Moody’s Corp. (MCO) Shares Gap Up to $104.50
Moody’s Corp. (NYSE:MCO) gapped up before the market opened 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 changing hands.
Several brokerages have weighed in on MCO. Barclays PLC dropped their price target on shares of Moody’s Corp. from $120.00 to $95.00 and set an “overweight” rating for the company in a research report on Tuesday. Cantor Fitzgerald reissued a “hold” rating on shares of Moody’s Corp. in a research report on Friday, August 19th. Argus increased their price target on shares of Moody’s Corp. from $110.00 to $124.00 and gave the company a “buy” rating in a research report on Wednesday, August 17th. Morgan Stanley set a $112.00 price target on shares of Moody’s Corp. and gave the company a “buy” rating in a research report on Friday, August 5th. Finally, Credit Suisse Group AG began coverage on shares of Moody’s Corp. in a research report on Monday, July 11th. They set a “neutral” rating and a $99.00 price target for the company. Eight investment analysts have rated the stock with a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. Moody’s Corp. currently has an average rating of “Hold” and an average target price of $104.46.
The firm has a market cap of $20.35 billion and a P/E ratio of 23.63. The stock has a 50-day moving average price of $103.39 and a 200-day moving average price of $96.69.
Moody’s Corp. (NYSE:MCO) last posted its quarterly earnings data on Friday, July 22nd. The company reported $1.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.03. During the same quarter last year, the company earned $1.28 EPS. The company had revenue of $928.90 million for the quarter, compared to analyst estimates of $909.08 million. The business’s revenue was up 1.2% compared to the same quarter last year. On average, analysts expect that Moody’s Corp. will post $4.56 EPS for the current year.
The business also recently disclosed a quarterly dividend, which will be paid on Monday, September 12th. Stockholders of record on Monday, August 22nd will be issued a dividend of $0.37 per share. The ex-dividend date is Thursday, August 18th. This represents a $1.48 annualized dividend and a dividend yield of 1.40%.
In related news, SVP Blair Worrall sold 11,054 shares of the stock in a transaction that occurred on Friday, August 12th. The shares were sold at an average price of $103.39, for a total value of $1,142,873.06. Following the transaction, the senior vice president now owns 13,062 shares in the company, valued at approximately $1,350,480.18. The sale was disclosed in a filing with the SEC, which is available through this link. Also, VP Linda Huber sold 44,500 shares of the stock in a transaction that occurred on Friday, July 22nd. The stock was sold at an average price of $105.00, for a total transaction of $4,672,500.00. Following the completion of the transaction, the vice president now owns 101,059 shares in the company, valued at approximately $10,611,195. The disclosure for this sale can be found here.
An institutional investor recently raised its position in Moody’s Corp. stock. Victory Capital Management Inc. raised its stake in Moody’s Corp. (NYSE:MCO) by 30.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 10,624 shares of the company’s stock after buying an additional 2,509 shares during the period. Victory Capital Management Inc.’s holdings in Moody’s Corp. were worth $1,066,000 as of its most recent filing with the SEC.
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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