Moody’s Corp. (MCO) Shares Gap Up to $92.97
Moody’s Corp. (NYSE:MCO)’s share price gapped up before the market opened on Thursday . The stock had previously closed at $92.79, but opened at $92.97. Moody’s Corp. shares last traded at $93.82, with a volume of 431,833 shares.
Several equities analysts recently issued reports on MCO shares. Morgan Stanley reissued a “buy” rating on shares of Moody’s Corp. in a research note on Monday, April 11th. Zacks Investment Research upgraded Moody’s Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, June 8th. Argus restated a “buy” rating on shares of Moody’s Corp. in a report on Monday, May 16th. Finally, BMO Capital Markets initiated coverage on Moody’s Corp. in a report on Tuesday, April 12th. They set a “market perform” rating and a $101.00 price target on the stock. Seven 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 presently has a consensus rating of “Hold” and an average price target of $103.05.
The stock has a market cap of $18.79 billion and a PE ratio of 21.71. The stock has a 50-day moving average price of $96.78 and a 200-day moving average price of $93.72.
Moody’s Corp. (NYSE:MCO) last issued its earnings results on Friday, April 29th. The company reported $0.93 earnings per share for the quarter, missing the Zacks’ consensus estimate of $1.07 by $0.14. The company earned $816.10 million during the quarter, compared to analysts’ expectations of $862.31 million. During the same quarter in the prior year, the firm earned $1.11 EPS. The company’s revenue was down 4.7% compared to the same quarter last year. Analysts expect that Moody’s Corp. will post $4.58 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Friday, June 10th. Investors of record on Friday, May 20th were issued a $0.37 dividend. This represents a $1.48 dividend on an annualized basis and a yield of 1.53%. The ex-dividend date was Wednesday, May 18th.
In related news, Director Darrell Duffie sold 500 shares of Moody’s Corp. stock in a transaction on Thursday, June 30th. The stock was sold at an average price of $91.94, for a total value of $45,970.00. Following the transaction, the director now owns 22,090 shares in the company, valued at $2,030,954.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, SVP Blair Worrall sold 1,600 shares of Moody’s Corp. stock in a transaction on Thursday, May 19th. The shares were sold at an average price of $93.00, for a total value of $148,800.00. Following the completion of the transaction, the senior vice president now owns 10,832 shares in the company, valued at approximately $1,007,376. The disclosure for this sale can be found here.
A number of hedge funds and institutional investors have recently modified their holdings of MCO. Victory Capital Management Inc. boosted its position in shares of Moody’s Corp. by 30.9% in the fourth quarter. Victory Capital Management Inc. now owns 10,624 shares of the company’s stock worth $1,066,000 after buying an additional 2,509 shares during the last quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS boosted its position in shares of Moody’s Corp. by 0.4% in the fourth quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 11,238 shares of the company’s stock worth $1,128,000 after buying an additional 42 shares in the last quarter. Tredje AP fonden boosted its position in shares of Moody’s Corp. by 0.8% in the fourth quarter. Tredje AP fonden now owns 12,079 shares of the company’s stock worth $1,212,000 after buying an additional 93 shares in the last quarter. Commerzbank Aktiengesellschaft FI boosted its position in shares of Moody’s Corp. by 59.4% in the fourth quarter. Commerzbank Aktiengesellschaft FI now owns 12,336 shares of the company’s stock worth $1,238,000 after buying an additional 4,597 shares in the last quarter. Finally, GAM Holding AG boosted its position in shares of Moody’s Corp. by 3.1% in the fourth quarter. GAM Holding AG now owns 14,248 shares of the company’s stock worth $1,430,000 after buying an additional 428 shares in the last quarter.
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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