S&P Global Inc. (NYSE:SPGI – Free Report) – Analysts at Zacks Research dropped their Q3 2023 earnings estimates for S&P Global in a report issued on Thursday, August 10th. Zacks Research analyst S. Bose now expects that the business services provider will earn $3.03 per share for the quarter, down from their prior forecast of $3.16. The consensus estimate for S&P Global’s current full-year earnings is $12.51 per share. Zacks Research also issued estimates for S&P Global’s Q4 2023 earnings at $3.13 EPS, FY2023 earnings at $12.44 EPS, Q1 2024 earnings at $3.47 EPS, Q2 2024 earnings at $3.47 EPS, Q3 2024 earnings at $3.49 EPS, Q4 2024 earnings at $3.64 EPS, FY2024 earnings at $14.07 EPS, Q1 2025 earnings at $3.94 EPS, Q2 2025 earnings at $3.94 EPS and FY2025 earnings at $16.00 EPS.
A number of other equities analysts have also recently commented on the stock. TheStreet cut shares of S&P Global from a “b” rating to a “c+” rating in a research note on Thursday, July 27th. Barclays raised their target price on shares of S&P Global from $425.00 to $470.00 and gave the company an “overweight” rating in a research report on Friday, July 28th. Robert W. Baird cut their target price on shares of S&P Global from $460.00 to $451.00 and set an “outperform” rating on the stock in a research report on Friday, July 28th. StockNews.com initiated coverage on shares of S&P Global in a research report on Thursday, May 18th. They issued a “hold” rating on the stock. Finally, Wells Fargo & Company initiated coverage on shares of S&P Global in a research report on Tuesday, May 9th. They issued an “overweight” rating and a $415.00 price objective on the stock. One equities research analyst has rated the stock with a hold rating and sixteen have issued a buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $400.94.
S&P Global Stock Performance
SPGI opened at $387.69 on Monday. The stock has a market capitalization of $123.36 billion, a price-to-earnings ratio of 53.55, a PEG ratio of 2.42 and a beta of 1.12. The company has a fifty day moving average of $397.37 and a 200 day moving average of $368.21. S&P Global has a fifty-two week low of $279.32 and a fifty-two week high of $428.65. The company has a debt-to-equity ratio of 0.30, a quick ratio of 0.78 and a current ratio of 0.78.
S&P Global (NYSE:SPGI – Get Free Report) last released its quarterly earnings results on Thursday, July 27th. The business services provider reported $3.12 earnings per share for the quarter, hitting the consensus estimate of $3.12. The business had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.05 billion. S&P Global had a net margin of 19.46% and a return on equity of 10.45%. The company’s quarterly revenue was up 3.6% on a year-over-year basis. During the same period last year, the firm earned $2.81 earnings per share.
Institutional Inflows and Outflows
Several institutional investors have recently added to or reduced their stakes in SPGI. Fiduciary Alliance LLC acquired a new stake in S&P Global in the 2nd quarter valued at $27,000. Exos TFP Holdings LLC bought a new stake in shares of S&P Global during the fourth quarter worth $26,000. Ridgewood Investments LLC bought a new stake in shares of S&P Global during the first quarter worth $28,000. Addison Advisors LLC raised its position in shares of S&P Global by 74.5% during the first quarter. Addison Advisors LLC now owns 89 shares of the business services provider’s stock worth $31,000 after acquiring an additional 38 shares during the last quarter. Finally, Archer Investment Corp bought a new stake in shares of S&P Global during the second quarter worth $37,000. 87.25% of the stock is owned by institutional investors.
Insider Buying and Selling
In related news, insider Saugata Saha sold 200 shares of the stock in a transaction on Monday, July 24th. The stock was sold at an average price of $424.40, for a total value of $84,880.00. Following the completion of the transaction, the insider now owns 1,934 shares in the company, valued at approximately $820,789.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other S&P Global news, CEO Douglas L. Peterson sold 9,657 shares of the firm’s stock in a transaction dated Monday, July 31st. The stock was sold at an average price of $394.11, for a total transaction of $3,805,920.27. Following the completion of the sale, the chief executive officer now directly owns 172,113 shares in the company, valued at approximately $67,831,454.43. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Saugata Saha sold 200 shares of S&P Global stock in a transaction dated Monday, July 24th. The shares were sold at an average price of $424.40, for a total value of $84,880.00. Following the sale, the insider now owns 1,934 shares of the company’s stock, valued at $820,789.60. The disclosure for this sale can be found here. Insiders have sold a total of 13,478 shares of company stock valued at $5,301,420 over the last three months. Company insiders own 0.10% of the company’s stock.
S&P Global Announces Dividend
The company also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Monday, August 28th will be issued a dividend of $0.90 per share. This represents a $3.60 dividend on an annualized basis and a yield of 0.93%. The ex-dividend date of this dividend is Friday, August 25th. S&P Global’s payout ratio is currently 49.72%.
S&P Global Company Profile
S&P Global, Inc engages in the provision of transparent and independent ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. It operates through the following segments: Market Intelligence, Ratings, Commodity Insights, Mobility, Indices, and Engineering Solutions. The Market Intelligence segment provides multi-asset-class data and analytics integrated with purpose-built workflow solutions.
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