S&P Global (NYSE:SPGI) Releases Quarterly Earnings Results

S&P Global (NYSE:SPGI) announced its quarterly earnings results on Thursday. The business services provider reported $4.01 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.68 by $0.33, reports. S&P Global had a net margin of 22.01% and a return on equity of 12.20%. The company had revenue of $3.49 billion for the quarter, compared to the consensus estimate of $3.39 billion. S&P Global updated its FY 2024 guidance to 13.850-14.100 EPS and its FY24 guidance to $13.85-14.10 EPS.

S&P Global Trading Up 0.1 %

NYSE SPGI opened at $415.73 on Friday. S&P Global has a 12 month low of $340.49 and a 12 month high of $461.16. The company has a debt-to-equity ratio of 0.33, a current ratio of 0.92 and a quick ratio of 0.84. The company has a market capitalization of $133.14 billion, a price-to-earnings ratio of 46.61, a price-to-earnings-growth ratio of 2.36 and a beta of 1.15. The company’s fifty day moving average price is $423.79 and its two-hundred day moving average price is $417.41.

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 on Thursday, February 15th. The shares were sold at an average price of $424.74, for a total transaction of $2,548,440.00. Following the transaction, the chief executive officer now directly owns 162,530 shares in the company, valued at approximately $69,032,992.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.10% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the stock. Fidelis Capital Partners LLC lifted its position in shares of S&P Global by 18.5% in the 3rd quarter. Fidelis Capital Partners LLC now owns 1,409 shares of the business services provider’s stock worth $515,000 after buying an additional 220 shares during the last quarter. Arkadios Wealth Advisors increased its holdings in shares of S&P Global by 6.1% in the 4th quarter. Arkadios Wealth Advisors now owns 1,523 shares of the business services provider’s stock worth $671,000 after acquiring an additional 87 shares during the period. Handelsinvest Investeringsforvaltning acquired a new stake in shares of S&P Global in the 4th quarter worth about $1,644,000. Aspiriant LLC acquired a new stake in shares of S&P Global in the 4th quarter worth about $398,000. Finally, Westfield Capital Management Co. LP increased its holdings in shares of S&P Global by 12.1% in the 3rd quarter. Westfield Capital Management Co. LP now owns 186,231 shares of the business services provider’s stock worth $68,051,000 after acquiring an additional 20,153 shares during the period. 87.17% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

SPGI has been the topic of several recent analyst reports. BMO Capital Markets upped their price objective on shares of S&P Global from $480.00 to $483.00 and gave the company an “outperform” rating in a research note on Monday, April 1st. Stifel Nicolaus upped their price objective on shares of S&P Global from $442.00 to $446.00 and gave the company a “buy” rating in a research note on Friday. Royal Bank of Canada reissued an “outperform” rating and set a $500.00 price objective on shares of S&P Global in a research note on Friday, February 9th. Barclays upped their price objective on shares of S&P Global from $500.00 to $520.00 and gave the company an “overweight” rating in a research note on Tuesday, April 2nd. Finally, Erste Group Bank reissued a “hold” rating on shares of S&P Global in a research note on Wednesday, April 3rd. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $462.60.

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.