Moody’s (NYSE:MCO) had its target price lowered by analysts at Morgan Stanley from $278.00 to $275.00 in a note issued to investors on Friday, BenzingaRatingsTable reports. The brokerage presently has an “equal weight” rating on the business services provider’s stock. Morgan Stanley’s price objective indicates a potential downside of 2.24% from the stock’s current price.
A number of other analysts have also recently weighed in on MCO. 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 research report on Tuesday, July 7th. BMO Capital Markets upped their price target on shares of Moody’s from $285.00 to $298.00 and gave the stock an “outperform” rating in a research report on Monday, June 8th. UBS Group upped their price target on shares of Moody’s from $270.00 to $344.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Goldman Sachs Group upped their price target on shares of Moody’s from $258.00 to $295.00 in a research report on Wednesday, July 8th. Finally, Oppenheimer began coverage on shares of Moody’s in a research report on Monday, May 18th. They set an “outperform” rating and a $290.00 price target for the company. Five research analysts have rated the stock with a hold rating and eight have issued a buy rating to the stock. The stock has a consensus rating of “Buy” and an average target price of $290.75.
Shares of Moody’s stock opened at $281.30 on Friday. The company has a debt-to-equity ratio of 9.17, a current ratio of 2.10 and a quick ratio of 1.70. Moody’s has a 1 year low of $164.19 and a 1 year high of $296.66. The company has a market capitalization of $52.74 billion, a P/E ratio of 34.90, a P/E/G ratio of 3.14 and a beta of 1.19. The business has a 50 day moving average price of $281.46 and a 200 day moving average price of $255.09.
Moody’s (NYSE:MCO) last released its earnings results on Thursday, July 30th. The business services provider reported $2.81 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $2.26 by $0.55. The firm had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.23 billion. Moody’s had a net margin of 33.38% and a return on equity of 204.46%. Moody’s’s revenue for the quarter was up 18.2% on a year-over-year basis. During the same period in the previous year, the company earned $2.07 EPS. As a group, research analysts expect that Moody’s will post 9.07 EPS for the current fiscal year.
In other news, CEO Raymond W. Mcdaniel sold 7,500 shares of the company’s stock in a transaction dated Wednesday, May 6th. The shares were sold at an average price of $245.64, for a total value of $1,842,300.00. Following the sale, the chief executive officer now owns 242,131 shares in the company, valued at approximately $59,477,058.84. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Stephen T. Tulenko sold 2,000 shares of the company’s stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $253.22, for a total transaction of $506,440.00. Following the completion of the sale, the insider now owns 11,544 shares in the company, valued at approximately $2,923,171.68. The disclosure for this sale can be found here. In the last 90 days, insiders sold 60,727 shares of company stock worth $16,235,465. Company insiders own 0.79% of the company’s stock.
Institutional investors have recently modified their holdings of the company. Brinker Capital Inc. boosted its holdings in shares of Moody’s by 4.7% in the fourth quarter. Brinker Capital Inc. now owns 1,517 shares of the business services provider’s stock valued at $360,000 after acquiring an additional 68 shares in the last quarter. Franklin Resources Inc. lifted its stake in Moody’s by 8.5% during the fourth quarter. Franklin Resources Inc. now owns 460,265 shares of the business services provider’s stock valued at $109,272,000 after purchasing an additional 36,175 shares during the last quarter. Quadrant Capital Group LLC lifted its stake in Moody’s by 122.1% during the fourth quarter. Quadrant Capital Group LLC now owns 493 shares of the business services provider’s stock valued at $104,000 after purchasing an additional 271 shares during the last quarter. IMS Capital Management lifted its stake in Moody’s by 3.4% during the first quarter. IMS Capital Management now owns 1,830 shares of the business services provider’s stock valued at $387,000 after purchasing an additional 60 shares during the last quarter. Finally, Triangle Securities Wealth Management acquired a new stake in Moody’s during the first quarter valued at approximately $256,000. Institutional investors and hedge funds own 90.27% of the company’s stock.
Moody’s Company Profile
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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