Moody’s Corporation (NYSE:MCO) issued its quarterly earnings results on Friday. The business services provider reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.33 by $0.18, Bloomberg Earnings reports. Moody’s Corporation had a net margin of 11.37% and a negative return on equity of 167.79%. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $968.78 million. During the same quarter in the previous year, the firm earned $1.30 earnings per share. The firm’s quarterly revenue was up 7.7% on a year-over-year basis. Moody’s Corporation updated its FY17 guidance to $5.35-5.50 EPS.

Shares of Moody’s Corporation (MCO) traded up 3.63% during trading on Friday, reaching $131.79. 1,411,720 shares of the company’s stock traded hands. The company has a 50 day moving average of $121.41 and a 200-day moving average of $113.32. Moody’s Corporation has a 1-year low of $93.51 and a 1-year high of $133.55. The company has a market capitalization of $25.21 billion, a price-to-earnings ratio of 59.96 and a beta of 1.29.

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Tuesday, August 22nd will be issued a $0.38 dividend. The ex-dividend date of this dividend is Friday, August 18th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.20%. Moody’s Corporation’s payout ratio is 70.05%.

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Several brokerages have recently weighed in on MCO. Barclays PLC boosted their price objective 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. BMO Capital Markets restated a “hold” rating and set a $124.00 price objective on shares of Moody’s Corporation in a research report on Wednesday, April 26th. Morgan Stanley boosted their price objective on shares of Moody’s Corporation from $118.00 to $121.00 and gave the stock an “equal weight” rating in a research report on Monday, May 8th. Zacks Investment Research downgraded shares of Moody’s Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Finally, Cantor Fitzgerald restated a “hold” rating and set a $116.00 price objective on shares of Moody’s Corporation in a research report on Monday, May 8th. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. The stock has a consensus rating of “Hold” and an average price target of $118.63.

In other Moody’s Corporation news, insider Raymond W. Mcdaniel sold 61,667 shares of the stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $113.35, for a total value of $6,989,954.45. Following the sale, the insider now directly owns 308,761 shares of the company’s stock, valued at $34,998,059.35. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Darrell Duffie sold 500 shares of the stock in a transaction on Friday, June 30th. The stock was sold at an average price of $121.64, for a total value of $60,820.00. Following the completion of the sale, the director now directly owns 22,268 shares in the company, valued at $2,708,679.52. The disclosure for this sale can be found here. Insiders sold 212,612 shares of company stock worth $25,104,433 over the last ninety days. 1.17% of the stock is owned by corporate insiders.

A number of large investors have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of Moody’s Corporation by 3.2% in the first quarter. Vanguard Group Inc. now owns 15,739,681 shares of the business services provider’s stock valued at $1,763,474,000 after buying an additional 490,573 shares in the last quarter. BlackRock Inc. raised its position in shares of Moody’s Corporation by 2,616.3% in the first quarter. BlackRock Inc. now owns 10,181,036 shares of the business services provider’s stock worth $1,140,681,000 after buying an additional 9,806,220 shares during the period. State Street Corp raised its position in shares of Moody’s Corporation by 2.0% in the first quarter. State Street Corp now owns 7,581,302 shares of the business services provider’s stock worth $849,399,000 after buying an additional 148,527 shares during the period. Massachusetts Financial Services Co. MA raised its position in shares of Moody’s Corporation by 4.3% in the first quarter. Massachusetts Financial Services Co. MA now owns 6,311,225 shares of the business services provider’s stock worth $707,110,000 after buying an additional 260,398 shares during the period. Finally, Akre Capital Management LLC raised its position in shares of Moody’s Corporation by 21.9% in the first quarter. Akre Capital Management LLC now owns 5,679,831 shares of the business services provider’s stock worth $636,368,000 after buying an additional 1,019,167 shares during the period. 88.62% of the stock is currently owned by hedge funds and other institutional investors.

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.

Earnings History for Moody`s Corporation (NYSE:MCO)

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