S&P Global (NYSE:SPGI – Get Free Report) updated its FY24 earnings guidance on Thursday. The company provided earnings per share guidance of $13.85-14.10 for the period, compared to the consensus earnings per share estimate of $14.10. The company issued revenue guidance of ~$13.25-13.50 billion, compared to the consensus revenue estimate of $13.43 billion. S&P Global also updated its FY 2024 guidance to 13.850-14.100 EPS.
Analysts Set New Price Targets
Several analysts have commented on the stock. BMO Capital Markets boosted their price target 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. Barclays raised 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 report on Tuesday, April 2nd. Oppenheimer reissued an outperform rating and set a $480.00 price objective on shares of S&P Global in a report on Tuesday, April 2nd. Raymond James raised their target price on shares of S&P Global from $422.00 to $452.00 and gave the company an outperform rating in a research note on Tuesday, January 9th. Finally, Stifel Nicolaus lowered their target price on shares of S&P Global from $460.00 to $442.00 and set a buy rating for the company in a research note on Thursday, April 18th. Two analysts have rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to data from MarketBeat.com, S&P Global presently has a consensus rating of Moderate Buy and an average price target of $462.00.
View Our Latest Analysis on S&P Global
S&P Global Stock Up 0.5 %
S&P Global (NYSE:SPGI – Get Free Report) last announced its quarterly earnings data on Thursday, February 8th. The business services provider reported $3.13 EPS for the quarter, missing analysts’ consensus estimates of $3.15 by ($0.02). The firm had revenue of $3.15 billion during the quarter, compared to analysts’ expectations of $3.13 billion. S&P Global had a net margin of 21.02% and a return on equity of 11.34%. The company’s revenue for the quarter was up 7.3% on a year-over-year basis. During the same period in the prior year, the company posted $2.54 earnings per share. Analysts predict that S&P Global will post 14.11 EPS for the current fiscal year.
Insider Transactions at S&P Global
In other news, CEO Douglas L. Peterson sold 6,000 shares of the stock in a transaction dated 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 completion of the transaction, the chief executive officer now owns 162,530 shares in the company, valued at approximately $69,032,992.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 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.
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