Moody’s Corp. (MCO) Releases FY16 Earnings Guidance
Moody’s Corp. (NYSE:MCO) issued an update on its FY16 earnings guidance on Wednesday morning. The company provided earnings per share guidance of $4.55-4.65 for the period, compared to the Thomson Reuters consensus earnings per share estimate of $4.58.
Moody’s Corp. (NYSE:MCO) opened at 107.75 on Friday. Moody’s Corp. has a one year low of $77.76 and a one year high of $110.83. The firm has a market cap of $20.72 billion, a price-to-earnings ratio of 24.06 and a beta of 1.26. The firm has a 50-day moving average of $107.39 and a 200-day moving average of $100.30.
Moody’s Corp. (NYSE:MCO) last released its quarterly earnings data on Friday, July 22nd. The company reported $1.30 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.03. The firm had revenue of $928.90 million for the quarter, compared to analyst estimates of $909.08 million. Moody’s Corp. had a net margin of 25.81% and a negative return on equity of 273.01%. The company’s revenue for the quarter was up 1.2% compared to the same quarter last year. During the same quarter in the prior year, the business earned $1.28 EPS. Analysts anticipate that Moody’s Corp. will post $4.58 EPS for the current year.
The business also recently disclosed a quarterly dividend, which was paid on Monday, September 12th. Shareholders of record on Monday, August 22nd were paid a $0.37 dividend. The ex-dividend date of this dividend was Thursday, August 18th. This represents a $1.48 annualized dividend and a yield of 1.37%. Moody’s Corp.’s dividend payout ratio is presently 33.18%.
Several research analysts have weighed in on the stock. Zacks Investment Research upgraded shares of Moody’s Corp. from a sell rating to a hold rating in a research note on Wednesday, June 15th. Cantor Fitzgerald set a $105.00 price objective on shares of Moody’s Corp. and gave the company a hold rating in a research note on Thursday. Credit Suisse Group AG assumed coverage on shares of Moody’s Corp. in a research note on Monday, July 11th. They issued a neutral rating and a $99.00 price objective on the stock. Morgan Stanley set a $112.00 price objective on shares of Moody’s Corp. and gave the company a buy rating in a research note on Friday, August 5th. Finally, Barclays PLC reiterated an overweight rating and issued a $95.00 price objective on shares of Moody’s Corp. in a research note on Tuesday, June 28th. Eight equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The company currently has a consensus rating of Hold and a consensus price target of $107.23.
In other Moody’s Corp. news, VP Linda Huber sold 182,595 shares of the stock in a transaction on Tuesday, September 6th. The shares were sold at an average price of $110.13, for a total value of $20,109,187.35. Following the completion of the sale, the vice president now directly owns 63,637 shares of the company’s stock, valued at approximately $7,008,342.81. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, SVP Blair Worrall sold 11,054 shares of the stock in a transaction on Friday, August 12th. The shares were sold at an average price of $103.39, for a total transaction of $1,142,873.06. Following the completion of 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. Corporate insiders own 1.48% of the company’s stock.
A number of hedge funds have recently modified their holdings of MCO. Pinkerton Retirement Specialists LLC bought a new stake in shares of Moody’s Corp. during the second quarter worth $196,000. Bank of Nova Scotia increased its stake in shares of Moody’s Corp. by 5.9% in the second quarter. Bank of Nova Scotia now owns 3,410 shares of the company’s stock worth $320,000 after buying an additional 190 shares during the period. Pacer Advisors Inc. increased its stake in shares of Moody’s Corp. by 9.9% in the second quarter. Pacer Advisors Inc. now owns 3,419 shares of the company’s stock worth $320,000 after buying an additional 309 shares during the period. Wetherby Asset Management Inc. increased its stake in shares of Moody’s Corp. by 14.6% in the second quarter. Wetherby Asset Management Inc. now owns 3,957 shares of the company’s stock worth $371,000 after buying an additional 503 shares during the period. Finally, Profund Advisors LLC increased its stake in shares of Moody’s Corp. by 8.6% in the second quarter. Profund Advisors LLC now owns 4,256 shares of the company’s stock worth $399,000 after buying an additional 338 shares during the period. 86.91% of the stock is owned by hedge funds and other institutional investors.
About Moody’s Corp.
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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