Moody’s Co. (NYSE:MCO) – Investment analysts at Cantor Fitzgerald lowered their FY2018 earnings estimates for Moody’s in a research note issued on Tuesday, October 30th. Cantor Fitzgerald analyst J. Foresi now forecasts that the business services provider will post earnings per share of $7.58 for the year, down from their prior estimate of $7.75. Cantor Fitzgerald has a “Neutral” rating and a $145.00 price objective on the stock.
Moody’s (NYSE:MCO) last posted its earnings results on Friday, October 26th. The business services provider reported $1.69 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $1.78 by ($0.09). The business had revenue of $1.08 billion for the quarter, compared to analysts’ expectations of $1.13 billion. Moody’s had a net margin of 23.85% and a return on equity of 412.48%. Moody’s’s quarterly revenue was up 1.7% on a year-over-year basis. During the same period last year, the firm posted $1.52 earnings per share.
MCO has been the topic of several other reports. Nomura dropped their target price on Moody’s from $195.00 to $193.00 and set a “buy” rating on the stock in a report on Monday, July 9th. UBS Group lowered their price target on Moody’s from $192.00 to $189.00 and set a “neutral” rating on the stock in a report on Friday, September 21st. William Blair reaffirmed a “buy” rating on shares of Moody’s in a report on Sunday, August 12th. Morgan Stanley set a $171.00 price target on Moody’s and gave the company a “hold” rating in a report on Thursday, October 11th. Finally, Zacks Investment Research raised Moody’s from a “sell” rating to a “hold” rating in a report on Friday, July 20th. Nine investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. Moody’s has a consensus rating of “Hold” and a consensus price target of $178.45.
Moody’s stock opened at $145.48 on Thursday. The company has a debt-to-equity ratio of 8.17, a quick ratio of 1.54 and a current ratio of 1.38. Moody’s has a 12 month low of $139.11 and a 12 month high of $187.98. The firm has a market capitalization of $27.08 billion, a price-to-earnings ratio of 23.97, a P/E/G ratio of 1.63 and a beta of 1.08.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, December 12th. Shareholders of record on Wednesday, November 21st will be issued a $0.44 dividend. This represents a $1.76 dividend on an annualized basis and a yield of 1.21%. The ex-dividend date of this dividend is Tuesday, November 20th. Moody’s’s dividend payout ratio is 29.00%.
In other news, CFO Linda Huber bought 915 shares of the stock in a transaction on Monday, August 6th. The shares were bought at an average price of $172.31 per share, with a total value of $157,663.65. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. 1.00% of the stock is currently owned by corporate insiders.
A number of hedge funds have recently bought and sold shares of MCO. LPL Financial LLC increased its position in Moody’s by 107.1% in the first quarter. LPL Financial LLC now owns 6,153 shares of the business services provider’s stock worth $992,000 after buying an additional 3,182 shares in the last quarter. CIBC World Markets Inc. purchased a new stake in Moody’s in the first quarter worth about $331,000. Summit Trail Advisors LLC increased its position in Moody’s by 57.2% in the first quarter. Summit Trail Advisors LLC now owns 3,366 shares of the business services provider’s stock worth $216,000 after buying an additional 1,225 shares in the last quarter. Dorsey Wright & Associates purchased a new stake in Moody’s in the second quarter worth about $640,000. Finally, DnB Asset Management AS increased its position in Moody’s by 12.9% in the second quarter. DnB Asset Management AS now owns 23,588 shares of the business services provider’s stock worth $4,023,000 after buying an additional 2,700 shares in the last quarter. 88.01% of the stock is currently owned by institutional investors.
Moody’s Company Profile
Moody's Corporation provides credit ratings; and credit, capital markets, and economic related research, data, and analytical tools worldwide. It operates through two segments, Moody's Investors Service and Moody's Analytics. The Moody's Investors Service segment publishes credit ratings on various debt obligations and entities that issue such obligations comprising various corporate and governmental obligations, structured finance securities, and commercial paper programs.
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