S&P Global (SPGI) to Release Quarterly Earnings on Thursday

S&P Global (NYSE:SPGI) is scheduled to release its earnings data before the market opens on Thursday, April 25th. Analysts expect S&P Global to post earnings of $3.46 per share for the quarter. S&P Global has set its FY24 guidance at $13.75-14.00 EPS and its FY 2024 guidance at 13.750-14.000 EPS.Parties interested in participating in the company’s conference call can do so using this link.

S&P Global (NYSE:SPGI) last announced its earnings results on Thursday, February 8th. The business services provider reported $3.13 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.15 by ($0.02). S&P Global had a return on equity of 11.34% and a net margin of 21.02%. The firm had revenue of $3.15 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter last year, the business posted $2.54 EPS. The firm’s revenue was up 7.3% compared to the same quarter last year. On average, analysts expect S&P Global to post $14 EPS for the current fiscal year and $16 EPS for the next fiscal year.

S&P Global Stock Up 0.9 %

Shares of NYSE SPGI opened at $412.11 on Thursday. S&P Global has a 1 year low of $338.92 and a 1 year high of $461.16. The firm’s 50 day moving average price is $425.70 and its 200 day moving average price is $415.27. The firm has a market cap of $131.98 billion, a P/E ratio of 50.07, a price-to-earnings-growth ratio of 2.32 and a beta of 1.15. 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 Increases Dividend

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

Analyst Ratings Changes

A number of research firms have weighed in on SPGI. Royal Bank of Canada reaffirmed an “outperform” rating and set a $500.00 price target on shares of S&P Global in a research note on Friday, February 9th. Erste Group Bank reissued a “hold” rating on shares of S&P Global in a research note on Wednesday, April 3rd. BMO Capital Markets raised their target price on shares of S&P Global from $480.00 to $483.00 and gave the company an “outperform” rating in a research note on Monday, April 1st. Barclays raised their target price on shares of S&P Global from $500.00 to $520.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Finally, Raymond James lifted their price target on shares of S&P Global from $422.00 to $452.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 9th. Two equities research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company’s stock. According to MarketBeat.com, S&P Global has a consensus rating of “Moderate Buy” and a consensus target price of $464.22.

Insiders Place Their Bets

In other news, CEO Douglas L. Peterson sold 6,000 shares of S&P Global 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 directly owns 162,530 shares of the company’s stock, valued at approximately $69,032,992.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. 0.10% of the stock is owned by company insiders.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of SPGI. Hobbs Group Advisors LLC bought a new stake in S&P Global in the 4th quarter valued at about $31,000. Harbour Investments Inc. raised its position in shares of S&P Global by 45.8% during the 3rd quarter. Harbour Investments Inc. now owns 86 shares of the business services provider’s stock worth $31,000 after buying an additional 27 shares in the last quarter. Aspect Partners LLC bought a new stake in shares of S&P Global during the 4th quarter worth about $34,000. Clarity Asset Management Inc. bought a new stake in S&P Global during the fourth quarter worth approximately $42,000. Finally, Pin Oak Investment Advisors Inc. boosted its stake in shares of S&P Global by 110.5% during the 2nd quarter. Pin Oak Investment Advisors Inc. now owns 120 shares of the business services provider’s stock worth $48,000 after acquiring an additional 63 shares in the last quarter. 87.17% of the stock is owned by institutional investors and hedge funds.

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.