Zacks: Brokerages Expect S&P Global Inc (NYSE:SPGI) to Announce $2.31 Earnings Per Share

Brokerages predict that S&P Global Inc (NYSE:SPGI) will report earnings per share (EPS) of $2.31 for the current quarter, according to Zacks Investment Research. Five analysts have made estimates for S&P Global’s earnings, with estimates ranging from $2.27 to $2.35. S&P Global reported earnings of $2.11 per share in the same quarter last year, which indicates a positive year-over-year growth rate of 9.5%. The business is scheduled to issue its next quarterly earnings report on Thursday, October 24th.

On average, analysts expect that S&P Global will report full year earnings of $9.18 per share for the current year, with EPS estimates ranging from $9.03 to $9.25. For the next year, analysts forecast that the firm will report earnings of $10.09 per share, with EPS estimates ranging from $9.77 to $10.38. Zacks Investment Research’s EPS calculations are a mean average based on a survey of research analysts that that provide coverage for S&P Global.

S&P Global (NYSE:SPGI) last announced its quarterly earnings results on Thursday, August 1st. The business services provider reported $2.43 EPS for the quarter, beating the Zacks’ consensus estimate of $2.28 by $0.15. The business had revenue of $1.70 billion during the quarter, compared to analyst estimates of $1.65 billion. S&P Global had a net margin of 31.02% and a return on equity of 341.54%. S&P Global’s quarterly revenue was up 5.9% on a year-over-year basis. During the same quarter in the previous year, the business posted $2.17 EPS.

SPGI has been the subject of a number of recent research reports. JPMorgan Chase & Co. initiated coverage on shares of S&P Global in a research note on Wednesday, July 10th. They set an “overweight” rating and a $260.00 price target for the company. Argus boosted their price target on shares of S&P Global to $290.00 and gave the company a “buy” rating in a research note on Monday, August 5th. Zacks Investment Research upgraded shares of S&P Global from a “sell” rating to a “hold” rating in a research note on Monday, May 6th. Morgan Stanley boosted their price target on shares of S&P Global from $254.00 to $262.00 and gave the company an “equal weight” rating in a research note on Friday, August 2nd. Finally, Atlantic Securities downgraded shares of S&P Global from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $220.00 to $260.00 in a report on Tuesday, August 6th. Six analysts have rated the stock with a hold rating and nine have given a buy rating to the company. The stock presently has an average rating of “Buy” and an average price target of $252.23.

SPGI stock traded up $4.56 during midday trading on Thursday, reaching $253.17. 916,559 shares of the company’s stock traded hands, compared to its average volume of 1,181,080. The firm has a market capitalization of $62.60 billion, a P/E ratio of 29.78, a price-to-earnings-growth ratio of 2.76 and a beta of 1.08. The firm has a fifty day simple moving average of $242.21. The company has a debt-to-equity ratio of 7.52, a quick ratio of 1.37 and a current ratio of 1.37. S&P Global has a 52 week low of $156.68 and a 52 week high of $262.83.

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 11th. Shareholders of record on Tuesday, August 27th will be issued a dividend of $0.57 per share. This represents a $2.28 dividend on an annualized basis and a yield of 0.90%. The ex-dividend date of this dividend is Monday, August 26th. S&P Global’s dividend payout ratio is 26.82%.

In other S&P Global news, insider Nicholas Cafferillo sold 9,911 shares of S&P Global stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $252.95, for a total transaction of $2,506,987.45. Following the transaction, the insider now directly owns 7,454 shares of the company’s stock, valued at approximately $1,885,489.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Steven J. Kemps sold 5,500 shares of the business’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $249.88, for a total transaction of $1,374,340.00. Following the completion of the transaction, the executive vice president now directly owns 7,540 shares in the company, valued at $1,884,095.20. The disclosure for this sale can be found here. Insiders have sold a total of 16,418 shares of company stock worth $4,113,381 over the last ninety days. Insiders own 0.20% of the company’s stock.

Large investors have recently modified their holdings of the stock. Krane Funds Advisors LLC purchased a new stake in S&P Global in the second quarter worth $25,000. Coastal Investment Advisors Inc. raised its holdings in S&P Global by 409.1% in the second quarter. Coastal Investment Advisors Inc. now owns 112 shares of the business services provider’s stock worth $26,000 after purchasing an additional 90 shares in the last quarter. Coastal Capital Group Inc. bought a new position in S&P Global in the second quarter worth $27,000. Meridian Wealth Management LLC bought a new position in S&P Global in the first quarter worth $26,000. Finally, Harvest Group Wealth Management LLC bought a new position in S&P Global in the first quarter worth $28,000. 82.43% of the stock is currently owned by institutional investors.

About S&P Global

S&P Global Inc, together with its subsidiaries, provides ratings, benchmarks, analytics, and data to the capital and commodity markets worldwide. The company operates through four segments: S&P Global Ratings (Ratings), S&P Global Market Intelligence (Market Intelligence), S&P Global Platts (Platts), and S&P Dow Jones Indices (Indices).

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

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