S&P Global (NYSE:SPGI) Releases Quarterly Earnings Results, Misses Estimates By $0.02 EPS

S&P Global (NYSE:SPGIGet Free Report) posted its quarterly earnings data on Thursday. The business services provider reported $3.13 EPS for the quarter, missing analysts’ consensus estimates of $3.15 by ($0.02), Briefing.com reports. S&P Global had a net margin of 21.02% and a return on equity of 11.34%. The firm had revenue of $3.15 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same period in the prior year, the company posted $2.54 earnings per share. S&P Global’s quarterly revenue was up 7.3% compared to the same quarter last year. S&P Global updated its FY24 guidance to $13.75-14.00 EPS and its FY 2024 guidance to 13.750-14.000 EPS.

S&P Global Stock Up 0.3 %

SPGI stock traded up $1.26 during trading hours on Friday, hitting $437.89. The company’s stock had a trading volume of 1,863,771 shares, compared to its average volume of 1,210,101. The stock has a 50 day moving average price of $437.61 and a two-hundred day moving average price of $402.73. S&P Global has a 12 month low of $321.14 and a 12 month high of $461.16. The company has a market capitalization of $138.72 billion, a PE ratio of 53.21, a price-to-earnings-growth ratio of 2.40 and a beta of 1.18. The company has a quick ratio of 0.92, a current ratio of 0.84 and a debt-to-equity ratio of 0.33.

S&P Global Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 12th. Investors of record on Tuesday, February 27th will be given a dividend of $0.91 per share. This represents a $3.64 annualized dividend and a yield of 0.83%. The ex-dividend date of this dividend is Monday, February 26th. This is a positive change from S&P Global’s previous quarterly dividend of $0.90. S&P Global’s dividend payout ratio (DPR) is presently 43.74%.

Insider Activity

In other news, CEO Douglas L. Peterson sold 6,000 shares of the stock in a transaction dated Wednesday, November 15th. The stock was sold at an average price of $405.28, for a total transaction of $2,431,680.00. Following the transaction, the chief executive officer now owns 163,613 shares of the company’s stock, valued at approximately $66,309,076.64. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 0.10% of the stock is owned by insiders.

Hedge Funds Weigh In On S&P Global

A number of institutional investors have recently made changes to their positions in the business. Harbour Investments Inc. increased its position in S&P Global by 45.8% during the third quarter. Harbour Investments Inc. now owns 86 shares of the business services provider’s stock worth $31,000 after acquiring an additional 27 shares during the period. Sunbelt Securities Inc. raised its position in shares of S&P Global by 2.3% during the second quarter. Sunbelt Securities Inc. now owns 1,229 shares of the business services provider’s stock valued at $493,000 after buying an additional 28 shares during the last quarter. Magnolia Capital Advisors LLC lifted its stake in shares of S&P Global by 1.7% in the fourth quarter. Magnolia Capital Advisors LLC now owns 1,642 shares of the business services provider’s stock valued at $550,000 after buying an additional 28 shares during the period. Johnson Financial Group Inc. grew its position in S&P Global by 3.9% during the first quarter. Johnson Financial Group Inc. now owns 776 shares of the business services provider’s stock worth $268,000 after buying an additional 29 shares in the last quarter. Finally, Hoxton Planning & Management LLC increased its stake in S&P Global by 2.0% during the first quarter. Hoxton Planning & Management LLC now owns 1,535 shares of the business services provider’s stock valued at $529,000 after acquiring an additional 30 shares during the period. 85.50% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

SPGI has been the subject of a number of recent analyst reports. TheStreet raised shares of S&P Global from a “c+” rating to a “b-” rating in a research note on Monday, November 27th. Raymond James raised their target price on S&P Global from $422.00 to $452.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 9th. Finally, Royal Bank of Canada reissued an “outperform” rating and set a $500.00 price target on shares of S&P Global in a research report on Friday. One analyst has rated the stock with a hold rating and ten have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $440.56.

View Our Latest Stock Report on SPGI

S&P Global Company Profile

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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 six segments: S&P Global Ratings, S&P Dow Jones Indices, S&P Global Commodity Insights, S&P Global Market Intelligence, S&P Global Mobility, and S&P Global Engineering Solutions.

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Earnings History for S&P Global (NYSE:SPGI)

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