Barclays upgraded shares of Moody's (NYSE:MCO) from an equal weight rating to an overweight rating in a research note issued to investors on Friday, November 17th, Marketbeat Ratings reports. The brokerage currently has $165.00 target price on the business services provider’s stock, up from their previous target price of $150.00.
MCO has been the subject of several other reports. Credit Suisse Group reaffirmed a neutral rating and issued a $137.00 price objective (up from $131.00) on shares of Moody's in a report on Wednesday, August 30th. They noted that the move was a valuation call. Cantor Fitzgerald reissued a hold rating and set a $148.00 price target on shares of Moody's in a report on Monday, November 6th. UBS boosted their price target on Moody's from $138.00 to $142.00 and gave the stock a neutral rating in a report on Friday, August 18th. Argus boosted their price target on Moody's to $165.00 and gave the stock a buy rating in a report on Thursday, November 9th. Finally, BMO Capital Markets restated a market perform rating and set a $136.00 price objective (up previously from $135.00) on shares of Moody's in a research report on Wednesday, September 6th. Six equities research analysts have rated the stock with a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Moody's has a consensus rating of Buy and a consensus target price of $151.89.
Moody's (MCO) traded up $0.19 during midday trading on Friday, hitting $152.27. The stock had a trading volume of 605,777 shares, compared to its average volume of 838,776. Moody's has a 52 week low of $93.51 and a 52 week high of $153.86. The firm has a market capitalization of $28,999.43, a price-to-earnings ratio of 26.48, a P/E/G ratio of 2.69 and a beta of 1.36. The company has a debt-to-equity ratio of -32.57, a quick ratio of 1.15 and a current ratio of 1.15.
Moody's (NYSE:MCO) last posted its quarterly earnings results on Friday, November 3rd. The business services provider reported $1.52 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.37 by $0.15. The firm had revenue of $1.06 billion during the quarter, compared to the consensus estimate of $992.81 million. Moody's had a negative return on equity of 187.20% and a net margin of 13.73%. The business’s revenue was up 15.9% compared to the same quarter last year. During the same period last year, the company earned $1.34 earnings per share. analysts anticipate that Moody's will post 5.94 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Investors of record on Tuesday, November 21st will be given a $0.38 dividend. The ex-dividend date is Monday, November 20th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.00%. Moody's’s dividend payout ratio (DPR) is presently 54.29%.
In related news, Director Darrell Duffie sold 500 shares of the firm’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $138.41, for a total value of $69,205.00. Following the sale, the director now directly owns 21,804 shares of the company’s stock, valued at $3,017,891.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Raymond W. Mcdaniel sold 45,216 shares of the firm’s stock in a transaction dated Thursday, September 7th. The stock was sold at an average price of $134.16, for a total value of $6,066,178.56. Following the completion of the sale, the insider now directly owns 292,310 shares in the company, valued at $39,216,309.60. The disclosure for this sale can be found here. Insiders sold 49,716 shares of company stock worth $6,703,384 in the last quarter. 1.17% of the stock is currently owned by company insiders.
Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Grove Bank & Trust raised its position in shares of Moody's by 156.7% during the 3rd quarter. Grove Bank & Trust now owns 901 shares of the business services provider’s stock valued at $125,000 after buying an additional 550 shares in the last quarter. IFP Advisors Inc increased its position in shares of Moody's by 78.1% during the second quarter. IFP Advisors Inc now owns 1,145 shares of the business services provider’s stock worth $139,000 after acquiring an additional 502 shares during the period. Sun Life Financial INC increased its position in shares of Moody's by 12,200.0% during the second quarter. Sun Life Financial INC now owns 1,230 shares of the business services provider’s stock worth $150,000 after acquiring an additional 1,220 shares during the period. Salem Investment Counselors Inc. increased its position in shares of Moody's by 0.6% during the second quarter. Salem Investment Counselors Inc. now owns 1,346 shares of the business services provider’s stock worth $164,000 after acquiring an additional 8 shares during the period. Finally, Smithfield Trust Co. boosted its stake in Moody's by 6.7% in the second quarter. Smithfield Trust Co. now owns 1,427 shares of the business services provider’s stock valued at $174,000 after acquiring an additional 90 shares in the last quarter. 87.49% of the stock is owned by institutional investors and hedge funds.
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Moody's Company Profile
Moody’s Corporation (Moody’s) is a provider of credit ratings; credit, capital markets and economic related research, data and analytical tools; software solutions and related risk management services, quantitative credit risk measures, financial services training and certification services, and research and analytical services to financial institution customers.
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