Moody’s (NYSE:MCO) Posts Earnings Results

Moody’s (NYSE:MCO) announced its quarterly earnings results on Thursday. The business services provider reported $2.81 earnings per share for the quarter, beating the Zacks’ consensus estimate of $2.26 by $0.55, MarketWatch Earnings reports. The company had revenue of $1.44 billion for the quarter, compared to analyst estimates 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 quarter last year, the business earned $2.07 EPS. Moody’s updated its FY 2020
Pre-Market guidance to 8.80-9.20 EPS and its FY20 guidance to $8.80-9.20 EPS.

NYSE MCO traded down $2.47 during mid-day trading on Friday, reaching $281.30. 925,639 shares of the company’s stock traded hands, compared to its average volume of 575,974. Moody’s has a 1-year low of $164.19 and a 1-year high of $296.66. The company has a fifty day simple moving average of $281.46 and a 200-day simple moving average of $255.09. The company has a current ratio of 2.10, a quick ratio of 1.70 and a debt-to-equity ratio of 9.17. The company has a market cap of $52.74 billion, a price-to-earnings ratio of 34.90, a P/E/G ratio of 3.17 and a beta of 1.19.

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 10th. Shareholders of record on Thursday, August 20th will be paid a dividend of $0.56 per share. The ex-dividend date of this dividend is Wednesday, August 19th. This represents a $2.24 dividend on an annualized basis and a yield of 0.80%. Moody’s’s dividend payout ratio (DPR) is presently 27.02%.

In other Moody’s news, insider Stephen T. Tulenko sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The stock was 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 sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Stephen T. Tulenko sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 8th. The shares were sold at an average price of $293.01, for a total value of $439,515.00. Following the sale, the insider now owns 8,044 shares of the company’s stock, valued at approximately $2,356,972.44. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 60,727 shares of company stock valued at $16,235,465. 0.79% of the stock is owned by insiders.

MCO has been the topic of a number of research analyst reports. Morgan Stanley decreased their price target on shares of Moody’s from $278.00 to $275.00 and set an “equal weight” rating on the stock in a report on Friday. UBS Group lifted their price target on shares of Moody’s from $344.00 to $358.00 and gave the company a “buy” rating in a report on Friday. Wells Fargo & Co lifted their target price on shares of Moody’s from $210.00 to $215.00 and gave the company an “equal weight” rating in a report on Friday, May 1st. BMO Capital Markets lifted their target price on shares of Moody’s from $285.00 to $298.00 and gave the company an “outperform” rating in a report on Monday, June 8th. Finally, Oppenheimer initiated coverage on shares of Moody’s in a report on Monday, May 18th. They set an “outperform” rating and a $290.00 target price on the stock. Five research analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. Moody’s has a consensus rating of “Buy” and an average price target of $286.85.

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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Earnings History for Moody`s (NYSE:MCO)

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