Moody’s Corporation (NYSE:MCO) was upgraded by Zacks Investment Research from a “sell” rating to a “buy” rating in a research note issued on Monday, July 17th. The brokerage currently has a $140.00 price objective on the business services provider’s stock. Zacks Investment Research‘s price objective would indicate a potential upside of 5.89% from the stock’s current price.
According to Zacks, “Shares of Moody’s have outperformed the Zacks categorized Miscellaneous Financial Services industry, in the last three months. Also, earnings estimates have been going up ahead of its second quarter results. The company remains well positioned for growth on the back of its dominant position in the credit rating industry, diverse revenue base and disintermediation of credit markets. While stricter regulatory landscapes, mounting expenses, stiff competition across the credit rating industry and litigations issues remain major near-term concerns, the company's inorganic growth strategy and resultant synergies should lead to enhanced profitability and exposure to newer avenues for top line growth.”
A number of other research firms also recently commented on MCO. BMO Capital Markets boosted their price objective on shares of Moody’s Corporation from $124.00 to $127.00 and gave the stock a “market perform” rating in a report on Friday, July 14th. BidaskClub raised shares of Moody’s Corporation from a “buy” rating to a “strong-buy” rating in a report on Friday, June 30th. Barclays PLC upped their price target on shares of Moody’s Corporation from $118.00 to $128.00 and gave the company an “equal weight” rating in a report on Wednesday, June 28th. Morgan Stanley upped their price target on shares of Moody’s Corporation from $117.00 to $118.00 and gave the company an “equal weight” rating in a report on Friday, April 28th. Finally, Cantor Fitzgerald reaffirmed a “hold” rating and issued a $116.00 price target on shares of Moody’s Corporation in a report on Monday, May 8th. Six analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the stock. The company presently has an average rating of “Hold” and a consensus target price of $127.13.
Shares of Moody’s Corporation (MCO) opened at 132.21 on Monday. Moody’s Corporation has a 12-month low of $93.51 and a 12-month high of $135.20. The firm has a market cap of $25.25 billion, a P/E ratio of 53.12 and a beta of 1.29. The firm has a 50-day moving average of $123.89 and a 200-day moving average of $114.74.
Moody’s Corporation (NYSE:MCO) last released its quarterly earnings data on Friday, July 21st. The business services provider reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.33 by $0.18. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $968.78 million. Moody’s Corporation had a net margin of 12.63% and a negative return on equity of 167.31%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $1.30 earnings per share. On average, equities analysts forecast that Moody’s Corporation will post $5.50 earnings per share for the current fiscal year.
In other news, SVP Blair Worrall sold 11,384 shares of the stock in a transaction on Friday, May 19th. The shares were sold at an average price of $114.76, for a total value of $1,306,427.84. Following the completion of the sale, the senior vice president now owns 19,359 shares of the company’s stock, valued at $2,221,638.84. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Raymond W. Mcdaniel sold 61,667 shares of the stock in a transaction on Wednesday, May 17th. The stock was sold at an average price of $113.35, for a total transaction of $6,989,954.45. Following the completion of the sale, the insider now directly owns 308,761 shares of the company’s stock, valued at approximately $34,998,059.35. The disclosure for this sale can be found here. Insiders have sold 212,612 shares of company stock valued at $25,104,433 in the last ninety days. 1.17% of the stock is currently owned by company insiders.
Several large investors have recently added to or reduced their stakes in the company. Oppenheimer Asset Management Inc. acquired a new stake in Moody’s Corporation during the first quarter valued at about $101,000. TrimTabs Asset Management LLC raised its stake in Moody’s Corporation by 89.6% in the first quarter. TrimTabs Asset Management LLC now owns 965 shares of the business services provider’s stock valued at $108,000 after buying an additional 456 shares during the last quarter. American Beacon Advisors Inc. acquired a new stake in Moody’s Corporation during the first quarter valued at about $108,000. State of Alaska Department of Revenue acquired a new stake in Moody’s Corporation during the first quarter valued at about $113,000. Finally, Advisory Services Network LLC acquired a new stake in Moody’s Corporation during the first quarter valued at about $137,000. 88.67% of the stock is owned by institutional investors.
Moody’s Corporation 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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