Several other analysts also recently issued reports on the company. Barclays PLC raised their price target on Moody’s Corp. from $120.00 to $125.00 and gave the stock an overweight rating in a report on Wednesday, September 21st. Argus lifted their target price on Moody’s Corp. from $110.00 to $124.00 and gave the company a buy rating in a research note on Wednesday, August 17th. Morgan Stanley set a $112.00 target price on Moody’s Corp. and gave the company a buy rating in a research note on Friday, August 5th. Credit Suisse Group AG began coverage on Moody’s Corp. in a research note on Monday, July 11th. They set a neutral rating and a $99.00 target price on the stock. Finally, Zacks Investment Research raised Moody’s Corp. from a sell rating to a hold rating in a research note on Tuesday, June 28th. Eight analysts have rated the stock with a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. The company has an average rating of Hold and an average price target of $108.23.
Shares of Moody’s Corp. (NYSE:MCO) opened at 109.28 on Thursday. Moody’s Corp. has a 52 week low of $77.76 and a 52 week high of $110.83. The stock has a market cap of $21.01 billion, a PE ratio of 24.40 and a beta of 1.35. The firm has a 50-day moving average price of $107.66 and a 200-day moving average price of $100.58.
Moody’s Corp. (NYSE:MCO) last issued its quarterly earnings data on Friday, July 22nd. The company reported $1.30 earnings per share for the quarter, beating analysts’ consensus estimates of $1.27 by $0.03. Moody’s Corp. had a negative return on equity of 273.01% and a net margin of 25.81%. The firm earned $928.90 million during the quarter, compared to analyst estimates of $909.08 million. During the same quarter last year, the firm earned $1.28 EPS. Moody’s Corp.’s quarterly revenue was up 1.2% on a year-over-year basis. On average, analysts forecast that Moody’s Corp. will post $4.61 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Monday, September 12th. Investors of record on Monday, August 22nd were given a dividend of $0.37 per share. The ex-dividend date was Thursday, August 18th. This represents a $1.48 dividend on an annualized basis and a yield of 1.35%. Moody’s Corp.’s dividend payout ratio (DPR) is presently 33.18%.
In other Moody’s Corp. news, insider Robert Fauber sold 17,796 shares of the company’s stock in a transaction on Monday, August 8th. The stock was sold at an average price of $104.78, for a total transaction of $1,864,664.88. Following the transaction, the insider now owns 49,527 shares of the company’s stock, valued at approximately $5,189,439.06. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, VP Linda Huber sold 182,595 shares of the company’s stock in a transaction on Tuesday, September 6th. The stock was sold at an average price of $110.13, for a total value of $20,109,187.35. Following the transaction, the vice president now directly owns 63,637 shares in the company, valued at approximately $7,008,342.81. The disclosure for this sale can be found here. Corporate insiders own 1.48% of the company’s stock.
A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Massachusetts Financial Services Co. MA increased its position in Moody’s Corp. by 153.8% in the second quarter. Massachusetts Financial Services Co. MA now owns 4,597,087 shares of the company’s stock valued at $430,793,000 after buying an additional 2,785,852 shares in the last quarter. Emerald Acquisition Ltd. bought a new position in Moody’s Corp. during the second quarter worth $148,773,000. Franklin Resources Inc. increased its position in Moody’s Corp. by 292.4% in the second quarter. Franklin Resources Inc. now owns 1,264,099 shares of the company’s stock worth $118,445,000 after buying an additional 941,953 shares during the period. Marshall Wace LLP increased its position in Moody’s Corp. by 83.0% in the second quarter. Marshall Wace LLP now owns 1,209,496 shares of the company’s stock worth $113,341,000 after buying an additional 548,714 shares during the period. Finally, Bank of Montreal Can bought a new position in Moody’s Corp. during the second quarter worth $50,649,000. 86.91% of the stock is currently owned by hedge funds and other institutional investors.
About Moody’s Corp.
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 outsourced research and analytical services to financial institution customers.
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