Several research firms have recently weighed in on SPGI. 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. Barclays upped their target price on shares of S&P Global from $500.00 to $520.00 and gave the stock an overweight rating in a report on Tuesday, April 2nd. Erste Group Bank reissued a hold rating on shares of S&P Global in a report on Wednesday, April 3rd. Oppenheimer reissued an outperform rating and set a $480.00 price objective on shares of S&P Global in a report on Tuesday, April 2nd. Finally, Stifel Nicolaus decreased their price objective 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. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of Moderate Buy and a consensus target price of $462.00.
Get Our Latest Stock Analysis on SPGI
S&P Global Trading Up 0.5 %
S&P Global (NYSE:SPGI – Get Free Report) 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). The business had revenue of $3.15 billion during the quarter, compared to the consensus estimate of $3.13 billion. S&P Global had a net margin of 21.02% and a return on equity of 11.34%. The firm’s revenue for the quarter was up 7.3% compared to the same quarter last year. During the same period last year, the business posted $2.54 EPS. On average, sell-side analysts anticipate that S&P Global will post 14.11 earnings per share for the current fiscal year.
Insider Activity
In other news, CEO Douglas L. Peterson sold 6,000 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $69,032,992.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 0.10% of the company’s stock.
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.
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