Moody’s Corporation (MCO) Announces Earnings Results
Moody’s Corporation (NYSE:MCO) posted its earnings results on Friday. The business services provider reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.33 by $0.18, Bloomberg Earnings reports. Moody’s Corporation had a negative return on equity of 167.79% and a net margin of 11.37%. The company had revenue of $1 billion for the quarter, compared to the consensus estimate of $968.78 million. During the same quarter in the prior year, the company earned $1.30 earnings per share. Moody’s Corporation’s revenue was up 7.7% on a year-over-year basis. Moody’s Corporation updated its FY17 guidance to $5.35-5.50 EPS.
Moody’s Corporation (MCO) traded up 3.83% during trading on Friday, reaching $132.04. The company’s stock had a trading volume of 1,456,254 shares. Moody’s Corporation has a one year low of $93.51 and a one year high of $133.55. The stock has a 50-day moving average of $121.41 and a 200 day moving average of $113.32. The firm has a market capitalization of $25.26 billion, a P/E ratio of 60.07 and a beta of 1.29.
The company also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Shareholders of record on Tuesday, August 22nd will be issued a dividend of $0.38 per share. This represents a $1.52 annualized dividend and a yield of 1.20%. The ex-dividend date of this dividend is Friday, August 18th. Moody’s Corporation’s dividend payout ratio is presently 70.05%.
Several research analysts have recently commented on the company. BMO Capital Markets reaffirmed a “hold” rating and issued a $124.00 price objective on shares of Moody’s Corporation in a research note on Wednesday, April 26th. Barclays PLC reaffirmed a “hold” rating and issued a $118.00 price objective on shares of Moody’s Corporation in a research note on Thursday, April 27th. Morgan Stanley raised their price objective on Moody’s Corporation from $117.00 to $118.00 and gave the stock an “equal weight” rating in a research note on Friday, April 28th. Cantor Fitzgerald reaffirmed a “hold” rating and issued a $116.00 price objective on shares of Moody’s Corporation in a research note on Monday, May 8th. Finally, Zacks Investment Research downgraded Moody’s Corporation from a “buy” rating to a “hold” rating in a research note on Monday, June 19th. Six equities research analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Hold” and a consensus target price of $118.63.
In other Moody’s Corporation news, insider Raymond W. Mcdaniel sold 61,667 shares of the stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $113.35, for a total transaction of $6,989,954.45. Following the completion of the transaction, the insider now owns 308,761 shares of the company’s stock, valued at $34,998,059.35. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Raymond W. Mcdaniel sold 61,666 shares of the stock in a transaction that occurred on Friday, July 7th. The shares were sold at an average price of $123.23, for a total value of $7,599,101.18. Following the transaction, the insider now directly owns 308,760 shares of the company’s stock, valued at approximately $38,048,494.80. The disclosure for this sale can be found here. Insiders have sold 212,612 shares of company stock valued at $25,104,433 in the last three months. Insiders own 1.17% of the company’s stock.
Large investors have recently bought and sold shares of the stock. Oppenheimer Asset Management Inc. bought a new stake in Moody’s Corporation during the first quarter worth about $101,000. TrimTabs Asset Management LLC raised its stake in Moody’s Corporation by 89.6% in the first quarter. TrimTabs Asset Management LLC now owns 965 shares of the business services provider’s stock worth $108,000 after buying an additional 456 shares during the period. American Beacon Advisors Inc. bought a new stake in Moody’s Corporation during the first quarter worth about $108,000. State of Alaska Department of Revenue bought a new stake in Moody’s Corporation during the first quarter worth about $113,000. Finally, Advisory Services Network LLC bought a new stake in Moody’s Corporation during the first quarter worth about $137,000. Institutional investors and hedge funds own 88.62% of the company’s stock.
About Moody’s Corporation
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 research and analytical services to financial institution customers.
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