S&P Global Inc is one of the leading financial research companies in the world. It is best known for the S&P 500 index. S&P Global has a business segment that specifically deals with providing index data. The indices segment, in fact, has operating margins as high as 70%. S&P Global also offers the investor community the popular market intelligence software CapitalIQ. If you are an investor looking to buy financial stock now, then it may be a good idea to look at niches within the financial services industry rather than go for traditional banking or insurance stocks. Companies like S&P Global have grown significantly over the past decade or so. Besides, track record and trust are the most important factors in this industry as users of data have to be convinced of its accuracy and the credibility of the data provider. S&P Global has a long track record and a strong brand.
S&P Global Reports Q12021 Earnings Numbers
On 29th April 2021, S&P Global reported its first-quarter 2021 earnings numbers. Total revenue was up 13% year-on-year from $1.78 billion in Q12020 to $2 billion in Q12021. Operating profit was up 19% year-on-year from $912 million in Q12020 to $1.08 billion. Net income per share on a diluted basis was up from $2.62 per share in Q12020 to $3.12 per share. Company CEO Doug Peterson said that the increase in revenue was an exceptional result for the company. He added that the rating business saw growth due to an uptick in leveraged loans and other structured finance. The company continued to invest in new products and emerging areas like ESG. S&P Global could be one of the candidates for the best financial stock 2021.
Buy Financial Stock Now
S&P Global’s stock has been trading close to its 52-week high. The price closed at $412.36 on 25th June 2021, while the 52-week high was $412.93. The stock is up about 24% year-to-date.