Moody’s Corporation (MCO) Plans Quarterly Dividend of $0.38
Moody’s Corporation (NYSE:MCO) declared a quarterly dividend on Tuesday, October 24th, RTT News reports. Stockholders of record on Tuesday, November 21st will be given a dividend of 0.38 per share by the business services provider on Tuesday, December 12th. This represents a $1.52 annualized dividend and a dividend yield of 1.03%.
Moody’s Corporation has raised its dividend payment by an average of 18.0% annually over the last three years and has raised its dividend annually for the last 7 consecutive years. Moody’s Corporation has a payout ratio of 26.9% meaning its dividend is sufficiently covered by earnings. Analysts expect Moody’s Corporation to earn $6.35 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 23.9%.
Moody’s Corporation (MCO) traded up 0.64% during trading on Tuesday, hitting $147.00. 711,358 shares of the stock traded hands. The firm’s 50-day moving average is $139.61 and its 200 day moving average is $126.78. Moody’s Corporation has a 52 week low of $93.51 and a 52 week high of $147.69. The stock has a market cap of $28.08 billion, a P/E ratio of 59.06 and a beta of 1.28.
Moody’s Corporation (NYSE:MCO) last released its quarterly earnings results on Friday, July 21st. The business services provider reported $1.51 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.33 by $0.18. The business 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 firm’s revenue for the quarter was up 7.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.30 earnings per share. Equities research analysts forecast that Moody’s Corporation will post $5.69 earnings per share for the current fiscal year.
In other news, insider Raymond W. Mcdaniel sold 45,216 shares of the business’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $134.16, for a total transaction of $6,066,178.56. Following the completion of the transaction, the insider now directly owns 292,310 shares in the company, valued at approximately $39,216,309.60. The transaction 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 business’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $138.41, for a total value of $69,205.00. Following the transaction, the director now owns 21,804 shares of the company’s stock, valued at $3,017,891.64. The disclosure for this sale can be found here. Insiders have sold a total of 90,932 shares of company stock valued at $11,969,604 over the last 90 days. Corporate insiders own 1.17% of the company’s stock.
Several analysts have weighed in on MCO shares. Credit Suisse Group reissued a “neutral” rating and set a $137.00 price objective (up from $131.00) on shares of Moody’s Corporation in a report on Wednesday, August 30th. They noted that the move was a valuation call. Barclays PLC boosted their price objective on Moody’s Corporation from $135.00 to $150.00 and gave the stock an “equal weight” rating in a report on Friday, September 15th. BidaskClub raised Moody’s Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, June 30th. UBS AG boosted their price objective on Moody’s Corporation from $138.00 to $142.00 and gave the stock a “neutral” rating in a report on Friday, August 18th. Finally, Morgan Stanley reissued an “equal weight” rating and set a $131.00 price objective (up from $122.00) on shares of Moody’s Corporation in a report on Tuesday, July 25th. Seven analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $141.50.
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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