Zacks: Analysts Anticipate Moody’s Corporation (MCO) to Announce $1.28 Earnings Per Share
Brokerages expect Moody’s Corporation (NYSE:MCO) to announce earnings of $1.28 per share for the current quarter, according to Zacks. Three analysts have provided estimates for Moody’s Corporation’s earnings, with the lowest EPS estimate coming in at $1.22 and the highest estimate coming in at $1.36. Moody’s Corporation reported earnings of $1.34 per share in the same quarter last year, which suggests a negative year-over-year growth rate of 4.5%. The business is expected to report its next quarterly earnings results on Friday, October 20th.
According to Zacks, analysts expect that Moody’s Corporation will report full year earnings of $5.50 per share for the current year, with EPS estimates ranging from $5.42 to $5.57. For the next fiscal year, analysts expect that the business will post earnings of $6.16 per share, with EPS estimates ranging from $6.05 to $6.33. Zacks’ EPS calculations are a mean average based on a survey of sell-side research firms that follow Moody’s Corporation.
Moody’s Corporation (NYSE:MCO) last announced its quarterly earnings results on Friday, July 21st. The business services provider reported $1.51 earnings per share for the quarter, topping analysts’ consensus estimates of $1.33 by $0.18. Moody’s Corporation had a negative return on equity of 167.31% and a net margin of 12.63%. The company had revenue of $1 billion during the quarter, compared to analysts’ expectations of $968.78 million. During the same quarter in the previous year, the firm earned $1.30 earnings per share. The business’s quarterly revenue was up 7.7% compared to the same quarter last year.
MCO has been the subject of several analyst reports. Zacks Investment Research cut Moody’s Corporation from a “buy” rating to a “hold” rating in a report on Monday, June 19th. BidaskClub cut Moody’s Corporation from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Barclays PLC raised their target price 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. BMO Capital Markets raised their target price on shares of Moody’s Corporation from $124.00 to $127.00 and gave the company a “market perform” rating in a research note on Friday, July 14th. Finally, Cantor Fitzgerald reiterated a “neutral” rating and issued a $128.00 target price (up from $116.00) on shares of Moody’s Corporation in a research note on Monday, July 24th. Six equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus target price of $136.71.
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Shares of Moody’s Corporation (NYSE:MCO) traded up 0.84% during mid-day trading on Friday, hitting $135.35. The company’s stock had a trading volume of 427,471 shares. The stock has a market cap of $25.86 billion, a PE ratio of 54.38 and a beta of 1.30. Moody’s Corporation has a 1-year low of $93.51 and a 1-year high of $135.76. The company has a 50-day moving average price of $131.62 and a 200-day moving average price of $120.37.
The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Stockholders of record on Tuesday, August 22nd will be given 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 1.12%. Moody’s Corporation’s payout ratio is 61.29%.
In related news, Director Darrell Duffie sold 500 shares of Moody’s Corporation stock in a transaction that occurred on Friday, June 30th. The shares were sold at an average price of $121.64, for a total value of $60,820.00. Following the transaction, the director now directly owns 22,268 shares of the company’s stock, valued at $2,708,679.52. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Raymond W. Mcdaniel sold 45,216 shares of Moody’s Corporation stock in a transaction that occurred on Monday, August 7th. The shares were sold at an average price of $129.03, for a total transaction of $5,834,220.48. Following the completion of the transaction, the insider now directly owns 292,310 shares in the company, valued at $37,716,759.30. The disclosure for this sale can be found here. Insiders sold 134,777 shares of company stock worth $16,802,772 over the last three months. 1.17% of the stock is currently owned by insiders.
A number of large investors have recently made changes to their positions in MCO. Oppenheimer Asset Management Inc. bought a new position in Moody’s Corporation in the first quarter valued at approximately $101,000. TrimTabs Asset Management LLC grew its stake in shares of Moody’s Corporation by 89.6% during the first quarter. TrimTabs Asset Management LLC now owns 965 shares of the business services provider’s stock worth $108,000 after buying an additional 456 shares during the last quarter. American Beacon Advisors Inc. bought a new stake in shares of Moody’s Corporation during the first quarter worth $108,000. State of Alaska Department of Revenue bought a new stake in shares of Moody’s Corporation during the first quarter worth $113,000. Finally, IFP Advisors Inc grew its stake in shares of Moody’s Corporation by 78.1% during the second quarter. IFP Advisors Inc now owns 1,145 shares of the business services provider’s stock worth $139,000 after buying an additional 502 shares during the last quarter. 88.78% 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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