Key Points
- Moody’s CEO Michael West sold 195 shares for $103,199.85 at an average price of $529.23, reducing his direct stake by 2.33% to 8,179 shares.
- Moody’s latest quarterly results fell short of analyst expectations: EPS was $4.14 versus $4.25 forecast, and revenue was $2.02 billion versus $2.08 billion expected, though revenue grew 0.8% year over year.
- The company declared a quarterly dividend of $1.03 per share, equivalent to $4.12 annually and a 0.8% yield. Analysts’ consensus rating is “Moderate Buy,” with a $552.63 average price target.
Moody's Corporation (NYSE:MCO - Get Free Report) CEO Michael West sold 195 shares of Moody's stock in a transaction dated Wednesday, November 4th. The shares were sold at an average price of $529.23, for a total transaction of $103,199.85. Following the completion of the transaction, the chief executive officer directly owned 8,179 shares of the company's stock, valued at $4,328,572.17. This trade represents a 2.33% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link.
Moody's Price Performance
Shares of NYSE:MCO opened at $514.77 on Friday. The company has a market cap of $88.75 billion, a PE ratio of 31.47, a P/E/G ratio of 2.73 and a beta of 1.30. Moody's Corporation has a fifty-two week low of $402.28 and a fifty-two week high of $546.88. The firm has a 50-day simple moving average of $477.51 and a 200 day simple moving average of $467.15. The company has a quick ratio of 1.29, a current ratio of 1.29 and a debt-to-equity ratio of 1.86.
Moody's (NYSE:MCO - Get Free Report) last issued its earnings results on Wednesday, October 21st. The business services provider reported $4.14 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $4.25 by ($0.11). Moody's had a return on equity of 84.76% and a net margin of 35.26%. The business had revenue of $2.02 billion during the quarter, compared to the consensus estimate of $2.08 billion. During the same period in the prior year, the business earned $3.92 EPS. The business's revenue was up .8% on a year-over-year basis. On average, sell-side analysts anticipate that Moody's Corporation will post 16.73 EPS for the current year.
Moody's Announces Dividend
The business also recently declared a quarterly dividend, which will be paid on Friday, December 11th. Stockholders of record on Friday, November 20th will be given a dividend of $1.03 per share. This represents a $4.12 dividend on an annualized basis and a dividend yield of 0.8%. The ex-dividend date is Friday, November 20th. Moody's's dividend payout ratio is presently 25.11%.
Hedge Funds Weigh In On Moody's
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Nykredit A S acquired a new position in Moody's during the 2nd quarter worth $37,897,000. National Pension Service increased its holdings in shares of Moody's by 0.3% during the second quarter. National Pension Service now owns 500,927 shares of the business services provider's stock valued at $226,880,000 after purchasing an additional 1,634 shares during the period. Edgestream Partners L.P. increased its holdings in shares of Moody's by 806.7% during the first quarter. Edgestream Partners L.P. now owns 9,239 shares of the business services provider's stock valued at $4,031,000 after purchasing an additional 8,220 shares during the period. AXQ Capital LP acquired a new position in shares of Moody's during the second quarter valued at $1,083,000. Finally, Jasper Ridge Partners L.P. bought a new stake in shares of Moody's during the second quarter valued at about $4,483,000. 92.11% of the stock is owned by institutional investors.
Wall Street Analysts Forecast Growth
Several brokerages have weighed in on MCO. Bank of America dropped their target price on Moody's from $580.00 to $575.00 and set a "buy" rating on the stock in a research report on Thursday, October 22nd. Daiwa Securities Group boosted their price target on shares of Moody's from $500.00 to $535.00 and gave the company an "outperform" rating in a report on Tuesday, August 4th. Barclays upped their price target on shares of Moody's from $550.00 to $575.00 and gave the stock an "overweight" rating in a research report on Friday, July 10th. BMO Capital Markets increased their price objective on shares of Moody's from $490.00 to $511.00 and gave the stock a "market perform" rating in a report on Thursday, October 22nd. Finally, Stifel Nicolaus cut their price objective on shares of Moody's from $550.00 to $537.00 and set a "buy" rating on the stock in a research report on Thursday, October 22nd. Thirteen equities research analysts have rated the stock with a Buy rating and seven have issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $552.63.
Check Out Our Latest Research Report on MCO
Moody's Company Profile
(
Get Free Report)
Moody's Corporation (NYSE:MCO) is a global provider of credit ratings, research, data, analytics and risk-management solutions. Through Moody's Investors Service, the company assigns credit ratings and publishes research on corporate, government and structured-finance debt issuers, helping investors and other market participants evaluate credit risk.
Through Moody's Analytics, the company provides financial intelligence, economic research, data, software and advisory services. Its offerings support credit analysis, lending, portfolio management, enterprise risk management, compliance and related functions across financial institutions, corporations, governments and other organizations.
Moody's traces its origins to 1909, when John Moody established the company that introduced published credit ratings for bonds.
Recommended Stories
This instant news alert was generated by narrative science technology and financial data from InsiderTrades.com in order to provide readers with the fastest and most accurate reporting. Please send any questions or comments about this story to [email protected].
