Moody’s Corp. (MCO) Shares Gap Up to $104.50
Shares of Moody’s Corp. (NYSE:MCO) gapped up prior to trading on Tuesday . The stock had previously closed at $104.24, but opened at $104.50. Moody’s Corp. shares last traded at $105.97, with a volume of 278,799 shares trading hands.
Several analysts have recently weighed in on the company. Zacks Investment Research upgraded Moody’s Corp. from a “sell” rating to a “hold” rating in a report on Friday, May 20th. Barclays PLC reduced their target price on Moody’s Corp. from $120.00 to $95.00 and set an “overweight” rating for the company in a report on Tuesday. Argus upped their target price on Moody’s Corp. from $110.00 to $124.00 and gave the company a “buy” rating in a report on Wednesday, August 17th. Cantor Fitzgerald reaffirmed a “hold” rating on shares of Moody’s Corp. in a report on Friday. Finally, Credit Suisse Group AG began coverage on Moody’s Corp. in a report on Monday, July 11th. They set a “neutral” rating and a $99.00 target price for the company. Eight equities research analysts have rated the stock with a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $104.46.
The firm has a 50-day moving average of $103.02 and a 200 day moving average of $96.62. The stock has a market cap of $20.31 billion and a P/E ratio of 23.59.
Moody’s Corp. (NYSE:MCO) last released its earnings results on Friday, July 22nd. The company reported $1.30 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.03. During the same period last year, the business posted $1.28 earnings per share. The firm earned $928.90 million during the quarter, compared to analyst estimates of $909.08 million. The firm’s quarterly revenue was up 1.2% on a year-over-year basis. On average, equities research analysts anticipate that Moody’s Corp. will post $4.56 earnings per share for the current year.
The company also recently announced a quarterly dividend, which will be paid on Monday, September 12th. Stockholders of record on Monday, August 22nd will be paid a $0.37 dividend. The ex-dividend date of this dividend is Thursday, August 18th. This represents a $1.48 annualized dividend and a dividend yield of 1.40%.
In related news, Director Darrell Duffie sold 500 shares of Moody’s Corp. stock in a transaction on Thursday, June 30th. The stock was sold at an average price of $91.94, for a total transaction of $45,970.00. Following the completion of the sale, the director now directly owns 22,090 shares of the company’s stock, valued at $2,030,954.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, SVP Blair Worrall sold 11,054 shares of Moody’s Corp. stock in a transaction on Friday, August 12th. The stock was sold at an average price of $103.39, for a total value of $1,142,873.06. Following the sale, the senior vice president now directly owns 13,062 shares of the company’s stock, valued at $1,350,480.18. The disclosure for this sale can be found here.
Other large investors recently made changes to their positions in the company. King Luther Capital Management Corp boosted its stake in shares of Moody’s Corp. by 22.7% in the fourth quarter. King Luther Capital Management Corp now owns 198,920 shares of the company’s stock worth $19,960,000 after buying an additional 36,830 shares during the period. I.G. Investment Management LTD. boosted its stake in shares of Moody’s Corp. by 2.1% in the fourth quarter. I.G. Investment Management LTD. now owns 237,117 shares of the company’s stock worth $23,792,000 after buying an additional 4,839 shares during the period. Finally, Victory Capital Management Inc. boosted its stake in shares of Moody’s Corp. by 30.9% in the fourth quarter. Victory Capital Management Inc. now owns 10,624 shares of the company’s stock worth $1,066,000 after buying an additional 2,509 shares during the period.
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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