S&P Global Inc. (SPGI) Expected to Announce Quarterly Sales of $1.43 Billion
Brokerages expect S&P Global Inc. (NYSE:SPGI) to announce $1.43 billion in sales for the current fiscal quarter, Zacks Investment Research reports. Three analysts have made estimates for S&P Global’s earnings. The lowest sales estimate is $1.40 billion and the highest is $1.46 billion. S&P Global reported sales of $1.48 billion in the same quarter last year, which indicates a negative year-over-year growth rate of 3.4%. The business is scheduled to issue its next earnings results on Thursday, July 27th.
On average, analysts expect that S&P Global will report full year sales of $1.43 billion for the current fiscal year, with estimates ranging from $5.70 billion to $5.83 billion. For the next fiscal year, analysts expect that the company will report sales of $6.10 billion per share, with estimates ranging from $6.04 billion to $6.17 billion. Zacks’ sales averages are a mean average based on a survey of research firms that that provide coverage for S&P Global.
S&P Global (NYSE:SPGI) last issued its quarterly earnings results on Tuesday, April 25th. The business services provider reported $1.62 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.39 by $0.23. The firm had revenue of $1.45 billion for the quarter, compared to the consensus estimate of $1.37 billion. S&P Global had a net margin of 38.30% and a return on equity of 245.38%. The business’s revenue for the quarter was up 8.4% compared to the same quarter last year.
A number of analysts have recently weighed in on the company. Barclays PLC increased their price objective on S&P Global from $150.00 to $155.00 and gave the company an “overweight” rating in a research note on Wednesday, June 28th. Argus reissued a “buy” rating and set a $158.00 price objective (up previously from $150.00) on shares of S&P Global in a research note on Monday, May 29th. Cantor Fitzgerald reissued an “overweight” rating and set a $153.00 price objective (up previously from $139.00) on shares of S&P Global in a research note on Wednesday, April 26th. Zacks Investment Research raised S&P Global from a “hold” rating to a “buy” rating and set a $145.00 price objective for the company in a research note on Tuesday, April 11th. Finally, Raymond James Financial, Inc. raised S&P Global from a “market perform” rating to an “outperform” rating and set a $143.00 price objective for the company in a research note on Monday, April 17th. One research analyst has rated the stock with a hold rating and eight have assigned a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $145.00.
Shares of S&P Global (SPGI) traded up 1.67% on Friday, hitting $148.79. 1,338,370 shares of the stock were exchanged. The company has a 50 day moving average of $143.34 and a 200 day moving average of $129.50. The company has a market cap of $38.36 billion, a price-to-earnings ratio of 17.74 and a beta of 1.52. S&P Global has a 52-week low of $104.75 and a 52-week high of $150.40.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Monday, August 28th will be paid a $0.41 dividend. This represents a $1.64 dividend on an annualized basis and a yield of 1.10%. The ex-dividend date is Thursday, August 24th. S&P Global’s payout ratio is 19.57%.
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In other S&P Global news, Director Marco Alvera purchased 400 shares of the company’s stock in a transaction that occurred on Tuesday, May 30th. The stock was bought at an average price of $140.09 per share, with a total value of $56,036.00. Following the completion of the purchase, the director now directly owns 400 shares of the company’s stock, valued at approximately $56,036. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Company insiders own 0.20% of the company’s stock.
A number of hedge funds have recently made changes to their positions in the company. BLS Capital Fondsmaeglerselskab A S acquired a new stake in shares of S&P Global during the fourth quarter worth approximately $11,037,000. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new stake in shares of S&P Global during the fourth quarter worth approximately $125,000. Thrivent Financial for Lutherans raised its stake in shares of S&P Global by 4.6% in the fourth quarter. Thrivent Financial for Lutherans now owns 9,020 shares of the business services provider’s stock worth $970,000 after buying an additional 400 shares during the last quarter. Israel Discount Bank of New York GFN acquired a new stake in shares of S&P Global during the fourth quarter worth approximately $183,000. Finally, Dodge & Cox acquired a new stake in shares of S&P Global during the fourth quarter worth approximately $1,835,000. 88.33% of the stock is owned by institutional investors.
About S&P Global
S&P Global Inc, formerly McGraw Hill Financial Inc, is a provider of ratings, benchmarks, analytics and data to the capital and commodity markets around the world. The Company operates through three segments: Ratings, which provides credit ratings, research and analytics to investors, issuers and other market participants; Market and Commodities Intelligence, which offers multi-asset-class data, research and analytical capabilities that integrate cross-asset analytics and desktop services, and deliver their customers in the commodity and energy markets access to information, data, analytic services and pricing and benchmarks, and S&P Dow Jones Indices (Indices), which is an index provider that maintains a range of valuation and index benchmarks for investment advisors, wealth managers and institutional investors.
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