Moody’s (NYSE:MCO) Releases Earnings Results

Moody’s (NYSE:MCO) posted its earnings results on Wednesday. The business services provider reported $2.07 EPS for the quarter, beating the Zacks’ consensus estimate of $1.98 by $0.09, Briefing.com reports. Moody’s had a return on equity of 281.55% and a net margin of 29.38%. The firm had revenue of $1.21 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same period last year, the firm earned $2.04 EPS. The company’s quarterly revenue was up 3.3% on a year-over-year basis. Moody’s updated its FY 2019 guidance to $7.95-8.15 EPS and its FY19 guidance to $7.95-8.15 EPS.

MCO stock traded up $12.10 during trading on Wednesday, hitting $214.34. The stock had a trading volume of 2,125,385 shares, compared to its average volume of 906,818. The company has a debt-to-equity ratio of 17.70, a current ratio of 1.45 and a quick ratio of 1.45. Moody’s has a twelve month low of $129.26 and a twelve month high of $216.74. The stock has a market cap of $38.56 billion, a PE ratio of 29.00, a P/E/G ratio of 1.99 and a beta of 1.26. The business’s 50-day moving average price is $199.35.

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Tuesday, August 20th will be issued a $0.50 dividend. This represents a $2.00 annualized dividend and a yield of 0.93%. The ex-dividend date of this dividend is Monday, August 19th. Moody’s’s payout ratio is 27.06%.

In other news, SVP Melanie Hughes sold 3,039 shares of the business’s stock in a transaction that occurred on Monday, May 6th. The stock was sold at an average price of $197.52, for a total transaction of $600,263.28. Following the transaction, the senior vice president now directly owns 3,912 shares in the company, valued at approximately $772,698.24. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, insider Raymond W. Mcdaniel sold 55,422 shares of the business’s stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $182.23, for a total value of $10,099,551.06. Following the transaction, the insider now owns 275,716 shares in the company, valued at $50,243,726.68. The disclosure for this sale can be found here. Over the last quarter, insiders sold 147,854 shares of company stock worth $27,854,940. 0.90% of the stock is currently owned by insiders.

Several institutional investors have recently modified their holdings of the company. Dimensional Fund Advisors LP raised its position in Moody’s by 9.2% in the 4th quarter. Dimensional Fund Advisors LP now owns 493,989 shares of the business services provider’s stock valued at $69,179,000 after buying an additional 41,661 shares during the last quarter. Geode Capital Management LLC grew its stake in Moody’s by 20.6% in the 4th quarter. Geode Capital Management LLC now owns 2,402,887 shares of the business services provider’s stock valued at $335,962,000 after purchasing an additional 410,864 shares during the period. Municipal Employees Retirement System of Michigan bought a new position in Moody’s in the 4th quarter valued at $620,000. Thrivent Financial for Lutherans grew its stake in Moody’s by 1.8% in the 4th quarter. Thrivent Financial for Lutherans now owns 7,296 shares of the business services provider’s stock valued at $1,022,000 after purchasing an additional 128 shares during the period. Finally, Macquarie Group Ltd. grew its stake in Moody’s by 19.0% in the 4th quarter. Macquarie Group Ltd. now owns 41,310 shares of the business services provider’s stock valued at $5,785,000 after purchasing an additional 6,600 shares during the period. Institutional investors and hedge funds own 92.68% of the company’s stock.

A number of equities research analysts have recently commented on MCO shares. UBS Group raised their target price on Moody’s from $198.00 to $200.00 and gave the company a “neutral” rating in a research report on Wednesday, July 10th. Wells Fargo & Co raised their target price on Moody’s from $170.00 to $195.00 and gave the company a “market perform” rating in a research report on Thursday, April 25th. BMO Capital Markets raised their target price on Moody’s from $189.00 to $194.00 and gave the company a “market perform” rating in a research report on Thursday, April 25th. Piper Jaffray Companies raised their target price on Moody’s from $178.00 to $205.00 and gave the company a “neutral” rating in a research report on Friday, April 5th. Finally, Morgan Stanley raised their target price on Moody’s from $150.00 to $164.00 and gave the company an “underweight” rating in a research report on Wednesday, July 10th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and four have given a buy rating to the stock. The stock currently has an average rating of “Hold” and a consensus price target of $188.89.

About Moody’s

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.

Read More: What is a Tariff?

Earnings History for Moody`s (NYSE:MCO)

Receive News & Ratings for Moody's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Moody's and related companies with MarketBeat.com's FREE daily email newsletter.