These Analysts Increase Their Forecasts On S&P Global Following Better-Than-Expected Earnings

Author: Avi Kapoor | July 31, 2024 02:43pm

S&P Global Inc. (NYSE:SPGI) reported better-than-expected second-quarter financial results and raised its FY24 guidance on Tuesday.

S&P Global reported quarterly adjusted EPS of $4.04, which beat the analyst consensus estimate of $3.65 and represented a 30% increase year over year. Quarterly sales were $3.55 billion, beating the analyst consensus estimate of $3.42 billion and representing a 14% increase year over year, driven by growth in all divisions.

S&P Global raised its full-year 2024 revenue outlook from to 8.0% – 10.0% (prior 6% – 8%) versus the consensus of $13.55 billion. The company sees full-year adjusted EPS of $14.35 – $14.60 (prior $13.85 – $14.10), versus the $14.33 estimate.

S&P Global shares fell 0.7% to trade at $484.98 on Wednesday.

These analysts made changes to their price targets on S&P Global following earnings announcement.

• Oppenheimer analyst Owen Lau maintained S&P Global with an Outperform, while raising the price target from $486 to $540.
• RBC Capital analyst Ashish Sabadra maintained the stock with an Outperform and raised the price target from $500 to $552.
• Stifel analyst Shlomo Rosenbaum maintained with a Buy rating and boosted the price target from $535 to $540.
• JP Morgan analyst Andrew Steinerman maintained S&P Global with an Overweight and boosted the price target from $550 to $565.
• BMO Capital analyst Jeffrey Silber maintained S&P Global with an Outperform and increased the price target from $532 to $537.

Read Next:

• Jim Cramer Says This Home Improvement Chain Is A Buy Ahead Of Fed Rate Cut Cycle: ‘I Would Pick Some Up Tomorrow‘

Posted In: SPGI