Moody’s Corporation (MCO) Earns “Neutral” Rating from Cantor Fitzgerald
Moody’s Corporation (NYSE:MCO)‘s stock had its “neutral” rating reiterated by analysts at Cantor Fitzgerald in a research report issued on Monday. They currently have a $128.00 price objective on the business services provider’s stock, up from their previous price objective of $116.00. Cantor Fitzgerald’s price objective points to a potential downside of 3.45% from the company’s previous close.
Other equities analysts have also issued research reports about the stock. BidaskClub lowered shares of Moody’s Corporation from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Zacks Investment Research raised shares of Moody’s Corporation from a “sell” rating to a “buy” rating and set a $140.00 price target for the company in a research report on Monday, July 17th. Morgan Stanley upped their price target 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. Barclays PLC upped 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. Finally, BMO Capital Markets reiterated a “hold” rating and set a $124.00 price objective on shares of Moody’s Corporation in a research note on Wednesday, April 26th. Six investment analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and an average price target of $120.13.
Moody’s Corporation (NYSE MCO) traded up 0.652% during mid-day trading on Monday, hitting $133.435. 1,417,404 shares of the stock traded hands. The firm’s 50-day moving average is $121.41 and its 200-day moving average is $113.32. The company has a market cap of $25.49 billion, a price-to-earnings ratio of 53.610 and a beta of 1.29. Moody’s Corporation has a 12-month low of $93.51 and a 12-month high of $135.20.
Moody’s Corporation (NYSE:MCO) last posted its quarterly earnings data on Friday, July 21st. The business services provider reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.18. Moody’s Corporation had a net margin of 12.63% and a negative return on equity of 167.31%. The business had revenue of $1 billion during the quarter, compared to analyst estimates of $968.78 million. During the same quarter in the previous year, the business posted $1.30 earnings per share. The company’s revenue was up 7.7% on a year-over-year basis. Equities research analysts expect that Moody’s Corporation will post $5.43 EPS for the current year.
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In related news, insider Raymond W. Mcdaniel sold 61,666 shares of the stock in a transaction dated Friday, July 7th. The shares were sold at an average price of $123.23, for a total value of $7,599,101.18. Following the sale, the insider now owns 308,760 shares of the company’s stock, valued at approximately $38,048,494.80. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Raymond W. Mcdaniel sold 61,667 shares of the stock in a transaction dated Wednesday, May 17th. The stock was sold at an average price of $113.35, for a total transaction of $6,989,954.45. Following the completion of the sale, the insider now directly owns 308,761 shares in the company, valued at approximately $34,998,059.35. The disclosure for this sale can be found here. Insiders have sold 212,612 shares of company stock worth $25,104,433 over the last three months. 1.17% of the stock is owned by corporate insiders.
Hedge funds have recently added to or reduced their stakes in the company. Gilbert & Cook Inc. purchased a new stake in Moody’s Corporation during the second quarter worth $278,000. Huntington National Bank boosted its stake in Moody’s Corporation by 20.3% in the second quarter. Huntington National Bank now owns 9,725 shares of the business services provider’s stock worth $1,184,000 after buying an additional 1,640 shares during the period. Bridges Investment Counsel Inc. purchased a new stake in Moody’s Corporation during the second quarter worth $341,000. APG Asset Management N.V. boosted its stake in Moody’s Corporation by 3.2% in the second quarter. APG Asset Management N.V. now owns 1,829,238 shares of the business services provider’s stock worth $222,582,000 after buying an additional 56,700 shares during the period. Finally, Whittier Trust Co. of Nevada Inc. boosted its stake in Moody’s Corporation by 5.3% in the second quarter. Whittier Trust Co. of Nevada Inc. now owns 3,668 shares of the business services provider’s stock worth $446,000 after buying an additional 185 shares during the period. 88.67% of the stock is currently owned by institutional investors and hedge funds.
Moody’s Corporation Company Profile
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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