S&P Global Analysts Increase Their Forecasts After Strong Earnings

S&P Global Inc. SPGI posted upbeat earnings for its fourth quarter on Tuesday.

The company reported fourth-quarter adjusted earnings per share of $3.77, beating the street view of $3.48. Quarterly sales of $3.592 billion (+14%) outpaced the analyst consensus estimate of $3.503 billion, driven by growth in all divisions.

The company said it successfully executed its leadership transition, with Martina Cheung assuming the role of President and CEO on November 1, 2024.

"As S&P Global's new CEO, I have had hundreds of conversations with our customers and partners, who have reinforced the need for our benchmarks, data, and insights to guide their decisions in a constantly evolving market," Cheung added.

For the full year 2025, S&P Global maintains its target of returning 85% or more of adjusted free cash flow to shareholders through dividends and share repurchases. The company projects FY25 revenue growth of 5% – 7%, along with adjusted EPS in the range of $17.00 to $17.25. This guidance is above the $16.92 estimate.

S&P Global expects 2025 cash provided by operating activities, less capital expenditures and distributions to noncontrolling interest holders, of ~$5.9 billion. It expects adjusted free cash flow, excluding certain items, of $6 billion.

S&P Global shares fell 2% to trade at $530.01 on Wednesday.

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

• Evercore ISI Group analyst David Motemeden maintained S&P Global with an Outperform and raised the price target from $599 to $608.
• Wells Fargo analyst Jason Haas maintained the stock with an Overweight and boosted the price target from $617 to $633.
• Morgan Stanley analyst Toni Kaplan maintained S&P Global with an Overweight and increased the price target from $595 to $600.

Considering buying SPGI stock? Here’s what analysts think:

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