Moody’s Corp. (MCO) Shares Gap Up to $101.72
Moody’s Corp. (NYSE:MCO) gapped up prior to trading on Thursday . The stock had previously closed at $101.32, but opened at $101.72. Moody’s Corp. shares last traded at $102.66, with a volume of 497,764 shares traded.
Several research firms recently commented on MCO. Zacks Investment Research upgraded shares of Moody’s Corp. from a “sell” rating to a “hold” rating in a research report on Tuesday, June 28th. Barclays PLC reiterated an “overweight” rating and issued a $95.00 price objective on shares of Moody’s Corp. in a research report on Tuesday, June 28th. BMO Capital Markets began coverage on shares of Moody’s Corp. in a research report on Tuesday, April 12th. They issued a “market perform” rating and a $101.00 price objective on the stock. Argus reiterated a “buy” rating on shares of Moody’s Corp. in a research report on Monday, May 16th. Finally, Credit Suisse Group AG began coverage on shares of Moody’s Corp. in a research report on Monday. They issued a “neutral” rating and a $99.00 price objective on the stock. Eight investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Moody’s Corp. presently has an average rating of “Hold” and an average price target of $102.68.
The firm has a 50-day moving average of $97.35 and a 200 day moving average of $93.79. The company has a market cap of $20.01 billion and a price-to-earnings ratio of 23.12.
Moody’s Corp. (NYSE:MCO) last issued its quarterly earnings results on Friday, April 29th. The company reported $0.93 EPS for the quarter, missing analysts’ consensus estimates of $1.07 by $0.14. The firm earned $816.10 million during the quarter, compared to the consensus estimate of $862.31 million. The business’s revenue for the quarter was down 4.7% on a year-over-year basis. During the same quarter last year, the business earned $1.11 earnings per share. Equities research analysts anticipate that Moody’s Corp. will post $4.58 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 12th. Investors of record on Monday, August 22nd will be issued a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a yield of 1.44%. The ex-dividend date is Thursday, August 18th.
In related news, SVP Lisa Westlake sold 8,000 shares of Moody’s Corp. stock in a transaction dated Tuesday, May 17th. The stock was sold at an average price of $95.00, for a total transaction of $760,000.00. Following the transaction, the senior vice president now directly owns 36,645 shares of the company’s stock, valued at $3,481,275. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Darrell Duffie sold 500 shares of Moody’s Corp. stock in a transaction dated Thursday, June 30th. The stock was sold at an average price of $91.94, for a total value of $45,970.00. Following the transaction, the director now directly owns 22,090 shares in the company, valued at $2,030,954.60. The disclosure for this sale can be found here.
Other hedge funds and institutional investors have recently added to or reduced their stakes in the company. KBC Group raised its position in Moody’s Corp. by 144.8% in the third quarter. KBC Group now owns 31,250 shares of the company’s stock worth $3,068,000 after buying an additional 18,485 shares during the last quarter. Janus Capital Management raised its position in Moody’s Corp. by 1.5% in the third quarter. Janus Capital Management now owns 1,954,979 shares of the company’s stock worth $191,979,000 after buying an additional 28,177 shares during the last quarter. Nationwide Fund Advisors raised its position in Moody’s Corp. by 56.0% in the fourth quarter. Nationwide Fund Advisors now owns 83,915 shares of the company’s stock worth $8,420,000 after buying an additional 30,116 shares during the last quarter. TD Asset Management Inc. raised its position in Moody’s Corp. by 23.7% in the fourth quarter. TD Asset Management Inc. now owns 95,956 shares of the company’s stock worth $9,628,000 after buying an additional 18,400 shares during the last quarter. Finally, Commerzbank Aktiengesellschaft FI raised its position in Moody’s Corp. by 59.4% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 12,336 shares of the company’s stock worth $1,238,000 after buying an additional 4,597 shares during the last quarter.
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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