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

S&P Global (NYSE:SPGI) issued its quarterly earnings results on Thursday. The business services provider reported $4.01 earnings per share for the quarter, beating analysts’ consensus estimates of $3.68 by $0.33, reports. S&P Global had a net margin of 22.01% and a return on equity of 12.20%. The firm had revenue of $3.49 billion during the quarter, compared to the consensus estimate of $3.39 billion. S&P Global updated its FY 2024 guidance to 13.850-14.100 EPS and its FY24 guidance to $13.85-14.10 EPS.

S&P Global Trading Up 0.1 %

SPGI stock opened at $415.73 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.92 and a quick ratio of 0.84. The company has a fifty day moving average price of $423.79 and a two-hundred day moving average price of $417.41. S&P Global has a one year low of $340.49 and a one year high of $461.16. The stock has a market cap of $133.14 billion, a price-to-earnings ratio of 46.61, a price-to-earnings-growth ratio of 2.36 and a beta of 1.15.

Wall Street Analyst Weigh In

SPGI has been the subject of a number of research reports. BMO Capital Markets increased 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. Royal Bank of Canada reissued an “outperform” rating and issued a $500.00 price target on shares of S&P Global in a report on Friday, February 9th. Stifel Nicolaus increased their price target on shares of S&P Global from $442.00 to $446.00 and gave the company a “buy” rating in a report on Friday. Erste Group Bank reissued a “hold” rating on shares of S&P Global in a report on Wednesday, April 3rd. Finally, Oppenheimer raised their target price on shares of S&P Global from $480.00 to $482.00 and gave the stock an “outperform” rating in a report on Friday. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $462.60.

Insiders Place Their Bets

In other S&P Global news, CEO Douglas L. Peterson sold 6,000 shares of S&P Global 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 completion of the transaction, the chief executive officer now directly owns 162,530 shares of the company’s stock, valued at $69,032,992.20. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Company insiders own 0.10% of the company’s stock.

Institutional Investors Weigh In On S&P Global

Institutional investors have recently modified their holdings of the business. Private Wealth Management Group LLC bought a new stake in shares of S&P Global in the fourth quarter valued at about $26,000. Pineridge Advisors LLC bought a new stake in shares of S&P Global in the fourth quarter valued at about $26,000. Valued Wealth Advisors LLC bought a new stake in shares of S&P Global in the fourth quarter valued at about $28,000. Oliver Lagore Vanvalin Investment Group boosted its position in shares of S&P Global by 64.1% in the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 64 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 25 shares during the period. Finally, Kathleen S. Wright Associates Inc. acquired a new position in S&P Global in the third quarter valued at about $25,000. Institutional investors own 87.17% 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.