S&P Global (NYSE:SPGI) Issues Earnings Results

S&P Global (NYSE:SPGI) released its earnings results on Thursday. The business services provider reported $3.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.64 by $0.25, Briefing.com reports. S&P Global had a net margin of 25.03% and a return on equity of 13.03%. The company had revenue of $3.58 billion for the quarter, compared to analyst estimates of $3.43 billion. During the same period in the prior year, the business earned $3.21 EPS. The firm’s quarterly revenue was up 15.9% on a year-over-year basis. S&P Global updated its FY 2024 guidance to 15.100-15.300 EPS and its FY24 guidance to $15.10-15.30 EPS.

S&P Global Stock Performance

Shares of NYSE:SPGI traded down $2.60 during midday trading on Friday, hitting $490.61. The stock had a trading volume of 949,973 shares, compared to its average volume of 1,198,444. The company has a market capitalization of $153.56 billion, a PE ratio of 46.36, a P/E/G ratio of 2.76 and a beta of 1.18. The stock has a 50 day moving average price of $513.83 and a two-hundred day moving average price of $470.17. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.33. S&P Global has a 1 year low of $340.49 and a 1 year high of $533.29.

S&P Global Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Tuesday, November 26th will be issued a $0.91 dividend. This represents a $3.64 annualized dividend and a dividend yield of 0.74%. The ex-dividend date is Tuesday, November 26th. S&P Global’s payout ratio is 34.50%.

Insider Activity

In other news, insider Edouard Tavernier sold 500 shares of S&P Global stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total value of $245,775.00. Following the sale, the insider now owns 13,217 shares of the company’s stock, valued at $6,496,816.35. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, EVP Steven J. Kemps sold 2,700 shares of the business’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total transaction of $1,327,185.00. Following the sale, the executive vice president now owns 1,455 shares of the company’s stock, valued at approximately $715,205.25. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, insider Edouard Tavernier sold 500 shares of S&P Global stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $491.55, for a total transaction of $245,775.00. Following the transaction, the insider now owns 13,217 shares of the company’s stock, valued at approximately $6,496,816.35. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 17,862 shares of company stock valued at $8,645,727 over the last quarter. Corporate insiders own 0.10% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. BMO Capital Markets reduced their price objective on shares of S&P Global from $589.00 to $564.00 and set an “outperform” rating on the stock in a report on Friday. Robert W. Baird raised their price objective on shares of S&P Global from $536.00 to $575.00 and gave the company an “outperform” rating in a report on Friday. Bank of America raised their price objective on shares of S&P Global from $530.00 to $540.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. JPMorgan Chase & Co. cut their price target on shares of S&P Global from $600.00 to $585.00 and set an “overweight” rating on the stock in a research note on Friday. Finally, UBS Group lifted their price target on shares of S&P Global from $505.00 to $555.00 and gave the stock a “buy” rating in a research note on Tuesday, July 9th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $565.54.

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.