Moody’s Corporation (MCO) Sets New 12-Month High Following Earnings Beat

Shares of Moody’s Corporation (NYSE:MCO) hit a new 52-week high during trading on Friday after the company announced better than expected quarterly earnings. The company traded as high as $112.75 and last traded at $112.81, with a volume of 1,066,975 shares. The stock had previously closed at $110.22.

The company reported $1.23 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $1.13 by $0.10. Moody’s Corporation had a negative return on equity of 260.34% and a net margin of 25.88%. The firm earned $942.10 million during the quarter, compared to the consensus estimate of $909.31 million. During the same period in the previous year, the firm posted $1.09 EPS. The company’s quarterly revenue was up 8.8% compared to the same quarter last year.

The business also recently disclosed a quarterly dividend, which will be paid on Friday, March 10th. Investors of record on Monday, February 20th will be given a dividend of $0.38 per share. This is an increase from Moody’s Corporation’s previous quarterly dividend of $0.37. This represents a $1.52 annualized dividend and a dividend yield of 1.38%. The ex-dividend date of this dividend is Wednesday, February 15th. Moody’s Corporation’s payout ratio is currently 31.97%.

Several brokerages recently issued reports on MCO. BMO Capital Markets restated a “market perform” rating and set a $108.00 price objective on shares of Moody’s Corporation in a research report on Tuesday, December 13th. Zacks Investment Research downgraded Moody’s Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, October 26th. Barclays PLC restated a “hold” rating and set a $105.00 price objective on shares of Moody’s Corporation in a research report on Monday, January 16th. Cantor Fitzgerald set a $105.00 price objective on Moody’s Corporation and gave the stock a “hold” rating in a research report on Friday, October 21st. Finally, Credit Suisse Group began coverage on Moody’s Corporation in a research report on Sunday, November 20th. They set a “neutral” rating and a $94.00 price objective for the company. Five investment analysts have rated the stock with a hold rating and two have assigned a buy rating to the company. Moody’s Corporation presently has an average rating of “Hold” and an average target price of $109.86.

In other Moody’s Corporation news, Director Darrell Duffie sold 500 shares of the business’s stock in a transaction on Friday, December 30th. The stock was sold at an average price of $94.64, for a total value of $47,320.00. Following the completion of the transaction, the director now directly owns 21,171 shares in the company, valued at approximately $2,003,623.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP Lisa Westlake sold 730 shares of the business’s stock in a transaction on Wednesday, November 30th. The shares were sold at an average price of $101.65, for a total value of $74,204.50. Following the completion of the transaction, the senior vice president now owns 21,710 shares of the company’s stock, valued at $2,206,821.50. The disclosure for this sale can be found here. Insiders sold a total of 5,275 shares of company stock valued at $536,558 over the last quarter. 1.48% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Perennial Advisors LLC acquired a new position in shares of Moody’s Corporation during the fourth quarter valued at $118,000. NN Investment Partners Holdings N.V. increased its position in shares of Moody’s Corporation by 18.7% in the fourth quarter. NN Investment Partners Holdings N.V. now owns 1,270 shares of the company’s stock valued at $120,000 after buying an additional 200 shares during the period. Cascade Investment Advisors Inc. acquired a new position in shares of Moody’s Corporation during the fourth quarter valued at $123,000. Smithfield Trust Co. increased its position in shares of Moody’s Corporation by 57.3% in the third quarter. Smithfield Trust Co. now owns 1,337 shares of the company’s stock valued at $145,000 after buying an additional 487 shares during the period. Finally, Salem Investment Counselors Inc. acquired a new position in shares of Moody’s Corporation during the third quarter valued at $162,000. Institutional investors own 87.31% of the company’s stock.

The firm has a market capitalization of $21.56 billion, a P/E ratio of 24.319 and a beta of 1.30. The firm’s 50-day moving average is $102.01 and its 200 day moving average is $103.18.

This report was first posted by Ticker Report and is the sole property of of Ticker Report. If you are accessing this report on another site, it was copied illegally and republished in violation of U.S. and international copyright laws. The legal version of this report can be accessed at https://www.tickerreport.com/banking-finance/2401776/moodys-corporation-mco-sets-new-12-month-high-following-earnings-beat.html.

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 outsourced research and analytical services to financial institution customers.

5 Day Chart for NYSE:MCO

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

Latest News

Household Debt Closing in on Levels of 2008
Household Debt Closing in on Levels of 2008
Pharmaceuticals Shunning Push by Trump for FDA Shift
Pharmaceuticals Shunning Push by Trump for FDA Shift
Top Official in Italy Says Facebook Must Act on Hate Speech
Top Official in Italy Says Facebook Must Act on Hate Speech
Reckitt Benckiser Paying $16.6 Billion for Mead Johnson
Reckitt Benckiser Paying $16.6 Billion for Mead Johnson
Yum China Beats Expectations in First Earnings Report
Yum China Beats Expectations in First Earnings Report
U.S. Company Leading Race to Buy Airbag Maker Takata
U.S. Company Leading Race to Buy Airbag Maker Takata


Leave a Reply

© 2006-2017 Ticker Report. Google+.