Moody's Co. (NYSE:MCO – Get Rating) – Analysts at William Blair decreased their FY2024 earnings per share estimates for shares of Moody's in a report issued on Tuesday, January 31st. William Blair analyst A. Nicholas now expects that the business services provider will post earnings of $11.05 per share for the year, down from their prior forecast of $11.30. The consensus estimate for Moody's' current full-year earnings is $9.33 per share.
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Other research analysts have also issued reports about the company. Argus reduced their price target on Moody's from $340.00 to $300.00 and set a "buy" rating for the company in a research report on Wednesday, November 2nd. Stifel Nicolaus cut their price objective on Moody's from $259.00 to $235.00 and set a "hold" rating on the stock in a report on Wednesday, October 12th. Royal Bank of Canada increased their price objective on Moody's from $329.00 to $350.00 in a report on Wednesday. Deutsche Bank Aktiengesellschaft upped their target price on Moody's from $260.00 to $267.00 in a research note on Wednesday, October 26th. Finally, Raymond James downgraded Moody's from an "outperform" rating to a "market perform" rating in a research report on Wednesday. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. According to MarketBeat, Moody's currently has a consensus rating of "Hold" and an average target price of $307.67.
Moody's Price Performance
MCO opened at $329.49 on Thursday. Moody's has a 52-week low of $230.16 and a 52-week high of $354.81. The stock has a market cap of $60.36 billion, a P/E ratio of 44.29, a PEG ratio of 3.14 and a beta of 1.26. The business has a fifty day moving average of $296.73 and a 200 day moving average of $286.31. The company has a quick ratio of 1.80, a current ratio of 1.72 and a debt-to-equity ratio of 2.75.
Moody's (NYSE:MCO – Get Rating) last posted its quarterly earnings data on Tuesday, January 31st. The business services provider reported $1.60 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.42 by $0.18. Moody's had a return on equity of 62.08% and a net margin of 25.13%. The company had revenue of $1.29 billion during the quarter, compared to analysts' expectations of $1.27 billion. During the same quarter in the previous year, the business earned $2.33 EPS. Moody's's revenue was down 16.2% compared to the same quarter last year.
Moody's Increases Dividend
The firm also recently declared a quarterly dividend, which will be paid on Friday, March 17th. Shareholders of record on Friday, February 24th will be issued a $0.77 dividend. The ex-dividend date is Thursday, February 23rd. This is an increase from Moody's's previous quarterly dividend of $0.70. This represents a $3.08 annualized dividend and a yield of 0.93%. Moody's's payout ratio is 37.63%.
Institutional Trading of Moody's
Institutional investors and hedge funds have recently made changes to their positions in the company. Transcend Capital Advisors LLC boosted its position in Moody's by 0.6% in the 4th quarter. Transcend Capital Advisors LLC now owns 5,809 shares of the business services provider's stock valued at $1,618,000 after buying an additional 33 shares during the last quarter. Lindbrook Capital LLC raised its stake in Moody's by 12.7% during the second quarter. Lindbrook Capital LLC now owns 310 shares of the business services provider's stock worth $84,000 after acquiring an additional 35 shares during the period. Quent Capital LLC raised its stake in Moody's by 11.1% during the third quarter. Quent Capital LLC now owns 351 shares of the business services provider's stock worth $85,000 after acquiring an additional 35 shares during the period. Lido Advisors LLC raised its stake in Moody's by 1.0% during the first quarter. Lido Advisors LLC now owns 3,630 shares of the business services provider's stock worth $1,224,000 after acquiring an additional 36 shares during the period. Finally, Geo Capital Gestora de Recursos Ltd increased its stake in shares of Moody's by 13.3% in the third quarter. Geo Capital Gestora de Recursos Ltd now owns 323 shares of the business services provider's stock valued at $79,000 after purchasing an additional 38 shares during the period. 90.84% of the stock is currently owned by institutional investors and hedge funds.
Moody's Company Profile
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Moody's Corp. engages in the provision of credit ratings, research, tools and analysis to the global capital markets. It operates through the following segments: Moody's Investors Service (MIS) and Moody's Analytics (MA). The MIS segment is a credit rating agency, which publishes credit ratings on debt obligations and the entities, including various corporate and governmental obligations, structured finance securities and commercial paper programs.
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