S&P Global Inc. (NYSE:SPGI) Forecasted to Earn Q4 2023 Earnings of $3.06 Per Share

S&P Global Inc. (NYSE:SPGI – Get Rating) – Stock analysts at Zacks Research dropped their Q4 2023 EPS estimates for S&P Global in a research report issued on Monday, May 22nd. Zacks Research analyst S. Bose now forecasts that the business services provider will post earnings per share of $3.06 for the quarter, down from their previous estimate of $3.07. The consensus estimate for S&P Global’s current full-year earnings is $12.50 per share. Zacks Research also issued estimates for S&P Global’s Q1 2024 earnings at $3.44 EPS, Q2 2024 earnings at $3.55 EPS, Q3 2024 earnings at $3.53 EPS, Q4 2024 earnings at $3.68 EPS, FY2024 earnings at $14.20 EPS, Q1 2025 earnings at $3.90 EPS and FY2025 earnings at $16.05 EPS.

S&P Global (NYSE:SPGI – Get Rating) last released its earnings results on Thursday, April 27th. The business services provider reported $3.15 earnings per share for the quarter, beating the consensus estimate of $2.92 by $0.23. S&P Global had a net margin of 23.50% and a return on equity of 10.06%. The business had revenue of $3.16 billion during the quarter, compared to analysts’ expectations of $3.06 billion. During the same period last year, the business earned $2.89 earnings per share. The firm’s revenue was up 2.9% on a year-over-year basis.

A number of other equities analysts have also recently commented on SPGI. Credit Suisse Group lifted their price objective on shares of S&P Global from $385.00 to $395.00 and gave the stock an “outperform” rating in a research report on Friday, February 10th. Robert W. Baird lifted their price objective on shares of S&P Global from $393.00 to $401.00 and gave the stock an “outperform” rating in a research report on Friday, February 10th. Raymond James lifted their price objective on shares of S&P Global from $398.00 to $402.00 and gave the stock an “outperform” rating in a research report on Friday, February 10th. Wells Fargo & Company assumed coverage on S&P Global in a report on Tuesday, May 9th. They set an “overweight” rating and a $415.00 target price for the company. Finally, StockNews.com began coverage on S&P Global in a report on Thursday, May 18th. They set a “hold” rating for the company. One investment analyst has rated the stock with a hold rating and sixteen have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $395.71.

S&P Global Price Performance

NYSE:SPGI opened at $356.20 on Wednesday. S&P Global has a 1-year low of $279.32 and a 1-year high of $395.80. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.29. The firm has a fifty day simple moving average of $349.16 and a 200 day simple moving average of $350.21. The stock has a market capitalization of $114.70 billion, a PE ratio of 41.91, a P/E/G ratio of 2.48 and a beta of 1.12.

S&P Global Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Monday, June 12th. Stockholders of record on Friday, May 26th will be issued a dividend of $0.90 per share. This represents a $3.60 annualized dividend and a dividend yield of 1.01%. The ex-dividend date of this dividend is Thursday, May 25th. S&P Global’s dividend payout ratio (DPR) is currently 42.35%.

Insider Transactions at S&P Global

In related news, EVP Steven J. Kemps sold 820 shares of the company’s stock in a transaction that occurred on Friday, April 28th. The stock was sold at an average price of $362.81, for a total value of $297,504.20. Following the sale, the executive vice president now directly owns 2,148 shares in the company, valued at $779,315.88. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In other S&P Global news, CFO Ewout L. Steenbergen sold 5,700 shares of the business’s stock in a transaction that occurred on Friday, April 28th. The stock was sold at an average price of $355.03, for a total value of $2,023,671.00. Following the transaction, the chief financial officer now directly owns 27,904 shares of the company’s stock, valued at $9,906,757.12. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, EVP Steven J. Kemps sold 820 shares of the business’s stock in a transaction that occurred on Friday, April 28th. The shares were sold at an average price of $362.81, for a total value of $297,504.20. Following the completion of the transaction, the executive vice president now directly owns 2,148 shares in the company, valued at $779,315.88. The disclosure for this sale can be found here. Over the last three months, insiders have sold 14,020 shares of company stock worth $5,013,375. Insiders own 0.10% of the company’s stock.

Hedge Funds Weigh In On S&P Global

Institutional investors have recently added to or reduced their stakes in the business. Putnam Investments LLC lifted its stake in S&P Global by 6.2% in the third quarter. Putnam Investments LLC now owns 32,099 shares of the business services provider’s stock valued at $9,801,000 after buying an additional 1,868 shares during the period. Keel Point LLC lifted its stake in S&P Global by 6.8% in the fourth quarter. Keel Point LLC now owns 850 shares of the business services provider’s stock valued at $285,000 after buying an additional 54 shares during the period. Ronald Blue Trust Inc. raised its position in shares of S&P Global by 59.9% during the fourth quarter. Ronald Blue Trust Inc. now owns 1,847 shares of the business services provider’s stock worth $564,000 after purchasing an additional 692 shares during the period. Convergence Investment Partners LLC acquired a new position in shares of S&P Global during the fourth quarter worth approximately $203,000. Finally, Alliancebernstein L.P. raised its position in shares of S&P Global by 25.8% during the third quarter. Alliancebernstein L.P. now owns 606,500 shares of the business services provider’s stock worth $185,195,000 after purchasing an additional 124,299 shares during the period. 87.27% of the stock is owned by institutional investors and hedge funds.

S&P Global Company Profile

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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.