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 target price would suggest a potential upside of 8.28% from the company’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.”
Several other equities research analysts also recently weighed in on the stock. BidaskClub downgraded shares of Moody’s Corporation from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Barclays PLC increased their price objective on shares of Moody’s Corporation from $118.00 to $128.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 28th. Morgan Stanley increased their price objective on shares of Moody’s Corporation from $117.00 to $118.00 and gave the company an “equal weight” rating in a research report on Friday, April 28th. BMO Capital Markets reissued a “hold” rating and issued a $124.00 price objective on shares of Moody’s Corporation in a research report on Wednesday, April 26th. Finally, Cantor Fitzgerald reissued a “hold” rating and issued a $116.00 price objective on shares of Moody’s Corporation in a research report on Monday, May 8th. Six research analysts have rated the stock with a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company’s stock. Moody’s Corporation currently has a consensus rating of “Hold” and an average price target of $127.13.
Moody’s Corporation (NYSE:MCO) opened at 129.29 on Monday. Moody’s Corporation has a one year low of $93.51 and a one year high of $135.20. The company’s 50-day moving average is $124.73 and its 200 day moving average is $115.54. The stock has a market capitalization of $24.70 billion, a price-to-earnings ratio of 51.94 and a beta of 1.29.
Moody’s Corporation (NYSE:MCO) last announced its earnings results on Friday, July 21st. The business services provider reported $1.51 earnings per share for the quarter, topping the consensus estimate of $1.33 by $0.18. Moody’s Corporation had a net margin of 12.63% and a negative return on equity of 167.31%. The firm had revenue of $1 billion for the quarter, compared to the consensus estimate of $968.78 million. During the same period in the prior year, the firm earned $1.30 EPS. The firm’s revenue for the quarter was up 7.7% on a year-over-year basis. Equities analysts expect that Moody’s Corporation will post $5.51 EPS for the current year.
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In related news, Director Darrell Duffie sold 500 shares of the stock in a transaction on Friday, June 30th. The shares were sold at an average price of $121.64, for a total value of $60,820.00. Following the transaction, the director now directly owns 22,268 shares of the company’s stock, valued at approximately $2,708,679.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Raymond W. Mcdaniel sold 61,666 shares of the stock in a transaction on Friday, July 7th. The shares were sold at an average price of $123.23, for a total transaction of $7,599,101.18. Following the completion of the transaction, the insider now directly owns 308,760 shares in the company, valued at $38,048,494.80. The disclosure for this sale can be found here. Insiders sold a total of 212,612 shares of company stock worth $25,104,433 over the last ninety days. Insiders own 1.17% of the company’s stock.
Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Pensionfund DSM Netherlands bought a new position in Moody’s Corporation during the first quarter worth approximately $3,417,000. Pensionfund Sabic acquired a new stake in shares of Moody’s Corporation during the first quarter worth $1,714,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in shares of Moody’s Corporation during the fourth quarter worth $508,000. Kentucky Retirement Systems acquired a new stake in shares of Moody’s Corporation during the fourth quarter worth $1,138,000. Finally, Teachers Advisors LLC boosted its stake in shares of Moody’s Corporation by 38.9% in the fourth quarter. Teachers Advisors LLC now owns 268,758 shares of the business services provider’s stock worth $25,336,000 after buying an additional 75,240 shares in the last quarter. 88.86% of the stock is currently owned by hedge funds and other institutional investors.
About Moody’s Corporation
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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