Moody’s (NYSE:MCO)‘s stock had its “buy” rating reiterated by investment analysts at Credit Suisse Group in a report issued on Tuesday, AnalystRatings.com reports. They currently have a $330.00 price target on the business services provider’s stock. Credit Suisse Group’s price target would suggest a potential upside of 13.99% from the company’s current price.
A number of other research analysts also recently weighed in on the company. Morgan Stanley increased their price target on Moody’s from $248.00 to $261.00 and gave the company an “equal weight” rating in a research note on Wednesday, July 8th. BMO Capital Markets upped their price target on Moody’s from $285.00 to $298.00 and gave the company an “outperform” rating in a research note on Monday, June 8th. Oppenheimer began coverage on shares of Moody’s in a research note on Monday, May 18th. They set an “outperform” rating and a $290.00 price objective on the stock. Wells Fargo & Co upped their target price on shares of Moody’s from $210.00 to $215.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. Finally, Zacks Investment Research raised shares of Moody’s from a “hold” rating to a “buy” rating and set a $298.00 price target for the company in a report on Tuesday, July 7th. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $284.69.
Shares of NYSE:MCO opened at $289.50 on Tuesday. The company has a market capitalization of $54.28 billion, a PE ratio of 35.92, a P/E/G ratio of 3.33 and a beta of 1.19. Moody’s has a 52 week low of $164.19 and a 52 week high of $296.66. The company has a debt-to-equity ratio of 8.47, a quick ratio of 1.70 and a current ratio of 1.70. The company’s fifty day moving average is $280.92 and its 200-day moving average is $254.27.
Moody’s (NYSE:MCO) last released its quarterly earnings results on Thursday, April 30th. The business services provider reported $2.73 EPS for the quarter, topping the Zacks’ consensus estimate of $2.30 by $0.43. Moody’s had a return on equity of 235.22% and a net margin of 30.88%. The business had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.20 billion. During the same period in the prior year, the company earned $2.07 EPS. Moody’s’s revenue for the quarter was up 13.0% on a year-over-year basis. On average, analysts forecast that Moody’s will post 8.69 EPS for the current year.
In other Moody’s news, EVP John J. Goggins sold 12,000 shares of the company’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $282.20, for a total value of $3,386,400.00. Following the transaction, the executive vice president now directly owns 30,118 shares in the company, valued at $8,499,299.60. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Stephen T. Tulenko sold 1,500 shares of the stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $293.01, for a total transaction of $439,515.00. Following the completion of the transaction, the insider now directly owns 8,044 shares in the company, valued at $2,356,972.44. The disclosure for this sale can be found here. Insiders have sold 60,727 shares of company stock valued at $16,235,465 in the last quarter. 0.79% of the stock is currently owned by corporate insiders.
A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Norges Bank bought a new position in Moody’s in the 4th quarter worth about $364,459,000. APG Asset Management N.V. lifted its stake in Moody’s by 74.2% in the first quarter. APG Asset Management N.V. now owns 1,504,435 shares of the business services provider’s stock worth $242,631,000 after acquiring an additional 640,984 shares during the period. Windacre Partnership LLC lifted its stake in Moody’s by 32.6% in the first quarter. Windacre Partnership LLC now owns 2,149,700 shares of the business services provider’s stock worth $454,662,000 after acquiring an additional 528,500 shares during the period. BlackRock Inc. boosted its holdings in Moody’s by 2.6% in the first quarter. BlackRock Inc. now owns 11,203,890 shares of the business services provider’s stock valued at $2,369,626,000 after acquiring an additional 286,170 shares in the last quarter. Finally, Alliancebernstein L.P. increased its position in Moody’s by 92.6% during the 1st quarter. Alliancebernstein L.P. now owns 535,115 shares of the business services provider’s stock valued at $113,177,000 after purchasing an additional 257,289 shares during the period. Institutional investors and hedge funds own 90.27% of the company’s stock.
Moody's Corporation provides credit ratings; and credit, capital markets, and economic research, data, and analytical tools worldwide. It operates through two segments, Moody's Investors Service and Moody's Analytics. The Moody's Investors Service segment publishes credit ratings on various debt obligations and entities that issue such obligations, such as various corporate and governmental obligations, structured finance securities, and commercial paper programs.
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