Brokers Offer Predictions for S&P Global Inc.’s Q1 2024 Earnings (NYSE:SPGI)

S&P Global Inc. (NYSE:SPGI) – Stock analysts at William Blair lifted their Q1 2024 EPS estimates for S&P Global in a research note issued to investors on Monday, April 15th. William Blair analyst A. Nicholas now forecasts that the business services provider will earn $3.69 per share for the quarter, up from their previous forecast of $3.57. The consensus estimate for S&P Global’s current full-year earnings is $14.02 per share. William Blair also issued estimates for S&P Global’s Q2 2024 earnings at $3.49 EPS, FY2024 earnings at $14.00 EPS and FY2025 earnings at $15.80 EPS.

A number of other analysts have also recently weighed in on the stock. Royal Bank of Canada reissued an “outperform” rating and set a $500.00 target price on shares of S&P Global in a report on Friday, February 9th. Raymond James increased their target price on shares of S&P Global from $422.00 to $452.00 and gave the stock an “outperform” rating in a report on Tuesday, January 9th. 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. Erste Group Bank reissued a “hold” rating on shares of S&P Global in a report on Wednesday, April 3rd. Finally, Oppenheimer reissued an “outperform” rating and set a $480.00 target price on shares of S&P Global in a report on Tuesday, April 2nd. Two investment analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to data from MarketBeat, S&P Global presently has a consensus rating of “Moderate Buy” and a consensus price target of $464.22.

S&P Global Stock Up 0.9 %

Shares of NYSE:SPGI opened at $412.11 on Wednesday. The stock has a market capitalization of $131.98 billion, a price-to-earnings ratio of 50.07, a price-to-earnings-growth ratio of 2.32 and a beta of 1.15. S&P Global has a 1-year low of $338.92 and a 1-year high of $461.16. The company’s fifty day moving average is $425.70 and its two-hundred day moving average is $415.27. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.84 and a current ratio of 0.84.

S&P Global (NYSE:SPGI) last issued its earnings results on Thursday, February 8th. The business services provider reported $3.13 earnings per share for the quarter, missing analysts’ consensus estimates of $3.15 by ($0.02). The business had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.13 billion. S&P Global had a return on equity of 11.34% and a net margin of 21.02%. The firm’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period last year, the company posted $2.54 earnings per share.

Hedge Funds Weigh In On S&P Global

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. boosted its position in shares of S&P Global by 1.2% during the 4th quarter. Vanguard Group Inc. now owns 28,796,066 shares of the business services provider’s stock valued at $12,685,243,000 after purchasing an additional 339,097 shares in the last quarter. Wellington Management Group LLP boosted its position in shares of S&P Global by 13.2% during the 3rd quarter. Wellington Management Group LLP now owns 7,579,943 shares of the business services provider’s stock valued at $2,769,787,000 after purchasing an additional 881,215 shares in the last quarter. Morgan Stanley boosted its position in shares of S&P Global by 8.2% during the 3rd quarter. Morgan Stanley now owns 5,658,865 shares of the business services provider’s stock valued at $2,067,807,000 after purchasing an additional 428,737 shares in the last quarter. Capital International Investors boosted its position in shares of S&P Global by 12.6% during the 4th quarter. Capital International Investors now owns 5,502,039 shares of the business services provider’s stock valued at $2,423,762,000 after purchasing an additional 616,732 shares in the last quarter. Finally, Norges Bank bought a new position in shares of S&P Global during the 4th quarter valued at about $1,652,862,000. Institutional investors own 87.17% of the company’s stock.

Insider Buying and Selling

In related news, CEO Douglas L. Peterson sold 6,000 shares of the 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 completion of the transaction, 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 legal filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 0.10% of the company’s stock.

S&P Global Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, March 12th. Investors of record on Tuesday, February 27th were issued a $0.91 dividend. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.88%. The ex-dividend date of this dividend was Monday, February 26th. This is a boost from S&P Global’s previous quarterly dividend of $0.90. S&P Global’s dividend payout ratio (DPR) is 44.23%.

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.