Insider Selling: Joseph J. Mccabe Sells 17,420 Shares of Moody's Co. Stock (MCO)
Moody's Co. (NYSE:MCO) SVP Joseph J. Mccabe sold 17,420 shares of Moody's Co. stock on the open market in a transaction dated Friday, August 8th. The stock was sold at an average price of $87.25, for a total transaction of $1,519,895.00. Following the completion of the transaction, the senior vice president now directly owns 27,484 shares of the company’s stock, valued at approximately $2,397,979. The sale was disclosed in a filing with the SEC, which can be accessed through this link.
Shares of Moody's Co. (NYSE:MCO) traded up 1.60% on Monday, hitting $89.31. 985,685 shares of the company’s stock traded hands. Moody's Co. has a 52 week low of $62.95 and a 52 week high of $95.00. The stock’s 50-day moving average is $88.85 and its 200-day moving average is $82.5. The company has a market cap of $18.862 billion and a price-to-earnings ratio of 20.76.
Moody's Co. (NYSE:MCO) last posted its quarterly earnings results on Friday, July 25th. The company reported $1.12 earnings per share for the quarter, beating the analysts’ 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 last year, the company posted $1.00 earnings per share. Moody's Co.’s revenue was up 15.5% compared to the same quarter last year. On average, analysts predict that Moody's Co. will post $4.01 earnings per share 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.
A number of analysts have recently weighed in on MCO shares. Analysts at Goldman Sachs raised their price target on shares of Moody's Co. from $80.00 to $83.00 in a research note on Tuesday, August 5th. Separately, 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. Finally, 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. Three research analysts have rated the stock with a hold rating and five have issued a buy rating to the company. Moody's Co. currently has an average rating of “Buy” and an average price target of $90.33.
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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