Moody’s Corp. (MCO) Reaches New 1-Year High at $106.86
Shares of Moody’s Corp. (NYSE:MCO) hit a new 52-week high during trading on Friday . The company traded as high as $106.86 and last traded at $106.01, with a volume of 181,868 shares changing hands. The stock had previously closed at $105.70.
A number of analysts have recently commented on the stock. Zacks Investment Research upgraded shares of Moody’s Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, June 15th. Credit Suisse Group AG assumed coverage on shares of Moody’s Corp. in a report on Monday, July 11th. They set a “neutral” rating and a $99.00 target price on the stock. Cantor Fitzgerald restated a “hold” rating and set a $96.00 target price on shares of Moody’s Corp. in a report on Friday, July 22nd. Argus restated a “buy” rating on shares of Moody’s Corp. in a report on Monday, May 16th. Finally, Morgan Stanley set a $112.00 target price on shares of Moody’s Corp. and gave the company a “buy” rating in a report on Friday, August 5th. Eight equities research 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. The company currently has a consensus rating of “Hold” and an average target price of $104.46.
The firm has a market capitalization of $20.29 billion and a price-to-earnings ratio of 23.57. The firm has a 50-day moving average price of $103.74 and a 200 day moving average price of $96.75.
Moody’s Corp. (NYSE:MCO) last posted its quarterly earnings results on Friday, July 22nd. The company reported $1.30 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.27 by $0.03. The firm had revenue of $928.90 million for the quarter, compared to the consensus estimate of $909.08 million. Moody’s Corp.’s quarterly revenue was up 1.2% compared to the same quarter last year. During the same period in the previous year, the company posted $1.28 EPS. On average, equities research analysts forecast that Moody’s Corp. will post $4.56 earnings per share for the current year.
The company also recently declared a quarterly dividend, which will be paid on Monday, September 12th. Stockholders of record on Monday, August 22nd will be given a dividend of $0.37 per share. This represents a $1.48 dividend on an annualized basis and a dividend yield of 1.40%. The ex-dividend date of this dividend is Thursday, August 18th.
In related news, SVP Blair Worrall sold 11,054 shares of the firm’s stock in a transaction dated Friday, August 12th. The stock was sold at an average price of $103.39, for a total transaction of $1,142,873.06. Following the sale, the senior vice president now owns 13,062 shares of the company’s stock, valued at $1,350,480.18. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Robert Fauber sold 17,796 shares of the firm’s stock in a transaction dated Monday, August 8th. The shares were sold at an average price of $104.78, for a total value of $1,864,664.88. Following the sale, the insider now directly owns 49,527 shares in the company, valued at approximately $5,189,439.06. The disclosure for this sale can be found here.
A hedge fund recently raised its stake in Moody’s Corp. stock. Victory Capital Management Inc. increased its position in shares of 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 institutional investor 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 at the end of the most recent reporting 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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