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

S&P Global (NYSE:SPGI) issued an update on its FY 2024 earnings guidance on Thursday morning. The company provided earnings per share guidance of 13.850-14.100 for the period, compared to the consensus earnings per share estimate of 14.170. The company issued revenue guidance of $13.2 billion-$13.5 billion, compared to the consensus revenue estimate of $13.5 billion.

S&P Global Price Performance

SPGI traded down $5.45 during trading on Friday, reaching $443.46. The stock had a trading volume of 119,406 shares, compared to its average volume of 1,271,397. The stock has a market cap of $138.76 billion, a PE ratio of 50.33, a PEG ratio of 2.49 and a beta of 1.15. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.92 and a current ratio of 0.92. S&P Global has a one year low of $340.49 and a one year high of $461.16. The business has a 50-day moving average of $430.07 and a 200-day moving average of $431.44.

S&P Global (NYSE:SPGI) last released its earnings results 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. The business had revenue of $3.49 billion for the quarter, compared to analysts’ expectations of $3.39 billion. S&P Global had a return on equity of 12.20% and a net margin of 22.01%. As a group, equities research analysts anticipate that S&P Global will post 14.1 EPS for the current fiscal year.

S&P Global Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 11th. Shareholders of record on Tuesday, August 27th will be given a dividend of $0.91 per share. The ex-dividend date is Tuesday, August 27th. This represents a $3.64 annualized dividend and a yield of 0.82%. S&P Global’s payout ratio is 40.81%.

Analyst Upgrades and Downgrades

SPGI has been the subject of several analyst reports. Royal Bank of Canada restated an outperform rating and set a $500.00 price target on shares of S&P Global in a research report on Friday, June 21st. 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, April 26th. 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, April 26th. 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. Finally, BMO Capital Markets increased their target price on shares of S&P Global from $480.00 to $483.00 and gave the stock an outperform rating in a report on Monday, April 1st. Two research analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of Moderate Buy and a consensus target price of $467.89.

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.