Moody’s Corp. (MCO) Hits New 1-Year High at $108.98
Shares of Moody’s Corp. (NYSE:MCO) reached a new 52-week high during trading on Thursday . The company 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.
A number of analysts have commented on MCO shares. Morgan Stanley reaffirmed an “overweight” rating and set a $114.00 target price on shares of Moody’s Corp. in a report on Tuesday, July 19th. Barclays PLC lowered their target price on shares of Moody’s Corp. from $120.00 to $95.00 and set an “overweight” rating for the company in a report on Tuesday, August 23rd. Argus lifted their target price on shares of Moody’s Corp. from $110.00 to $124.00 and gave the stock a “buy” rating in a report on Wednesday, August 17th. Cantor Fitzgerald reaffirmed a “hold” rating on shares of Moody’s Corp. in a report on Friday, August 19th. Finally, Zacks Investment Research raised shares of Moody’s Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, June 8th. Eight analysts have rated the stock with a hold rating, three have issued a buy rating and one has issued a strong buy rating to the stock. The stock has an average rating of “Hold” and a consensus price target of $104.46.
The company’s 50 day moving average is $105.25 and its 200-day moving average is $97.83. The company has a market cap of $21.04 billion and a price-to-earnings ratio of 24.44.
Moody’s Corp. (NYSE:MCO) last released its quarterly earnings results on Friday, July 22nd. The company reported $1.30 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.27 by $0.03. The business had revenue of $928.90 million for the quarter, compared to the consensus estimate of $909.08 million. During the same period in the previous year, the business posted $1.28 EPS. Moody’s Corp.’s revenue was up 1.2% on a year-over-year basis. Equities analysts predict that Moody’s Corp. will post $4.56 earnings per share for the current fiscal year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, September 12th. Stockholders of record on Monday, August 22nd will be paid a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a dividend yield of 1.35%. The ex-dividend date of this dividend is Thursday, August 18th.
In other news, insider Raymond W. Mcdaniel sold 7,000 shares of the stock in a transaction on Thursday, September 1st. The shares were sold at an average price of $108.11, for a total transaction of $756,770.00. Following the completion of the sale, the insider now directly owns 227,762 shares in the company, valued at $24,623,349.82. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, SVP Blair Worrall sold 11,054 shares of the stock in a transaction on 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 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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