$1.64 Billion in Sales Expected for S&P Global Inc (NYSE:SPGI) This Quarter
Wall Street brokerages predict that S&P Global Inc (NYSE:SPGI) will report sales of $1.64 billion for the current fiscal quarter, Zacks reports. Five analysts have made estimates for S&P Global’s earnings. The highest sales estimate is $1.68 billion and the lowest is $1.62 billion. S&P Global posted sales of $1.55 billion during the same quarter last year, which would indicate a positive year-over-year growth rate of 5.8%. The business is expected to report its next earnings report on Thursday, October 24th.
According to Zacks, analysts expect that S&P Global will report full year sales of $6.57 billion for the current fiscal year, with estimates ranging from $6.52 billion to $6.64 billion. For the next fiscal year, analysts anticipate that the firm will post sales of $6.97 billion, with estimates ranging from $6.91 billion to $7.07 billion. Zacks Investment Research’s sales averages are an average based on a survey of research firms that cover S&P Global.
S&P Global (NYSE:SPGI) last issued its earnings results on Thursday, August 1st. The business services provider reported $2.43 earnings per share for the quarter, beating analysts’ consensus estimates of $2.28 by $0.15. The company had revenue of $1.70 billion for the quarter, compared to the consensus estimate of $1.65 billion. S&P Global had a return on equity of 341.54% and a net margin of 31.02%. The firm’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.17 EPS.
Shares of SPGI traded up $4.56 during trading hours on Friday, reaching $253.17. The company’s stock had a trading volume of 916,559 shares, compared to its average volume of 1,181,080. The company has a market cap of $62.60 billion, a price-to-earnings ratio of 29.78, a price-to-earnings-growth ratio of 2.76 and a beta of 1.08. S&P Global has a 1-year low of $156.68 and a 1-year high of $262.83. The company has a current ratio of 1.37, a quick ratio of 1.37 and a debt-to-equity ratio of 7.52. The firm has a 50 day moving average of $242.21.
The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 11th. Stockholders of record on Tuesday, August 27th will be given a $0.57 dividend. The ex-dividend date of this dividend is Monday, August 26th. This represents a $2.28 annualized dividend and a dividend yield of 0.90%. S&P Global’s dividend payout ratio is 26.82%.
In other S&P Global news, insider Nicholas Cafferillo sold 9,911 shares of the stock in a transaction on Thursday, August 8th. The stock was sold at an average price of $252.95, for a total transaction of $2,506,987.45. Following the completion of the transaction, the insider now directly owns 7,454 shares in the company, valued at $1,885,489.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Alexander Matturri, Jr. sold 1,007 shares of the stock in a transaction on Tuesday, July 9th. The stock was sold at an average price of $230.44, for a total value of $232,053.08. Following the transaction, the chief executive officer now owns 18,723 shares of the company’s stock, valued at $4,314,528.12. The disclosure for this sale can be found here. Insiders sold 16,418 shares of company stock valued at $4,113,381 over the last three months. 0.20% of the stock is owned by company insiders.
Institutional investors have recently added to or reduced their stakes in the business. Bamco Inc. NY increased its stake in shares of S&P Global by 0.3% in the second quarter. Bamco Inc. NY now owns 30,994 shares of the business services provider’s stock valued at $7,060,000 after buying an additional 103 shares in the last quarter. Voleon Capital Management LP acquired a new stake in shares of S&P Global in the second quarter valued at $7,973,000. Waddell & Reed Financial Inc. increased its stake in shares of S&P Global by 6.0% in the second quarter. Waddell & Reed Financial Inc. now owns 965,298 shares of the business services provider’s stock valued at $219,885,000 after buying an additional 54,975 shares in the last quarter. Worldquant Millennium Advisors LLC increased its stake in shares of S&P Global by 18.9% in the second quarter. Worldquant Millennium Advisors LLC now owns 322,480 shares of the business services provider’s stock valued at $73,458,000 after buying an additional 51,221 shares in the last quarter. Finally, Pictet Asset Management Ltd. increased its position in S&P Global by 26.1% in the second quarter. Pictet Asset Management Ltd. now owns 154,642 shares of the business services provider’s stock worth $35,226,000 after purchasing an additional 32,031 shares during the period. Hedge funds and other institutional investors own 82.43% of the company’s stock.
S&P Global Company Profile
S&P Global Inc, together with its subsidiaries, provides ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. The company operates through four segments: S&P Global Ratings (Ratings), S&P Global Market Intelligence (Market Intelligence), S&P Global Platts (Platts), and S&P Dow Jones Indices (Indices).
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