SPGI

With 2Q global debt issuance well above his expectations, Raymond James analyst Patrick O’Shaughnessy sees significant earnings upside for ratings powerhouse S&P Global. In a research note, O’Shaughnessy also says rallies across multiple stock markets and the S&P’s acquisition of investment research provider Visible Alpha complete the rosy picture. Raymond James, which has an outperform rating on shares, raises its target price on S&P Global to $491 from $462. S&P Global is up 0.6% to $463.08.

S&P Global Inc. (NYSE:SPGI) Stifel 2024 Cross Sector Insight Conference June 4, 2024 11:30 AM ET Company Participants Doug Peterson – President and Chief Executive Officer Conference Call Participants Shlomo Rosenbaum – Stifel Shlomo Rosenbaum I want to welcome all to Stifel’s 2024 Cross Sector Insight Conference. I’m here with the CEO, Doug, of S&P Global. I want to welcome you. Thank you very much for participating. Doug Peterson Appreciate it here. Thank you so much for hosting this. Shlomo Rosenbaum Yes, very welcome. Question-and-Answer Session Q – Shlomo Rosenbaum Just want to start off, S&P is a very multifaceted business right now. You’ve been here for a while, orchestrated a lot of the portfolio, and we certainly appreciate that. But I’m going to start asking you about the Ratings business for the simple reason, and that’s the first question that I always get from investors, no matter what is

By Hardika Singh Wall Street is showing little patience for companies that don’t live up to expectations. With the first-quarter earnings season nearly over, companies in the S&P 500 are on pace to deliver a 5.4% jump in profits from a year ago, the biggest increase in nearly two years, according to FactSet. But those that fall short of investor forecasts are being punished more heavily than usual. Shares of companies that missed estimates have slid an average of 2.8%, compared with the five-year average of a 2.3% decline. Meanwhile, companies that outperform aren’t being given any special prizes. Those that beat analyst forecasts have seen their shares gain an average 0.9%, roughly in line with the five-year average of a 1% advance. That is according to FactSet data that looked at share prices in the two days before companies reported through the two days after. “[The market] won’t ask

The following is a summary of the S&P Global Inc. (SPGI) Q1 2024 Earnings Call Transcript: Financial Performance: S&P Global reported an overall revenue increase of 14% to nearly $3.5 billion in Q1, setting an all-time quarterly revenue high. Adjusted earnings per share also experienced significant growth, up by 27% to $4.01. Subscription revenue saw an 8% YoY growth, contributing significantly to the total company revenue, and was driven by the transaction revenue from the Ratings Division. A high figure for billed issuance of almost $1 trillion was achieved in Q1, an increase of 45% YoY. Full-year revenue growth is predicted to fall within a 6% to 8% range. Business Progress: S&P Global is prioritizing advancements in artificial intelligence, launching customer interaction tools, and looking at improving productivity through new tools such as S&P SPARK Assist. The company reported substantial progress with financial synergies, already achieving $56 million in revenue

CFRA, an independent research provider, has provided MT Newswires with the following research alert. Analysts at CFRA have summarized their opinion as follows: We decrease our 12-month target price by $20 to $510, a forward P/E of 31.2x our 2025 earnings estimate, a premium to the peer average of 23.3x given higher recurring revenue and expectations for outsized growth. We increase our 2024 EPS by $0.16 to $14.69 and reduce 2025’s by $0.18 to $16.35. SPGI posted Q1 adjusted EPS of $4.01 vs. $3.15 a year ago, a $0.35 earnings beat. It was an excellent quarter for SPGI as revenue growth accelerated to 10% from 7% in the previous quarter. Leading the way was the Ratings segment (+29% Y/Y) as favorable market conditions led to a 45% surge in billed issuance. Although management improved its 2024 Ratings guidance by 100 bps to 7%-9%, we continue to see an upside as

BMO Capital analyst Jeffrey Silber maintains S&P Global (NYSE:SPGI) with a Outperform and raises the price target from $480 to $483.

Two years following the landmark merger between S&P Global Inc. and IHS Markit, Martina Cheung, President of S&P Global Ratings, reflects on the integration’s success and future opportunities at the BofA Securities Information and Business Services Conference. The merger has yielded significant cost savings through reduced shared services and renegotiated third-party licenses. More importantly, it has enhanced the Ratings division’s access to high-value data, such as Mobility, Commodity Insights, and fixed income data from Market Intelligence. This integration has not only streamlined internal processes but also bolstered the division’s research capabilities, a cornerstone of S&P’s value proposition to investors. Cheung highlighted the synergy between IHS Markit’s products and S&P’s credit ratings, which has led to increased referrals across S&P Global’s divisions. As the President of Ratings, Cheung’s priorities align with the company’s strategic pillars discussed during Investor Day, focusing on expanding the core Ratings business, enhancing non-transaction services, and addressing

By Joseph Adinolfi Companies around the world are defaulting on their debt at the fastest pace since the global financial crisis as high interest rates and stubborn inflation continue to take their toll, according to a report from S&P Global Ratings. According to S&P, the number of corporate defaults has climbed to 29 since the start of the year, the most highest tally at this point in a year since 2009. While the majority of defaults occurred in the U.S., an uptick in European bankruptcies is alarming analysts. Since January, eight European companies have defaulted, more than double the three defaults that had been seen by this point in 2023. By comparison, 17 defaults occurred in the U.S., slightly less than the 18 seen at this juncture from last year. While the U.S. has seen a plurality of defaults, Europe has seen companies fail to make payments on their debt

February car sales will see a slight rebound from January, but new vehicles sales will still remain low, S&P Global Mobility says. With volume for the month projected at 1.22 million units, February U.S. auto sales are estimated to translate to an estimated 2024 sales pace of 15.5 million units. This would be a step up from the 15 million unit pace of January, and reflective of the volatile nature of the current auto demand environment. “While pricing, inventory and incentive trends are seemingly moving in the correct directions, respectively, to promote new vehicle sales growth, high interest rates and uncertain economic conditions continue to push against any consistent upshift for demand levels,” says Chris Hopson, principal analyst at S&P Global Mobility.

S&P Global (NYSE:SPGI) Stock Analyst Ratings Date Upside/Downside Analyst Firm Price Target Change Rating Change Previous / Current Rating 02/12/2024 15.64% RBC Capital → $500 Reiterates Outperform → Outperform 02/09/2024 15.64% RBC Capital → $500 Reiterates Outperform → Outperform 01/09/2024 4.54% Raymond James $422 → $452 Maintains Outperform 10/05/2023 -6.79% Raymond James $421 → $403 Maintains Outperform 10/03/2023 -1.94% Morgan Stanley $450 → $424 Maintains Overweight 07/28/2023 4.31% Baird $460 → $451 Maintains Outperform 07/28/2023 2% Oppenheimer $425 → $441 Maintains Outperform 07/28/2023 8.7% Barclays $425 → $470 Maintains Overweight 07/13/2023 4.08% Wells Fargo $415 → $450 Maintains Overweight 07/12/2023 -2.63% Raymond James $413 → $421 Maintains Outperform 07/10/2023 -1.24% Morgan Stanley $400 → $427 Maintains Overweight 06/15/2023 7.55% B of A Securities → $465 Initiates Coverage On → Buy 06/14/2023 0.38% RBC Capital → $434 Reiterates Outperform → Outperform 05/09/2023 -4.02% Wells Fargo → $415 Initiates Coverage On →

UBS Adjusts S&P Global (NYSE: SPGI) Price Target to $505 From $460, Maintains Buy Rating.