Moody’s Corp. (MCO) Sets New 1-Year High at $106.86
Shares of Moody’s Corp. (NYSE:MCO) reached a new 52-week high during mid-day 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 issued reports on the stock. Zacks Investment Research raised 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 issued a “neutral” rating and a $99.00 price objective for the company. Cantor Fitzgerald reissued a “hold” rating and issued a $96.00 price objective on shares of Moody’s Corp. in a report on Friday, July 22nd. Argus reaffirmed a “buy” rating on shares of Moody’s Corp. in a report on Monday, May 16th. Finally, Morgan Stanley set a $112.00 price target on shares of Moody’s Corp. and gave the stock a “buy” rating in a report on Friday, August 5th. Eight investment 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 company. The company currently has a consensus rating of “Hold” and an average target price of $104.46.
The firm has a market capitalization of $20.42 billion and a PE ratio of 23.72. The stock’s 50-day moving average is $104.07 and its 200 day moving average is $96.95.
Moody’s Corp. (NYSE:MCO) last posted its earnings results on Friday, July 22nd. The company reported $1.30 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.03. The business earned $928.90 million during the quarter, compared to analysts’ expectations of $909.08 million. During the same quarter in the previous year, the business earned $1.28 EPS. Moody’s Corp.’s revenue for the quarter was up 1.2% on a year-over-year basis. On average, equities analysts predict that Moody’s Corp. will post $4.56 earnings per share for the current year.
The firm 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 1.39%.
In other news, Director Darrell Duffie sold 500 shares of the firm’s stock in a transaction that occurred on Thursday, June 30th. The shares were sold at an average price of $91.94, for a total value of $45,970.00. Following the completion of the transaction, the director now directly owns 22,090 shares in the company, valued at $2,030,954.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Linda Huber sold 44,500 shares of the firm’s stock in a transaction that occurred on Friday, July 22nd. The shares were 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 of the company’s stock, valued at $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. boosted its position in shares of Moody’s Corp. (NYSE:MCO) by 30.9% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). 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 as of its most recent SEC filing.
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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