Moody’s Corporation (MCO) Receives Consensus Rating of “Hold” from Brokerages
Moody’s Corporation (NYSE:MCO) has earned an average rating of “Hold” from the nine ratings firms that are currently covering the company, Marketbeat reports. Six research analysts have rated the stock with a hold recommendation, one has given a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokers that have issued a report on the stock in the last year is $138.86.
Several equities analysts have recently commented on MCO shares. Zacks Investment Research upgraded Moody’s Corporation from a “hold” rating to a “buy” rating and set a $148.00 target price for the company in a research note on Thursday, August 17th. BidaskClub cut Moody’s Corporation from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Morgan Stanley reiterated an “equal weight” rating and set a $131.00 target price (up from $122.00) on shares of Moody’s Corporation in a research note on Tuesday, July 25th. Barclays PLC reiterated an “equal weight” rating and set a $135.00 target price (up from $128.00) on shares of Moody’s Corporation in a research note on Monday, July 24th. Finally, BMO Capital Markets increased their target price on 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.
Moody’s Corporation (NYSE:MCO) traded up 1.02% during mid-day trading on Friday, reaching $136.33. 936,915 shares of the company’s stock were exchanged. The company has a market capitalization of $26.04 billion, a P/E ratio of 54.77 and a beta of 1.30. Moody’s Corporation has a 52 week low of $93.51 and a 52 week high of $136.82. The company’s 50 day moving average price is $132.03 and its 200-day moving average price is $121.18.
Moody’s Corporation (NYSE:MCO) last released its earnings results on Friday, July 21st. The business services provider reported $1.51 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.18. The company had revenue of $1 billion during the quarter, compared to analysts’ expectations of $968.78 million. Moody’s Corporation had a negative return on equity of 167.31% and a net margin of 12.63%. The business’s revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the business posted $1.30 EPS. On average, equities research analysts expect that Moody’s Corporation will post $5.63 earnings per share for the current fiscal year.
The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 12th. Investors of record on Tuesday, August 22nd were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.11%. The ex-dividend date was Friday, August 18th. Moody’s Corporation’s dividend payout ratio (DPR) is presently 61.29%.
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In related news, Director Darrell Duffie sold 500 shares of the firm’s stock in a transaction on Friday, June 30th. The stock was sold at an average price of $121.64, for a total transaction of $60,820.00. Following the transaction, the director now directly owns 22,268 shares in the company, valued at $2,708,679.52. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, VP Linda Huber sold 13,697 shares of the firm’s stock in a transaction on Monday, June 19th. The stock was sold at an average price of $122.05, for a total value of $1,671,718.85. Following the transaction, the vice president now owns 77,835 shares in the company, valued at $9,499,761.75. The disclosure for this sale can be found here. Insiders have sold 166,295 shares of company stock worth $21,232,039 over the last 90 days. 1.17% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in MCO. Oppenheimer Asset Management Inc. bought a new position in Moody’s Corporation during the first quarter worth $101,000. TrimTabs Asset Management LLC lifted its stake in 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 purchasing an additional 456 shares during the last quarter. American Beacon Advisors Inc. bought a new position in Moody’s Corporation during the first quarter worth $108,000. IFP Advisors Inc lifted its stake in 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 purchasing an additional 502 shares during the last quarter. Finally, Sun Life Financial INC lifted its stake in Moody’s Corporation by 12,200.0% during the second quarter. Sun Life Financial INC now owns 1,230 shares of the business services provider’s stock worth $150,000 after purchasing an additional 1,220 shares during the last quarter. Hedge funds and other institutional investors own 88.78% of the company’s stock.
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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