Jefferies Financial Group Weighs in on S&P Global Inc.’s FY2023 Earnings (NYSE:SPGI)

S&P Global Inc. (NYSE:SPGIGet Rating) – Equities researchers at Jefferies Financial Group increased their FY2023 earnings estimates for S&P Global in a research report issued to clients and investors on Tuesday, August 2nd. Jefferies Financial Group analyst H. Mazari now forecasts that the business services provider will post earnings of $14.59 per share for the year, up from their prior forecast of $14.35. Jefferies Financial Group currently has a “Buy” rating and a $416.00 target price on the stock. The consensus estimate for S&P Global’s current full-year earnings is $11.50 per share. Jefferies Financial Group also issued estimates for S&P Global’s FY2024 earnings at $16.16 EPS.

Several other equities analysts also recently weighed in on the stock. Robert W. Baird lowered their price target on shares of S&P Global from $472.00 to $414.00 and set an “outperform” rating on the stock in a report on Thursday, June 2nd. Credit Suisse Group lowered their target price on shares of S&P Global from $495.00 to $425.00 in a report on Wednesday, May 4th. BMO Capital Markets lowered their target price on shares of S&P Global from $433.00 to $365.00 in a report on Thursday, June 2nd. UBS Group lowered their target price on shares of S&P Global from $441.00 to $407.00 and set a “buy” rating on the stock in a report on Monday, June 6th. Finally, Raymond James lowered their target price on shares of S&P Global from $462.00 to $417.00 and set an “outperform” rating on the stock in a report on Tuesday, July 12th. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, S&P Global has a consensus rating of “Moderate Buy” and an average price target of $422.00.

S&P Global Price Performance

Shares of NYSE:SPGI opened at $376.65 on Friday. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.26 and a quick ratio of 1.38. S&P Global has a 1-year low of $311.87 and a 1-year high of $484.21. The company has a market capitalization of $128.00 billion, a P/E ratio of 28.07, a P/E/G ratio of 2.67 and a beta of 1.04. The firm’s 50 day simple moving average is $345.78 and its two-hundred day simple moving average is $372.31.

S&P Global (NYSE:SPGIGet Rating) last announced its quarterly earnings results on Tuesday, August 2nd. The business services provider reported $2.81 EPS for the quarter, missing analysts’ consensus estimates of $2.93 by ($0.12). The company had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3 billion. S&P Global had a return on equity of 17.22% and a net margin of 38.49%. The business’s revenue was up 42.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $3.62 earnings per share.

S&P Global Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, September 12th. Shareholders of record on Friday, August 26th will be given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Thursday, August 25th. S&P Global’s dividend payout ratio (DPR) is 25.34%.

Insider Buying and Selling at S&P Global

In other S&P Global news, EVP Dimitra Manis sold 2,000 shares of the business’s stock in a transaction on Monday, May 16th. The shares were sold at an average price of $336.53, for a total transaction of $673,060.00. Following the transaction, the executive vice president now owns 4,839 shares in the company, valued at $1,628,468.67. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, EVP Dimitra Manis sold 2,000 shares of the company’s stock in a transaction dated Monday, May 16th. The shares were sold at an average price of $336.53, for a total value of $673,060.00. Following the transaction, the executive vice president now directly owns 4,839 shares in the company, valued at $1,628,468.67. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, EVP Nancy Luquette sold 3,200 shares of the company’s stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $367.49, for a total transaction of $1,175,968.00. Following the completion of the transaction, the executive vice president now owns 2,467 shares in the company, valued at $906,597.83. The disclosure for this sale can be found here. Insiders have sold 7,487 shares of company stock worth $2,612,291 over the last quarter. Insiders own 0.10% of the company’s stock.

Institutional Trading of S&P Global

A number of hedge funds have recently added to or reduced their stakes in SPGI. Vanguard Group Inc. lifted its stake in S&P Global by 44.5% in the first quarter. Vanguard Group Inc. now owns 29,370,454 shares of the business services provider’s stock worth $12,047,173,000 after acquiring an additional 9,042,302 shares during the period. BlackRock Inc. lifted its stake in S&P Global by 43.8% in the first quarter. BlackRock Inc. now owns 27,047,127 shares of the business services provider’s stock worth $11,094,191,000 after acquiring an additional 8,234,255 shares during the period. State Street Corp lifted its stake in S&P Global by 45.0% in the first quarter. State Street Corp now owns 16,352,445 shares of the business services provider’s stock worth $6,707,446,000 after acquiring an additional 5,078,366 shares during the period. TCI Fund Management Ltd. lifted its stake in S&P Global by 82.1% in the first quarter. TCI Fund Management Ltd. now owns 6,823,072 shares of the business services provider’s stock worth $2,798,688,000 after acquiring an additional 3,075,788 shares during the period. Finally, Wellington Management Group LLP lifted its stake in S&P Global by 47.8% in the first quarter. Wellington Management Group LLP now owns 8,476,209 shares of the business services provider’s stock worth $3,476,772,000 after acquiring an additional 2,742,007 shares during the period. 94.26% of the stock is owned by hedge funds and other institutional investors.

About S&P Global

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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 in six divisions: S&P Global Ratings, S&P Dow Jones Indices, S&P Global Commodity Insights, S&P Global Market Intelligence, S&P Global Mobility, and S&P Global Engineering Solutions.

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Earnings History and Estimates for S&P Global (NYSE:SPGI)

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