$1.47 Billion in Sales Expected for S&P Global Inc. (SPGI) This Quarter
Brokerages expect S&P Global Inc. (NYSE:SPGI) to report $1.47 billion in sales for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for S&P Global’s earnings. The highest sales estimate is $1.49 billion and the lowest is $1.44 billion. S&P Global posted sales of $1.40 billion in the same quarter last year, which would suggest a positive year-over-year growth rate of 5%. The company is scheduled to announce its next quarterly earnings results on Tuesday, February 6th.
According to Zacks, analysts expect that S&P Global will report full-year sales of $1.47 billion for the current fiscal year, with estimates ranging from $5.88 billion to $5.99 billion. For the next fiscal year, analysts forecast that the company will post sales of $6.25 billion per share, with estimates ranging from $6.15 billion to $6.29 billion. Zacks Investment Research’s sales calculations are a mean average based on a survey of analysts that cover S&P Global.
S&P Global (NYSE:SPGI) last announced its earnings results on Thursday, October 26th. The business services provider reported $1.71 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.52 by $0.19. The business had revenue of $1.51 billion during the quarter, compared to analyst estimates of $1.45 billion. S&P Global had a return on equity of 187.30% and a net margin of 30.15%. S&P Global’s revenue for the quarter was up 5.1% compared to the same quarter last year. During the same period last year, the company earned $1.43 EPS.
Several equities analysts have recently commented on SPGI shares. Wells Fargo & Company upped their price objective on shares of S&P Global from $159.00 to $165.00 and gave the company a “market perform” rating in a research note on Friday, October 27th. BMO Capital Markets downgraded shares of S&P Global from an “outperform” rating to a “market perform” rating and set a $166.00 price objective for the company. in a research note on Friday, October 27th. Cantor Fitzgerald reaffirmed a “buy” rating and set a $177.00 price objective on shares of S&P Global in a research note on Thursday, October 26th. Barclays PLC upped their price objective on shares of S&P Global from $170.00 to $180.00 and gave the company an “overweight” rating in a research note on Friday, October 27th. Finally, Zacks Investment Research raised shares of S&P Global from a “hold” rating to a “buy” rating and set a $166.00 price objective for the company in a research note on Monday, August 14th. Four analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock has an average rating of “Buy” and a consensus target price of $164.75.
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In related news, SVP Nancy Luquette sold 860 shares of the business’s stock in a transaction dated Wednesday, August 23rd. The shares were sold at an average price of $151.50, for a total transaction of $130,290.00. Following the transaction, the senior vice president now owns 106 shares in the company, valued at $16,059. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 0.20% of the stock is owned by insiders.
Institutional investors and hedge funds have recently made changes to their positions in the business. Korea Investment CORP grew its holdings in S&P Global by 11.1% in the third quarter. Korea Investment CORP now owns 310,109 shares of the business services provider’s stock worth $48,473,000 after purchasing an additional 30,900 shares during the period. Davis Selected Advisers grew its holdings in S&P Global by 2.7% in the second quarter. Davis Selected Advisers now owns 181,288 shares of the business services provider’s stock worth $26,466,000 after purchasing an additional 4,810 shares during the period. New York State Common Retirement Fund grew its holdings in S&P Global by 4.3% in the second quarter. New York State Common Retirement Fund now owns 889,431 shares of the business services provider’s stock worth $129,848,000 after purchasing an additional 36,605 shares during the period. Aperio Group LLC grew its holdings in S&P Global by 14.7% in the second quarter. Aperio Group LLC now owns 130,714 shares of the business services provider’s stock worth $19,083,000 after purchasing an additional 16,713 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in S&P Global by 0.3% in the second quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 59,228 shares of the business services provider’s stock worth $8,647,000 after purchasing an additional 194 shares during the period. Institutional investors and hedge funds own 85.47% of the company’s stock.
S&P Global Company Profile
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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