Cantor Fitzgerald Analysts Raise Earnings Estimates for Moody's Co. (MCO)

Moody's Co. (NYSE:MCO) – Investment analysts at Cantor Fitzgerald boosted their FY2018 earnings per share (EPS) estimates for shares of Moody's in a research note issued on Monday. Cantor Fitzgerald analyst J. Foresi now anticipates that the business services provider will post earnings of $7.76 per share for the year, up from their previous estimate of $6.42. Cantor Fitzgerald currently has a “Neutral” rating and a $155.00 target price on the stock.

Moody's (NYSE:MCO) last announced its quarterly earnings results on Friday, February 9th. The business services provider reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.45 by $0.06. The business had revenue of $1.17 billion for the quarter, compared to the consensus estimate of $1.07 billion. Moody's had a net margin of 23.80% and a negative return on equity of 319.45%. Moody's’s revenue for the quarter was up 23.7% on a year-over-year basis. During the same period last year, the company posted $1.23 EPS.

A number of other analysts also recently weighed in on the stock. Barclays increased their price target on shares of Moody's from $175.00 to $180.00 and gave the company an “overweight” rating in a research report on Monday. Credit Suisse Group reiterated a “neutral” rating and issued a $187.00 price target (up from $161.00) on shares of Moody's in a research report on Monday. Wells Fargo & Co set a $160.00 price target on shares of Moody's and gave the company a “market perform” rating in a research report on Monday. BMO Capital Markets increased their price target on shares of Moody's from $159.00 to $161.00 and gave the company a “market perform” rating in a research report on Friday, February 9th. Finally, Nomura assumed coverage on shares of Moody's in a research report on Thursday, January 11th. They issued a “buy” rating and a $180.00 price target on the stock. Eight research analysts have rated the stock with a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $161.42.

Shares of Moody's (MCO) traded up $0.88 during trading hours on Wednesday, hitting $162.48. 211,889 shares of the company were exchanged, compared to its average volume of 849,733. The firm has a market cap of $30,422.48, a P/E ratio of 31.38, a price-to-earnings-growth ratio of 2.24 and a beta of 1.36. The company has a quick ratio of 1.15, a current ratio of 1.25 and a debt-to-equity ratio of -48.22. Moody's has a 1-year low of $109.00 and a 1-year high of $167.23.

Hedge funds and other institutional investors have recently bought and sold shares of the company. Dimensional Fund Advisors LP raised its holdings in shares of Moody's by 0.9% in the second quarter. Dimensional Fund Advisors LP now owns 360,335 shares of the business services provider’s stock valued at $43,846,000 after purchasing an additional 3,364 shares during the last quarter. Bredin Investment LLC bought a new position in shares of Moody's in the fourth quarter valued at $601,000. CAPROCK Group Inc. bought a new position in shares of Moody's in the third quarter valued at $336,000. Wells Fargo & Company MN grew its stake in shares of Moody's by 15.1% in the third quarter. Wells Fargo & Company MN now owns 383,359 shares of the business services provider’s stock valued at $53,367,000 after buying an additional 50,364 shares in the last quarter. Finally, Korea Investment CORP grew its stake in shares of Moody's by 10.3% in the third quarter. Korea Investment CORP now owns 102,998 shares of the business services provider’s stock valued at $14,338,000 after buying an additional 9,600 shares in the last quarter. Institutional investors own 87.31% of the company’s stock.

In other news, Director Ewald Kist sold 4,000 shares of Moody's stock in a transaction that occurred on Thursday, November 16th. The shares were sold at an average price of $142.00, for a total value of $568,000.00. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Darrell Duffie sold 500 shares of Moody's stock in a transaction that occurred on Friday, December 29th. The shares were sold at an average price of $147.93, for a total transaction of $73,965.00. Following the completion of the sale, the director now owns 21,336 shares in the company, valued at $3,156,234.48. The disclosure for this sale can be found here. Insiders have sold a total of 5,005 shares of company stock worth $716,738 over the last 90 days. Corporate insiders own 1.17% of the company’s stock.

The business also recently announced a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Tuesday, February 20th will be issued a dividend of $0.44 per share. This is an increase from Moody's’s previous quarterly dividend of $0.38. This represents a $1.76 annualized dividend and a yield of 1.08%. The ex-dividend date is Friday, February 16th. Moody's’s dividend payout ratio (DPR) is 29.51%.

ILLEGAL ACTIVITY WARNING: “Cantor Fitzgerald Analysts Raise Earnings Estimates for Moody's Co. (MCO)” was first posted by American Banking News and is owned by of American Banking News. If you are reading this story on another publication, it was copied illegally and reposted in violation of international trademark & copyright law. The legal version of this story can be accessed at https://www.americanbankingnews.com/2018/02/14/cantor-fitzgerald-analysts-raise-earnings-estimates-for-moodys-co-mco.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.

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