Moody's (MCO) Rating Reiterated by Credit Suisse Group

Moody's (NYSE:MCO)‘s stock had its “neutral” rating reissued by stock analysts at Credit Suisse Group in a note issued to investors on Monday. They currently have a $187.00 target price on the business services provider’s stock, up from their prior target price of $161.00. Credit Suisse Group’s price target would suggest a potential upside of 17.40% from the stock’s previous close.

Several other brokerages have also recently weighed in on MCO. Argus boosted their price objective on Moody's to $165.00 and gave the stock a “buy” rating in a report on Thursday, November 9th. Stifel Nicolaus initiated coverage on Moody's in a report on Tuesday, December 19th. They set a “hold” rating and a $167.00 price objective for the company. Cantor Fitzgerald reissued a “hold” rating and set a $148.00 price objective on shares of Moody's in a report on Sunday, November 19th. BMO Capital Markets boosted their price objective on Moody's from $143.00 to $146.00 and gave the stock a “market perform” rating in a report on Monday, November 6th. Finally, Wells Fargo & Co set a $160.00 price objective on Moody's and gave the stock a “market perform” rating in a report on Monday. Eight analysts have rated the stock with a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus target price of $161.42.

Shares of Moody's (NYSE MCO) traded up $4.64 during trading hours on Monday, reaching $159.28. The company’s stock had a trading volume of 1,214,585 shares, compared to its average volume of 840,800. The company has a market cap of $30,420.00, a PE ratio of 30.87, a P/E/G ratio of 1.81 and a beta of 1.36. Moody's has a 12-month low of $107.26 and a 12-month high of $167.23. The company has a debt-to-equity ratio of -48.22, a current ratio of 1.25 and a quick ratio of 1.15.

Moody's (NYSE:MCO) last announced its quarterly earnings data on Friday, February 9th. The business services provider reported $1.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.45 by $0.06. The firm had revenue of $1.17 billion during the quarter, compared to analysts’ expectations of $1.07 billion. Moody's had a negative return on equity of 319.45% and a net margin of 23.80%. The company’s quarterly revenue was up 23.7% compared to the same quarter last year. During the same period in the previous year, the business posted $1.23 EPS. sell-side analysts expect that Moody's will post 7.75 EPS for the current fiscal year.

In other news, Director Ewald Kist sold 4,000 shares of the business’s stock in a transaction dated Thursday, November 16th. The stock was sold at an average price of $142.00, for a total transaction of $568,000.00. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Darrell Duffie sold 500 shares of the business’s stock in a transaction dated Friday, December 29th. The stock was sold at an average price of $147.93, for a total value of $73,965.00. The disclosure for this sale can be found here. Insiders have sold a total of 5,005 shares of company stock valued at $716,738 over the last 90 days. Corporate insiders own 1.17% of the company’s stock.

Several institutional investors have recently bought and sold shares of the company. BlackRock Inc. grew its position in shares of Moody's by 2.2% in the 4th quarter. BlackRock Inc. now owns 10,557,911 shares of the business services provider’s stock valued at $1,558,454,000 after purchasing an additional 228,277 shares during the period. Principal Financial Group Inc. grew its position in shares of Moody's by 0.7% in the 3rd quarter. Principal Financial Group Inc. now owns 5,128,216 shares of the business services provider’s stock valued at $713,898,000 after purchasing an additional 33,723 shares during the period. Capital International Investors grew its position in shares of Moody's by 1.0% in the 3rd quarter. Capital International Investors now owns 3,287,478 shares of the business services provider’s stock valued at $457,650,000 after purchasing an additional 31,978 shares during the period. Investec Asset Management LTD grew its position in shares of Moody's by 2.8% in the 3rd quarter. Investec Asset Management LTD now owns 1,994,294 shares of the business services provider’s stock valued at $277,626,000 after purchasing an additional 55,053 shares during the period. Finally, APG Asset Management N.V. grew its position in shares of Moody's by 1.9% in the 3rd quarter. APG Asset Management N.V. now owns 1,863,438 shares of the business services provider’s stock valued at $259,409,000 after purchasing an additional 34,200 shares during the period. Institutional investors own 87.31% of the company’s stock.

WARNING: “Moody's (MCO) Rating Reiterated by Credit Suisse Group” was first reported by American Banking News and is owned by of American Banking News. If you are accessing this article on another website, it was copied illegally and reposted in violation of United States and international copyright and trademark law. The original version of this article can be viewed at https://www.americanbankingnews.com/2018/02/12/moodys-mco-rating-reiterated-by-credit-suisse-group.html.

Moody's 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.

Analyst Recommendations for Moody's (NYSE:MCO)

Receive News & Ratings for Moody's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Moody's and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply