Moody’s (NYSE:MCO) Price Target Raised to $173.00

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Moody’s (NYSE:MCO) had its price objective lifted by Morgan Stanley from $170.00 to $173.00 in a research report released on Tuesday, BenzingaRatingsTable reports. The brokerage currently has an underweight rating on the business services provider’s stock.

A number of other brokerages have also commented on MCO. Barclays reaffirmed a buy rating on shares of Moody’s in a research report on Sunday, August 4th. Argus upped their price objective on shares of Moody’s to $240.00 and gave the company a buy rating in a research report on Monday, August 5th. UBS Group upped their price objective on shares of Moody’s from $200.00 to $215.00 and gave the company a neutral rating in a research report on Thursday, August 1st. Stifel Nicolaus upped their price objective on shares of Moody’s from $214.00 to $228.00 and gave the company a hold rating in a research report on Thursday, August 1st. Finally, JPMorgan Chase & Co. upped their price objective on shares of Moody’s from $220.00 to $240.00 and gave the company an overweight rating in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. The company presently has an average rating of Hold and an average price target of $201.09.

Shares of MCO opened at $212.98 on Tuesday. The company has a 50-day simple moving average of $212.31 and a 200-day simple moving average of $194.14. The firm has a market capitalization of $40.01 billion, a P/E ratio of 28.82 and a beta of 1.24. The company has a debt-to-equity ratio of 10.04, a quick ratio of 1.71 and a current ratio of 1.71. Moody’s has a 52 week low of $129.26 and a 52 week high of $222.85.

Moody’s (NYSE:MCO) last announced its quarterly earnings data on Wednesday, July 31st. The business services provider reported $2.07 EPS for the quarter, beating the Zacks’ consensus estimate of $1.98 by $0.09. The business had revenue of $1.21 billion during the quarter, compared to analyst estimates of $1.20 billion. Moody’s had a net margin of 27.66% and a return on equity of 266.42%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.04 earnings per share. As a group, equities analysts forecast that Moody’s will post 8.03 earnings per share for the current year.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, September 10th. Investors of record on Tuesday, August 20th were paid a $0.50 dividend. The ex-dividend date of this dividend was Monday, August 19th. This represents a $2.00 dividend on an annualized basis and a yield of 0.94%. Moody’s’s payout ratio is currently 27.06%.

In other Moody’s news, insider Raymond W. Mcdaniel sold 7,500 shares of the company’s stock in a transaction dated Thursday, August 1st. The shares were sold at an average price of $212.89, for a total transaction of $1,596,675.00. Following the sale, the insider now directly owns 205,294 shares of the company’s stock, valued at $43,705,039.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, insider Mark Almeida sold 27,236 shares of the company’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $207.06, for a total transaction of $5,639,486.16. The disclosure for this sale can be found here. In the last three months, insiders sold 45,957 shares of company stock worth $9,516,105. 0.90% of the stock is currently owned by insiders.

Institutional investors have recently modified their holdings of the business. Krane Funds Advisors LLC bought a new stake in Moody’s during the second quarter worth about $25,000. Capital Investment Advisory Services LLC grew its stake in Moody’s by 203.6% during the second quarter. Capital Investment Advisory Services LLC now owns 167 shares of the business services provider’s stock worth $34,000 after buying an additional 112 shares during the last quarter. Meeder Asset Management Inc. bought a new stake in Moody’s during the second quarter worth about $37,000. Harvest Fund Management Co. Ltd bought a new stake in Moody’s during the second quarter worth about $39,000. Finally, Ibex Wealth Advisors bought a new stake in Moody’s during the second quarter worth about $41,000. 90.18% of the stock is currently owned by hedge funds and other institutional investors.

Moody’s Company Profile

Moody's Corporation provides credit ratings; and credit, capital markets, and economic 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, such as various corporate and governmental obligations, structured finance securities, and commercial paper programs.

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Analyst Recommendations for Moody`s (NYSE:MCO)

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