S&P Global is an American company providing financial and business information, as well as analytics. It is the parent organization for the rating agency S&P Global Ratings and also holds a majority stake in S&P Dow Jones Indices, which is responsible for calculating the Dow Jones, S&P 500, and many other indices. The company demonstrates confident business dynamics. The fair value of S&P Global shares is $495, with an upside of 13.6%. The dividend yield is 0.84%.
Investment thesis
🔼Strong Financial Performance. The company presented a good report for Q1 2024. Revenue increased by 10.5% y/y, reaching $3.5 bln. Adjusted earnings per share (EPS) grew by 27.3% y/y to $4. Both indicators exceeded market expectations. Revenue from the credit rating segment showed significant growth (+29% y/y). S&P Global's net cash flow for Q1 2024 amounted to $851 million, of which $286 million was returned to shareholders in the form of dividends. 🔼Positive Outlook. In its quarterly report, S&P Global improved its forecasts for 2024. The company expects revenue growth of 6-8% (up from the previous 5.5-7.5%) and EPS in the range of $13.85-$14.10 (instead of $13.75-$14.00). Wall Street analysts also have faith in S&P Global. Over the past 3 months, the holding's revenue forecasts have been revised upwards 20 times and not once downwards.
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