Moody’s Corporation’s (MCO) “Equal Weight” Rating Reaffirmed at Morgan Stanley
Morgan Stanley reaffirmed their equal weight rating on shares of Moody’s Corporation (NYSE:MCO) in a report published on Friday morning. Morgan Stanley currently has a $135.00 price target on the business services provider’s stock, up from their prior price target of $134.00.
Several other equities research analysts have also recently weighed in on MCO. Piper Jaffray Companies reiterated a hold rating and set a $149.00 price objective (up from $140.00) on shares of Moody’s Corporation in a research report on Wednesday. Zacks Investment Research upgraded shares of Moody’s Corporation from a hold rating to a buy rating and set a $148.00 price objective for the company in a research report on Thursday, August 17th. UBS AG increased their price objective on shares of Moody’s Corporation from $138.00 to $142.00 and gave the stock a neutral rating in a research report on Friday, August 18th. Barclays PLC reiterated an equal weight rating and set a $135.00 price objective (up from $128.00) on shares of Moody’s Corporation in a research report on Monday, July 24th. Finally, BMO Capital Markets increased their price objective on shares of Moody’s Corporation from $124.00 to $127.00 and gave the stock a market perform rating in a research report on Friday, July 14th. Seven investment analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the stock. The company presently has an average rating of Hold and a consensus target price of $140.63.
Shares of Moody’s Corporation (NYSE:MCO) traded up 0.27% during trading on Friday, hitting $142.49. 819,969 shares of the stock were exchanged. The firm’s 50 day moving average price is $136.00 and its 200-day moving average price is $124.04. The stock has a market cap of $27.22 billion, a P/E ratio of 57.25 and a beta of 1.28. Moody’s Corporation has a 52 week low of $93.51 and a 52 week high of $143.98.
Moody’s Corporation (NYSE:MCO) last posted its quarterly earnings data on Friday, July 21st. The business services provider reported $1.51 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.18. Moody’s Corporation had a net margin of 12.63% and a negative return on equity of 167.31%. The company had revenue of $1 billion during the quarter, compared to analysts’ expectations of $968.78 million. During the same period in the prior year, the company posted $1.30 earnings per share. Moody’s Corporation’s revenue for the quarter was up 7.7% compared to the same quarter last year. On average, analysts predict that Moody’s Corporation will post $5.68 EPS for the current year.
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The business also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Investors of record on Tuesday, August 22nd were paid a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.07%. The ex-dividend date of this dividend was Friday, August 18th. Moody’s Corporation’s dividend payout ratio is presently 61.29%.
In related news, Director Darrell Duffie sold 500 shares of the stock in a transaction on Friday, September 29th. The shares were sold at an average price of $138.41, for a total transaction of $69,205.00. Following the transaction, the director now directly owns 21,804 shares of the company’s stock, valued at $3,017,891.64. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Raymond W. Mcdaniel sold 45,216 shares of the stock in a transaction on Monday, August 7th. The stock was sold at an average price of $129.03, for a total transaction of $5,834,220.48. Following the transaction, the insider now directly owns 292,310 shares in the company, valued at $37,716,759.30. The disclosure for this sale can be found here. Over the last three months, insiders have sold 90,932 shares of company stock worth $11,969,604. 1.17% of the stock is owned by insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Pensionfund Sabic bought a new position in Moody’s Corporation during the third quarter worth $2,005,000. Pensionfund DSM Netherlands bought a new position in Moody’s Corporation during the third quarter worth $3,619,000. Curbstone Financial Management Corp boosted its stake in Moody’s Corporation by 90.9% during the third quarter. Curbstone Financial Management Corp now owns 4,200 shares of the business services provider’s stock worth $585,000 after acquiring an additional 2,000 shares in the last quarter. Lord Abbett & CO. LLC boosted its stake in Moody’s Corporation by 20.3% during the second quarter. Lord Abbett & CO. LLC now owns 86,852 shares of the business services provider’s stock worth $10,568,000 after acquiring an additional 14,678 shares in the last quarter. Finally, Toronto Dominion Bank boosted its stake in Moody’s Corporation by 25.8% during the second quarter. Toronto Dominion Bank now owns 56,446 shares of the business services provider’s stock worth $6,867,000 after acquiring an additional 11,585 shares in the last quarter. 88.74% of the stock is currently owned by institutional investors and hedge funds.
Moody’s Corporation Company Profile
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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