Moody’s Corporation Plans Quarterly Dividend of $0.38 (NYSE:MCO)
Moody’s Corporation (NYSE:MCO) announced a quarterly dividend on Tuesday, July 11th, RTT News reports. Stockholders of record on Tuesday, August 22nd will be paid a dividend of 0.38 per share by the business services provider on Tuesday, September 12th. This represents a $1.52 annualized dividend and a dividend yield of 1.24%.
Moody’s Corporation has raised its dividend payment by an average of 18.0% annually over the last three years and has increased its dividend annually for the last 7 consecutive years. Moody’s Corporation has a payout ratio of 28.6% indicating that its dividend is sufficiently covered by earnings. Equities analysts expect Moody’s Corporation to earn $5.79 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 26.3%.
Shares of Moody’s Corporation (NYSE:MCO) traded down 0.34% during mid-day trading on Tuesday, hitting $122.61. 586,818 shares of the stock traded hands. Moody’s Corporation has a 12-month low of $93.51 and a 12-month high of $124.40. The firm’s 50 day moving average price is $117.94 and its 200-day moving average price is $110.49. The stock has a market cap of $23.46 billion, a P/E ratio of 55.78 and a beta of 1.29.
Moody’s Corporation (NYSE:MCO) last released its earnings results on Friday, May 5th. The business services provider reported $1.47 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.24 by $0.23. The firm had revenue of $975.20 million for the quarter, compared to analysts’ expectations of $914.27 million. Moody’s Corporation had a net margin of 11.37% and a negative return on equity of 167.79%. Moody’s Corporation’s quarterly revenue was up 19.5% on a year-over-year basis. During the same quarter last year, the company earned $0.93 EPS. Analysts predict that Moody’s Corporation will post $5.33 earnings per share for the current year.
In other news, Director Darrell Duffie sold 500 shares of the business’s stock in a transaction dated Friday, June 30th. The stock was sold at an average price of $121.64, for a total transaction of $60,820.00. Following the completion of the transaction, the director now directly owns 22,268 shares in the company, valued at approximately $2,708,679.52. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, EVP John J. Goggins sold 50,000 shares of the business’s stock in a transaction dated Tuesday, May 30th. The stock was sold at an average price of $116.79, for a total value of $5,839,500.00. Following the transaction, the executive vice president now owns 106,221 shares of the company’s stock, valued at $12,405,550.59. The disclosure for this sale can be found here. Insiders have sold a total of 212,612 shares of company stock valued at $25,104,433 over the last three months. Company insiders own 1.17% of the company’s stock.
Several equities analysts have recently weighed in on the stock. Zacks Investment Research lowered shares of Moody’s Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday. BidaskClub raised shares of Moody’s Corporation from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 30th. Barclays PLC increased their price target on shares of Moody’s Corporation from $118.00 to $128.00 and gave the stock an “equal weight” rating in a research report on Wednesday, June 28th. Morgan Stanley raised their price objective on shares of Moody’s Corporation from $118.00 to $121.00 and gave the company an “equal weight” rating in a research report on Monday, May 8th. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and set a $116.00 price objective on shares of Moody’s Corporation in a research report on Monday, May 8th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating, one has issued a buy rating and one has given a strong buy rating to the company’s stock. Moody’s Corporation currently has an average rating of “Hold” and an average price target of $119.00.
About Moody’s Corporation
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 research and analytical services to financial institution customers.
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