2024-02-19 01:21:49 ET
Summary
- S&P Global disappointed investors in Q4 earnings, missing EPS and providing lower-than-consensus guidance.
- Management's failure to manage expectations and set a high bar for the report was a mistake.
- Growth deceleration across main segments and a return-to-normalization rather than a sharp recovery, all justify an average valuation, which is where the stock is currently at.
- S&P Global remains an attractive investment for the long term, but I see no drivers for near-term upside.
S&P Global ( SPGI ), a leading financial information services company and a cornerstone in many long-term portfolios, has let down investors in its recent Q4 earnings.
Admittedly, I too was wrong in my estimates coming into the print , although I think management played a big role in setting the bar too high, as we'll discuss in detail....
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For further details see:
S&P Global: Everything Investors Didn't (And Shouldn't) Like In The Report