Analysts Expect Moody’s Corporation (MCO) Will Post Quarterly Sales of $973.10 Million
Analysts expect that Moody’s Corporation (NYSE:MCO) will announce $973.10 million in sales for the current fiscal quarter, according to Zacks. Three analysts have issued estimates for Moody’s Corporation’s earnings. The highest sales estimate is $1.01 billion and the lowest is $940.20 million. Moody’s Corporation posted sales of $917.10 million in the same quarter last year, which suggests a positive year over year growth rate of 6.1%. The company is expected to issue its next earnings results on Friday, October 20th.
According to Zacks, analysts expect that Moody’s Corporation will report full-year sales of $973.10 million for the current fiscal year, with estimates ranging from $3.90 billion to $4.06 billion. For the next fiscal year, analysts expect that the company will report sales of $4.42 billion per share, with estimates ranging from $4.41 billion to $4.42 billion. Zacks’ sales calculations are an average based on a survey of research analysts that that provide coverage for Moody’s Corporation.
Moody’s Corporation (NYSE:MCO) last issued its earnings results on Friday, July 21st. The business services provider reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.33 by $0.18. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $968.78 million. Moody’s Corporation had a net margin of 12.63% and a negative return on equity of 167.31%. The business’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.30 earnings per share.
A number of research firms have recently weighed in on MCO. Barclays PLC raised their price target on shares of Moody’s Corporation from $135.00 to $150.00 and gave the company an “equal weight” rating in a report on Friday. Morgan Stanley restated an “equal weight” rating and issued a $131.00 price target (up from $122.00) on shares of Moody’s Corporation in a report on Tuesday, July 25th. BMO Capital Markets restated a “market perform” rating and issued a $136.00 price target (up from $135.00) on shares of Moody’s Corporation in a report on Wednesday, September 6th. Credit Suisse Group restated a “neutral” rating and issued a $137.00 price target (up from $131.00) on shares of Moody’s Corporation in a report on Wednesday, August 30th. They noted that the move was a valuation call. Finally, UBS AG restated a “neutral” rating and issued a $138.00 price target (up from $121.00) on shares of Moody’s Corporation in a report on Tuesday, July 25th. Six equities research analysts have rated the stock with a hold rating, one has given a buy rating and one has assigned a strong buy rating to the company’s stock. The company currently has an average rating of “Hold” and a consensus price target of $138.86.
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In related news, insider Raymond W. Mcdaniel sold 61,666 shares of Moody’s Corporation 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 completion of the sale, the insider now directly owns 308,760 shares in the company, valued at approximately $38,048,494.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Raymond W. Mcdaniel sold 45,216 shares of Moody’s Corporation stock in a transaction that occurred on Thursday, September 7th. The stock was sold at an average price of $134.16, for a total transaction of $6,066,178.56. Following the completion of the sale, the insider now owns 292,310 shares of the company’s stock, valued at $39,216,309.60. The disclosure for this sale can be found here. Insiders sold a total of 166,295 shares of company stock valued at $21,232,039 over the last quarter. 1.17% of the stock is owned by company insiders.
Hedge funds have recently added to or reduced their stakes in the stock. Oppenheimer Asset Management Inc. acquired a new stake in Moody’s Corporation in the 1st quarter worth approximately $101,000. TrimTabs Asset Management LLC boosted its stake in Moody’s Corporation by 89.6% in the 1st quarter. TrimTabs Asset Management LLC now owns 965 shares of the business services provider’s stock worth $108,000 after purchasing an additional 456 shares in the last quarter. American Beacon Advisors Inc. acquired a new stake in Moody’s Corporation in the 1st quarter worth approximately $108,000. State of Alaska Department of Revenue acquired a new stake in Moody’s Corporation in the 1st quarter worth approximately $113,000. Finally, IFP Advisors Inc boosted its stake in Moody’s Corporation by 78.1% in the 2nd quarter. IFP Advisors Inc now owns 1,145 shares of the business services provider’s stock worth $139,000 after purchasing an additional 502 shares in the last quarter. Institutional investors own 88.78% of the company’s stock.
Shares of Moody’s Corporation (MCO) traded up 1.02% on Tuesday, hitting $136.33. 936,915 shares of the stock traded hands. The stock’s 50 day moving average price is $132.03 and its 200 day moving average price is $121.18. The stock has a market cap of $26.04 billion, a P/E ratio of 54.77 and a beta of 1.30. Moody’s Corporation has a 52-week low of $93.51 and a 52-week high of $136.82.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 12th. Investors of record on Tuesday, August 22nd were paid a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.11%. The ex-dividend date of this dividend was Friday, August 18th. Moody’s Corporation’s dividend payout ratio (DPR) is presently 61.29%.
Moody’s Corporation Company Profile
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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