Goldman Sachs Increases Moody's Co. Price Target to $83.00 (MCO)
Equities researchers at Goldman Sachs raised their price objective on shares of Moody's Co. (NYSE:MCO) from $80.00 to $83.00 in a research report issued on Tuesday. Goldman Sachs’ price objective points to a potential downside of 5.90% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Analysts at Benchmark Co. raised their price target on shares of Moody's Co. from $81.00 to $96.00 in a research note on Tuesday, July 29th. Separately, analysts at Barclays reiterated an “overweight” rating on shares of Moody's Co. in a research note on Monday, July 28th. They now have a $104.00 price target on the stock, up previously from $100.00. Finally, analysts at FBR Capital Markets raised their price target on shares of Moody's Co. from $95.00 to $105.00 in a research note on Friday, July 25th. They now have an “outperform” rating on the stock. Four investment analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $90.40.
Moody's Co. (NYSE:MCO) traded down 0.77% during mid-day trading on Tuesday, hitting $87.52. 96,628 shares of the company’s stock traded hands. Moody's Co. has a 1-year low of $62.95 and a 1-year high of $95.00. The stock has a 50-day moving average of $88.78 and a 200-day moving average of $82.32. The company has a market cap of $18.484 billion and a price-to-earnings ratio of 20.83.
Moody's Co. (NYSE:MCO) last announced its earnings results on Friday, July 25th. The company reported $1.12 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.11. The company had revenue of $873.50 million for the quarter, compared to the consensus estimate of $801.50 million. During the same quarter in the previous year, the company posted $1.00 earnings per share. The company’s revenue for the quarter was up 15.5% on a year-over-year basis. Analysts expect that Moody's Co. will post $4.01 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which is scheduled for Wednesday, September 10th. Stockholders of record on Wednesday, August 20th will be given a dividend of $0.28 per share. This represents a $1.12 dividend on an annualized basis and a yield of 1.27%. The ex-dividend date of this dividend is Monday, August 18th.
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.
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