Moody's Co. Reaches New 12-Month High After Analyst Upgrade (MCO)
Shares of Moody's Co. (NYSE:MCO) hit a new 52-week high during mid-day trading on Tuesday after Credit Suisse raised their price target on the stock from $97.00 to $102.00, American Banking News.com reports. Credit Suisse currently has an outperform rating on the stock. Moody's Co. traded as high as $89.92 and last traded at $89.87, with a volume of 341,895 shares traded. The stock had previously closed at $87.66.
Several other analysts have also recently commented on the stock. Analysts at Zacks reiterated a “neutral” rating on shares of Moody's Co. in a research note on Friday. They now have a $91.00 price target on the stock. Separately, analysts at FBR Capital Markets raised their price target on shares of Moody's Co. from $89.00 to $95.00 in a research note on Wednesday, May 28th. They now have an “outperform” rating on the stock. Five investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. Moody's Co. currently has a consensus rating of “Buy” and a consensus target price of $83.82.
The stock’s 50-day moving average is $85.09 and its 200-day moving average is $79.94. The company has a market cap of $19.220 billion and a price-to-earnings ratio of 23.25.
Moody's Co. (NYSE:MCO) last announced its earnings results on Friday, April 25th. The company reported $0.97 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.91 by $0.06. The company had revenue of $767.20 million for the quarter, compared to the consensus estimate of $770.18 million. During the same quarter in the previous year, the company posted $0.97 earnings per share. The company’s revenue for the quarter was up 4.8% on a year-over-year basis. Analysts expect that Moody's Co. will post $3.98 EPS for the current fiscal year.
Moody’s Corporation (NYSE:MCO) is a provider of credit ratings; credit, capital markets and economic related research, data and analytical tools; software solutions and related risk management services; quantitative credit risk measures, financial services training and certification services, and outsourced research and analytical services to institutional customers.
Get Analysts' Upgrades and Downgrades via Email - Stay on top of analysts' coverage with Analyst Ratings Network's FREE daily email newsletter that provides a concise list of analysts' upgrades and downgrades. Click here to register now.