Moody’s Corp. (MCO) Given New $125.00 Price Target at Barclays PLC
Moody’s Corp. (NYSE:MCO) had its price target upped by research analysts at Barclays PLC from $120.00 to $125.00 in a research report issued to clients and investors on Wednesday. The brokerage currently has an “overweight” rating on the stock. Barclays PLC’s price objective points to a potential upside of 15.79% from the stock’s previous close.
Several other research analysts have also weighed in on MCO. Zacks Investment Research upgraded shares of Moody’s Corp. from a “sell” rating to a “hold” rating in a research note on Thursday, June 2nd. Credit Suisse Group AG began coverage on shares of Moody’s Corp. in a report on Monday, July 11th. They set a “neutral” rating and a $99.00 target price for the company. Morgan Stanley reaffirmed an “overweight” rating and set a $114.00 target price on shares of Moody’s Corp. in a report on Tuesday, July 19th. Cantor Fitzgerald reaffirmed a “hold” rating and set a $96.00 target price on shares of Moody’s Corp. in a report on Friday, July 22nd. Finally, Argus lifted their target price on shares of Moody’s Corp. from $110.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, August 17th. Eight research analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company. The company currently has a consensus rating of “Hold” and an average price target of $106.96.
Shares of Moody’s Corp. (NYSE:MCO) opened at 107.95 on Wednesday. The firm’s 50-day moving average is $106.39 and its 200 day moving average is $99.60. Moody’s Corp. has a 52 week low of $77.76 and a 52 week high of $110.83. The firm has a market capitalization of $20.75 billion, a P/E ratio of 24.11 and a beta of 1.26.
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Moody’s Corp. (NYSE:MCO) last released its quarterly earnings data on Friday, July 22nd. The company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.03. The company had revenue of $928.90 million for the quarter, compared to analyst estimates of $909.08 million. Moody’s Corp. had a net margin of 25.81% and a negative return on equity of 273.01%. Moody’s Corp.’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same period in the previous year, the business earned $1.28 EPS. Equities research analysts forecast that Moody’s Corp. will post $4.57 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Monday, September 12th. Stockholders of record on Monday, August 22nd were issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.37%. The ex-dividend date was Thursday, August 18th. Moody’s Corp.’s dividend payout ratio (DPR) is presently 33.18%.
In other news, SVP Blair Worrall sold 11,054 shares of the company’s stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $103.39, for a total transaction of $1,142,873.06. Following the completion of the sale, the senior vice president now owns 13,062 shares of the company’s stock, valued at approximately $1,350,480.18. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, VP Linda Huber sold 182,595 shares of the company’s stock in a transaction that occurred on Tuesday, September 6th. The stock was sold at an average price of $110.13, for a total transaction of $20,109,187.35. Following the sale, the vice president now directly owns 63,637 shares of the company’s stock, valued at approximately $7,008,342.81. The disclosure for this sale can be found here. Insiders own 1.48% of the company’s stock.
Several hedge funds have recently modified their holdings of the company. NN Investment Partners Holdings N.V. purchased a new stake in shares of Moody’s Corp. during the first quarter worth $103,000. Ropes Wealth Advisors LLC increased its stake in shares of Moody’s Corp. by 614.2% in the second quarter. Ropes Wealth Advisors LLC now owns 1,407 shares of the company’s stock worth $132,000 after buying an additional 1,210 shares during the period. FNY Managed Accounts LLC purchased a new stake in shares of Moody’s Corp. during the second quarter worth $190,000. Pinkerton Retirement Specialists LLC purchased a new stake in shares of Moody’s Corp. during the second quarter worth $196,000. Finally, Janney Montgomery Scott LLC purchased a new stake in shares of Moody’s Corp. during the second quarter worth $208,000. 86.91% of the stock is owned by institutional investors.
About Moody’s Corp.
Moody’s Corporation (Moody’s) 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 financial institution customers.
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