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

S&P Global Inc. (NYSE:SPGI) – William Blair raised their Q1 2024 earnings estimates for shares of S&P Global in a research report issued to clients and investors on Monday, April 15th. William Blair analyst A. Nicholas now expects that the business services provider will post earnings of $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.

S&P Global (NYSE:SPGI) last issued its quarterly earnings data on Thursday, February 8th. The business services provider reported $3.13 EPS for the quarter, missing the consensus estimate 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 company had revenue of $3.15 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the prior year, the company posted $2.54 earnings per share. The business’s revenue was up 7.3% compared to the same quarter last year.

Other equities analysts have also issued reports about the stock. Erste Group Bank restated a “hold” rating on shares of S&P Global in a report on Wednesday, April 3rd. Royal Bank of Canada reaffirmed an “outperform” rating and set a $500.00 target price on shares of S&P Global in a research note on Friday, February 9th. Raymond James upped their target price 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. Barclays upped their target price on shares of S&P Global from $500.00 to $520.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 2nd. Finally, BMO Capital Markets upped their target price on shares of S&P Global from $480.00 to $483.00 and gave the stock an “outperform” rating in a research note on Monday, April 1st. Two research analysts have rated the stock with a hold rating and ten have given a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $464.22.

S&P Global Stock Performance

Shares of SPGI stock opened at $412.11 on Wednesday. The firm’s 50 day moving average price is $425.70 and its 200-day moving average price 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 has a one year low of $338.92 and a one year high of $461.16. The firm has a market cap of $131.98 billion, a P/E ratio of 50.07, a P/E/G ratio of 2.32 and a beta of 1.15.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SPGI. Kathleen S. Wright Associates Inc. purchased a new stake in shares of S&P Global in the third quarter valued at about $25,000. Private Wealth Management Group LLC purchased a new stake in shares of S&P Global in the fourth quarter valued at about $26,000. Pineridge Advisors LLC purchased a new stake in shares of S&P Global in the fourth quarter valued at about $26,000. Valued Wealth Advisors LLC purchased a new stake in shares of S&P Global in the fourth quarter valued at about $28,000. Finally, Oliver Lagore Vanvalin Investment Group boosted its holdings in shares of S&P Global by 64.1% in the fourth quarter. Oliver Lagore Vanvalin Investment Group now owns 64 shares of the business services provider’s stock valued at $28,000 after acquiring an additional 25 shares in the last quarter. 87.17% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at S&P Global

In other S&P Global news, CEO Douglas L. Peterson sold 6,000 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer now directly owns 162,530 shares of the company’s stock, valued at approximately $69,032,992.20. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. 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. Shareholders of record on Tuesday, February 27th were given a $0.91 dividend. The ex-dividend date of this dividend was Monday, February 26th. This is an increase from S&P Global’s previous quarterly dividend of $0.90. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.88%. S&P Global’s dividend payout ratio is currently 44.23%.

S&P Global Company Profile

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.