Moody’s Corporation (MCO) Announces Earnings Results
Moody’s Corporation (NYSE:MCO) posted its earnings results on Friday. The business services provider reported $1.52 EPS for the quarter, beating the consensus estimate of $1.37 by $0.15, Bloomberg Earnings reports. Moody’s Corporation had a negative return on equity of 167.31% and a net margin of 12.63%. The firm had revenue of $1.06 billion for the quarter, compared to analysts’ expectations of $992.81 million. During the same period last year, the firm earned $1.34 EPS. The firm’s revenue was up 15.9% compared to the same quarter last year. Moody’s Corporation updated its FY17 guidance to $5.85-6.00 EPS.
Moody’s Corporation (NYSE:MCO) traded up $2.80 on Friday, reaching $146.29. 1,953,539 shares of the company’s stock were exchanged, compared to its average volume of 685,200. The company has a debt-to-equity ratio of -10.45, a current ratio of 3.68 and a quick ratio of 3.69. The stock has a market capitalization of $27.41 billion, a PE ratio of 25.86, a PEG ratio of 2.64 and a beta of 1.35.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Tuesday, November 21st will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.04%. The ex-dividend date of this dividend is Monday, November 20th. Moody’s Corporation’s dividend payout ratio (DPR) is presently 61.29%.
A number of analysts recently issued reports on the company. Zacks Investment Research cut Moody’s Corporation from a “buy” rating to a “hold” rating in a research report on Wednesday, August 16th. Piper Jaffray Companies reiterated a “hold” rating and issued a $149.00 price objective (up from $140.00) on shares of Moody’s Corporation in a research note on Wednesday, October 4th. UBS AG lifted their price objective on Moody’s Corporation from $138.00 to $142.00 and gave the stock a “neutral” rating in a research note on Friday, August 18th. Barclays PLC restated an “equal weight” rating and set a $135.00 price target (up from $128.00) on shares of Moody’s Corporation in a research note on Monday, July 24th. Finally, BMO Capital Markets upped their price objective on Moody’s Corporation from $124.00 to $127.00 and gave the stock a “market perform” rating in a report on Friday, July 14th. Seven equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has issued a strong buy rating to the company’s stock. Moody’s Corporation has an average rating of “Hold” and an average target price of $141.50.
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In other news, insider Raymond W. Mcdaniel sold 45,216 shares of Moody’s Corporation stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $134.16, for a total transaction of $6,066,178.56. Following the transaction, the insider now directly owns 292,310 shares in the company, valued at approximately $39,216,309.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Darrell Duffie sold 500 shares of Moody’s Corporation stock in a transaction on Friday, September 29th. The shares were sold at an average price of $138.41, for a total value of $69,205.00. Following the transaction, the director now owns 21,804 shares in the company, valued at $3,017,891.64. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 90,932 shares of company stock valued at $11,969,604. 1.17% of the stock is owned by insiders.
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 research and analytical services to financial institution customers.
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