William Blair Has Strong Estimate for S&P Global Q3 Earnings

S&P Global Inc. (NYSE:SPGI) – Research analysts at William Blair increased their Q3 2024 earnings estimates for shares of S&P Global in a note issued to investors on Tuesday, October 15th. William Blair analyst A. Nicholas now expects that the business services provider will earn $3.72 per share for the quarter, up from their prior estimate of $3.34. The consensus estimate for S&P Global’s current full-year earnings is $14.61 per share.

S&P Global (NYSE:SPGI) last issued its quarterly earnings results on Tuesday, July 30th. The business services provider reported $4.04 EPS for the quarter, beating analysts’ consensus estimates of $3.67 by $0.37. S&P Global had a return on equity of 13.03% and a net margin of 25.03%. The company had revenue of $3.55 billion during the quarter, compared to the consensus estimate of $3.42 billion. During the same period last year, the business posted $3.12 earnings per share. S&P Global’s revenue was up 14.4% on a year-over-year basis.

A number of other research analysts have also recently weighed in on SPGI. BMO Capital Markets boosted their target price on shares of S&P Global from $537.00 to $589.00 and gave the company an “outperform” rating in a research note on Tuesday. Wells Fargo & Company upped their price objective on S&P Global from $575.00 to $620.00 and gave the company an “overweight” rating in a research note on Wednesday, October 9th. Oppenheimer raised their target price on S&P Global from $540.00 to $590.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. Evercore ISI initiated coverage on shares of S&P Global in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $599.00 target price for the company. Finally, Stifel Nicolaus boosted their price target on shares of S&P Global from $535.00 to $540.00 and gave the company a “buy” rating in a research report on Wednesday, July 31st. Two equities research 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 currently has an average rating of “Moderate Buy” and a consensus target price of $565.17.

S&P Global Trading Up 1.1 %

NYSE SPGI opened at $524.80 on Friday. The stock has a market capitalization of $164.21 billion, a price-to-earnings ratio of 58.83, a PEG ratio of 2.91 and a beta of 1.18. The business’s fifty day moving average is $512.21 and its 200-day moving average is $467.89. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.03 and a quick ratio of 1.03. S&P Global has a one year low of $340.49 and a one year high of $533.29.

Hedge Funds Weigh In On S&P Global

A number of institutional investors have recently added to or reduced their stakes in SPGI. Resonant Capital Advisors LLC increased its stake in shares of S&P Global by 5.0% during the third quarter. Resonant Capital Advisors LLC now owns 5,546 shares of the business services provider’s stock valued at $2,865,000 after purchasing an additional 263 shares in the last quarter. Revolve Wealth Partners LLC purchased a new stake in shares of S&P Global in the 3rd quarter worth approximately $239,000. Veracity Capital LLC raised its stake in S&P Global by 5.0% during the third quarter. Veracity Capital LLC now owns 691 shares of the business services provider’s stock valued at $357,000 after buying an additional 33 shares during the last quarter. Whitaker Myers Wealth Managers LTD. bought a new stake in S&P Global in the third quarter worth $316,000. Finally, Chicago Capital LLC increased its holdings in shares of S&P Global by 0.4% during the third quarter. Chicago Capital LLC now owns 20,874 shares of the business services provider’s stock valued at $10,784,000 after acquiring an additional 86 shares in the last quarter. Institutional investors own 87.17% of the company’s stock.

Insider Buying and Selling

In other S&P Global news, Director Robert P. Kelly sold 7,662 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $481.28, for a total value of $3,687,567.36. Following the completion of the sale, the director now owns 15,830 shares in the company, valued at approximately $7,618,662.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other S&P Global news, CEO Douglas L. Peterson sold 7,000 shares of the firm’s stock in a transaction dated Friday, August 2nd. The shares were sold at an average price of $483.60, for a total value of $3,385,200.00. Following the completion of the sale, the chief executive officer now directly owns 154,912 shares in the company, valued at $74,915,443.20. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, Director Robert P. Kelly sold 7,662 shares of the stock in a transaction that occurred on Wednesday, August 7th. The stock was sold at an average price of $481.28, for a total value of $3,687,567.36. Following the completion of the transaction, the director now directly owns 15,830 shares of the company’s stock, valued at $7,618,662.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 17,862 shares of company stock valued at $8,645,727 over the last ninety days. 0.10% of the stock is owned by insiders.

S&P Global Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 11th. Investors of record on Tuesday, November 26th will be paid a $0.91 dividend. The ex-dividend date is Tuesday, November 26th. This represents a $3.64 annualized dividend and a dividend yield of 0.69%. S&P Global’s payout ratio is presently 40.81%.

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.