Moody’s Corp. (MCO) Hits New 1-Year High at $108.98
Moody’s Corp. (NYSE:MCO) hit a new 52-week high during mid-day trading on Thursday . The stock traded as high as $108.98 and last traded at $108.28, with a volume of 290,892 shares traded. The stock had previously closed at $108.69.
MCO has been the topic of several research reports. Barclays PLC dropped their target price on shares of Moody’s Corp. from $120.00 to $95.00 and set an “overweight” rating on the stock in a report on Tuesday, August 23rd. Cantor Fitzgerald reiterated a “hold” rating on shares of Moody’s Corp. in a research note on Friday, August 19th. Zacks Investment Research upgraded shares of Moody’s Corp. from a “sell” rating to a “hold” rating in a research note on Wednesday, June 8th. Morgan Stanley reiterated an “overweight” rating and set a $114.00 price target on shares of Moody’s Corp. in a research note on Tuesday, July 19th. Finally, Credit Suisse Group AG initiated coverage on shares of Moody’s Corp. in a research note on Monday, July 11th. They set a “neutral” rating and a $99.00 price target on the stock. Eight research 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’s stock. The company currently has a consensus rating of “Hold” and an average target price of $104.46.
The stock’s 50 day moving average price is $104.89 and its 200 day moving average price is $97.67. The company has a market cap of $20.82 billion and a P/E ratio of 24.18.
Moody’s Corp. (NYSE:MCO) last issued its quarterly earnings results on Friday, July 22nd. The company reported $1.30 earnings per share (EPS) for the quarter, beating the Zacks’ consensus estimate of $1.27 by $0.03. The company had revenue of $928.90 million for the quarter, compared to analyst estimates of $909.08 million. During the same quarter in the previous year, the company posted $1.28 EPS. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. Analysts predict that Moody’s Corp. will post $4.56 earnings per share for the current year.
The business also recently declared a quarterly dividend, which will be paid on Monday, September 12th. Shareholders of record on Monday, August 22nd will be paid a dividend of $0.37 per share. The ex-dividend date of this dividend is Thursday, August 18th. This represents a $1.48 dividend on an annualized basis and a yield of 1.36%.
In other Moody’s Corp. news, SVP Lisa Westlake sold 730 shares of the company’s stock in a transaction that occurred on Tuesday, August 30th. The shares were sold at an average price of $107.50, for a total transaction of $78,475.00. Following the transaction, the senior vice president now owns 24,265 shares in the company, valued at approximately $2,608,487.50. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Darrell Duffie sold 500 shares of the company’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 transaction of $45,970.00. Following the transaction, the director now owns 22,090 shares in the company, valued at approximately $2,030,954.60. The disclosure for this sale can be found here.
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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