Moody’s Corporation (MCO) Announces Quarterly Earnings Results, Beats Estimates By $0.15 EPS
Moody’s Corporation (NYSE:MCO) released its quarterly earnings results on Friday. The business services provider reported $1.52 EPS for the quarter, topping the consensus estimate of $1.37 by $0.15, Bloomberg Earnings reports. The firm had revenue of $1.06 billion for the quarter, compared to analyst estimates of $992.81 million. Moody’s Corporation had a negative return on equity of 167.31% and a net margin of 12.63%. Moody’s Corporation’s revenue for the quarter was up 15.9% on a year-over-year basis. During the same period in the previous year, the company posted $1.34 EPS. Moody’s Corporation updated its FY17 guidance to $5.85-6.00 EPS.
Shares of Moody’s Corporation (NYSE:MCO) traded up $1.60 during midday trading on Friday, hitting $145.09. The stock had a trading volume of 1,139,608 shares, compared to its average volume of 685,200. The firm has a market cap of $27,414.23, a P/E ratio of 25.86 and a beta of 1.35.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Tuesday, November 21st will be issued a $0.38 dividend. The ex-dividend date of this dividend is Monday, November 20th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.07%. Moody’s Corporation’s dividend payout ratio (DPR) is 61.29%.
In other Moody’s Corporation news, Director Darrell Duffie sold 500 shares of the firm’s stock in a transaction that occurred on Friday, September 29th. The stock was sold at an average price of $138.41, for a total value of $69,205.00. Following the sale, the director now owns 21,804 shares of the company’s stock, valued at approximately $3,017,891.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Raymond W. Mcdaniel sold 45,216 shares of the firm’s stock in a transaction that occurred on Thursday, September 7th. The shares were sold at an average price of $134.16, for a total value of $6,066,178.56. Following the completion of the sale, the insider now directly owns 292,310 shares in the company, valued at approximately $39,216,309.60. The disclosure for this sale can be found here. Insiders sold a total of 90,932 shares of company stock worth $11,969,604 in the last ninety days. Insiders own 1.17% of the company’s stock.
Several equities analysts recently commented on MCO shares. Credit Suisse Group reissued a “neutral” rating and set a $137.00 price target (up from $131.00) on shares of Moody’s Corporation in a research report on Wednesday, August 30th. They noted that the move was a valuation call. BMO Capital Markets reissued a “market perform” rating and set a $136.00 price target (up from $135.00) on shares of Moody’s Corporation in a research report on Wednesday, September 6th. Barclays PLC boosted their price target on Moody’s Corporation from $135.00 to $150.00 and gave the stock an “equal weight” rating in a research report on Friday, September 15th. Morgan Stanley reissued an “equal weight” rating and set a $131.00 price target (up from $122.00) on shares of Moody’s Corporation in a research report on Tuesday, July 25th. Finally, Zacks Investment Research lowered Moody’s Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Seven 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 company’s stock. The company currently has a consensus rating of “Hold” and a consensus price target of $141.50.
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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