Credit Suisse Group Reaffirms Neutral Rating for Moody’s Corporation (MCO)
Moody’s Corporation (NYSE:MCO)‘s stock had its “neutral” rating restated by investment analysts at Credit Suisse Group in a research report issued to clients and investors on Wednesday, The Fly reports. They presently have a $137.00 price objective on the business services provider’s stock, up from their previous price objective of $131.00. Credit Suisse Group’s price target indicates a potential upside of 2.98% from the stock’s previous close. The analysts noted that the move was a valuation call.
MCO has been the subject of several other research reports. Barclays PLC lifted their price target on shares of Moody’s Corporation from $118.00 to $128.00 and gave the company an “equal weight” rating in a research note on Wednesday, June 28th. UBS AG lifted their price target on shares of Moody’s Corporation from $138.00 to $142.00 and gave the company a “neutral” rating in a research note on Friday, August 18th. Zacks Investment Research downgraded shares of Moody’s Corporation from a “buy” rating to a “hold” rating in a research note on Monday, June 19th. BidaskClub downgraded shares of Moody’s Corporation from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating and set a $128.00 price target (up previously from $116.00) on shares of Moody’s Corporation in a research note on Monday, July 24th. Six investment analysts have rated the stock with a hold rating, one has given a buy rating and one has given a strong buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $135.43.
Shares of Moody’s Corporation (MCO) opened at 133.03 on Wednesday. The company’s 50-day moving average price is $129.17 and its 200 day moving average price is $118.77. The firm has a market cap of $25.41 billion, a PE ratio of 53.45 and a beta of 1.29. Moody’s Corporation has a 1-year low of $93.51 and a 1-year high of $135.20.
Moody’s Corporation (NYSE:MCO) last posted its quarterly earnings results on Friday, July 21st. The business services provider reported $1.51 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate 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 firm 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 posted $1.30 earnings per share. The company’s revenue was up 7.7% on a year-over-year basis. On average, analysts predict that Moody’s Corporation will post $5.60 EPS for the current year.
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In other Moody’s Corporation news, insider Raymond W. Mcdaniel sold 45,216 shares of Moody’s Corporation stock in a transaction on Monday, August 7th. The shares were sold at an average price of $129.03, for a total value of $5,834,220.48. Following the transaction, the insider now directly owns 292,310 shares of the company’s stock, valued at $37,716,759.30. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Linda Huber sold 13,698 shares of Moody’s Corporation stock in a transaction on Wednesday, June 14th. The stock was sold at an average price of $119.50, for a total transaction of $1,636,911.00. Following the completion of the transaction, the vice president now directly owns 77,836 shares in the company, valued at $9,301,402. The disclosure for this sale can be found here. Insiders sold 134,777 shares of company stock worth $16,802,772 over the last ninety days. Corporate insiders own 1.17% of the company’s stock.
Institutional investors have recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. purchased a new position in Moody’s Corporation during the first quarter valued at about $101,000. TrimTabs Asset Management LLC raised its position in Moody’s Corporation by 89.6% in the first quarter. TrimTabs Asset Management LLC now owns 965 shares of the business services provider’s stock valued at $108,000 after buying an additional 456 shares in the last quarter. American Beacon Advisors Inc. purchased a new position in Moody’s Corporation during the first quarter valued at about $108,000. State of Alaska Department of Revenue purchased a new position in Moody’s Corporation during the first quarter valued at about $113,000. Finally, Advisory Services Network LLC purchased a new position in Moody’s Corporation during the first quarter valued at about $137,000. 88.78% of the stock is currently owned by institutional investors and hedge funds.
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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