S&P Global (NYSE:SPGI) Releases Earnings Results, Beats Expectations By $0.25 EPS

S&P Global (NYSE:SPGI) posted its earnings results on Thursday. The business services provider reported $3.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.64 by $0.25, Briefing.com reports. S&P Global had a net margin of 25.03% and a return on equity of 13.03%. The firm had revenue of $3.58 billion during the quarter, compared to the consensus estimate of $3.43 billion. During the same quarter in the prior year, the company earned $3.21 EPS. The company’s revenue was up 15.9% on a year-over-year basis. S&P Global updated its FY 2024 guidance to 15.100-15.300 EPS and its FY24 guidance to $15.10-15.30 EPS.

S&P Global Stock Performance

SPGI stock opened at $490.61 on Friday. The firm has a market cap of $153.56 billion, a P/E ratio of 46.50, a P/E/G ratio of 2.76 and a beta of 1.18. The stock’s 50 day simple moving average is $513.82 and its 200 day simple moving average is $470.81. The company has a current ratio of 1.03, a quick ratio of 1.03 and a debt-to-equity ratio of 0.33. S&P Global has a 12-month low of $340.49 and a 12-month high of $533.29.

S&P Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, December 11th. Stockholders of record on Tuesday, November 26th will be issued a $0.91 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $3.64 dividend on an annualized basis and a dividend yield of 0.74%. S&P Global’s dividend payout ratio (DPR) is 34.50%.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on SPGI shares. Royal Bank of Canada increased their price objective on shares of S&P Global from $500.00 to $552.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 31st. Wells Fargo & Company increased their price target on S&P Global from $575.00 to $620.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Raymond James lowered S&P Global from an “outperform” rating to a “market perform” rating in a research report on Monday, September 23rd. Barclays upped their target price on S&P Global from $550.00 to $610.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. Finally, Bank of America raised their target price on S&P Global from $530.00 to $540.00 and gave the company a “buy” rating in a report on Tuesday, July 16th. Two research analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $569.77.

Insiders Place Their Bets

In other news, insider Edouard Tavernier sold 500 shares of the stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $491.55, for a total transaction of $245,775.00. Following the sale, the insider now directly owns 13,217 shares in the company, valued at approximately $6,496,816.35. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other S&P Global news, insider Edouard Tavernier sold 500 shares of the company’s stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $491.55, for a total value of $245,775.00. Following the completion of the transaction, the insider now owns 13,217 shares in the company, valued at approximately $6,496,816.35. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Robert P. Kelly sold 7,662 shares of the business’s stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $481.28, for a total value of $3,687,567.36. Following the transaction, the director now owns 15,830 shares of the company’s stock, valued at approximately $7,618,662.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 17,862 shares of company stock valued at $8,645,727. Company insiders own 0.10% of the company’s stock.

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.