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

S&P Global (NYSE:SPGI - Get Free Report) 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.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Stifel Nicolaus lowered 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 research report on Thursday, April 18th. Raymond James boosted their price objective 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. Erste Group Bank reissued a hold rating on shares of S&P Global in a research report on Wednesday, April 3rd. BMO Capital Markets increased their price target on shares of S&P Global from $480.00 to $483.00 and gave the stock an outperform rating in a research note on Monday, April 1st. Finally, Oppenheimer restated an outperform rating and set a $480.00 price target on shares of S&P Global in a research note on Tuesday, April 2nd. Two investment analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat, S&P Global presently has an average rating of Moderate Buy and an average price target of $462.00.

S&P Global Price Performance

SPGI stock traded up $2.22 during trading on Thursday, hitting $415.50. 2,089,529 shares of the stock traded hands, compared to its average volume of 1,358,805. S&P Global has a one year low of $338.92 and a one year high of $461.16. The stock has a market cap of $133.07 billion, a price-to-earnings ratio of 50.22, a P/E/G ratio of 2.32 and a beta of 1.15. The company has a 50 day simple moving average of $424.13 and a 200 day simple moving average of $417.08. 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 - Get Free Report) last posted its quarterly earnings data on Thursday, February 8th. The business services provider reported $3.13 earnings per share for the quarter, missing the consensus estimate of $3.15 by ($0.02). The company had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.13 billion. S&P Global had a net margin of 21.02% and a return on equity of 11.34%. The company's revenue was up 7.3% compared to the same quarter last year. During the same quarter in the previous year, the business posted $2.54 EPS. Equities analysts expect that S&P Global will post 14.11 EPS for the current fiscal year.

Insider Transactions at S&P Global

In other 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 transaction of $2,548,440.00. Following the completion of 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 filing with the SEC, which can be accessed through this link. 0.10% of the stock is owned by corporate 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.