Zacks: Brokerages Expect Moody’s Co. (NYSE:MCO) Will Announce Quarterly Sales of $1.19 Billion

Brokerages forecast that Moody’s Co. (NYSE:MCO) will post sales of $1.19 billion for the current fiscal quarter, Zacks Investment Research reports. Four analysts have issued estimates for Moody’s’ earnings, with the lowest sales estimate coming in at $1.15 billion and the highest estimate coming in at $1.23 billion. Moody’s reported sales of $1.06 billion in the same quarter last year, which would suggest a positive year over year growth rate of 12.3%. The business is expected to announce its next quarterly earnings report on Friday, February 21st.

According to Zacks, analysts expect that Moody’s will report full year sales of $4.77 billion for the current financial year, with estimates ranging from $4.67 billion to $4.82 billion. For the next financial year, analysts anticipate that the business will post sales of $5.05 billion, with estimates ranging from $4.89 billion to $5.18 billion. Zacks’ sales calculations are an average based on a survey of sell-side analysts that that provide coverage for Moody’s.

Moody’s (NYSE:MCO) last released its quarterly earnings results on Wednesday, October 30th. The business services provider reported $2.15 EPS for the quarter, topping the consensus estimate of $1.99 by $0.16. Moody’s had a return on equity of 270.17% and a net margin of 28.20%. The business had revenue of $1.24 billion during the quarter, compared to analyst estimates of $1.18 billion. During the same period last year, the business posted $1.69 earnings per share. The company’s quarterly revenue was up 14.8% on a year-over-year basis.

MCO has been the topic of a number of analyst reports. JPMorgan Chase & Co. raised their price target on Moody’s from $220.00 to $240.00 and gave the company an “overweight” rating in a research note on Thursday, August 1st. William Blair reiterated an “outperform” rating on shares of Moody’s in a research report on Thursday, October 31st. BMO Capital Markets lifted their target price on Moody’s to $230.00 and gave the stock a “market perform” rating in a research report on Thursday, October 31st. Morgan Stanley lifted their target price on Moody’s from $176.00 to $181.00 and gave the stock an “underweight” rating in a research report on Thursday, October 31st. Finally, ValuEngine cut Moody’s from a “buy” rating to a “hold” rating in a research report on Wednesday, October 2nd. Two analysts have rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. Moody’s has an average rating of “Hold” and an average price target of $208.91.

Moody’s stock opened at $218.74 on Thursday. Moody’s has a 1-year low of $129.26 and a 1-year high of $223.82. The company has a debt-to-equity ratio of 7.50, a current ratio of 1.42 and a quick ratio of 1.42. The stock has a market cap of $41.18 billion, a PE ratio of 29.60, a P/E/G ratio of 2.67 and a beta of 1.24. The stock’s fifty day moving average is $213.31 and its two-hundred day moving average is $204.28.

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, December 12th. Investors of record on Thursday, November 21st will be given a dividend of $0.50 per share. The ex-dividend date is Wednesday, November 20th. This represents a $2.00 annualized dividend and a dividend yield of 0.91%. Moody’s’s dividend payout ratio is currently 27.06%.

In other Moody’s news, insider Robert Fauber sold 3,721 shares of the business’s stock in a transaction on Monday, November 11th. The stock was sold at an average price of $216.26, for a total value of $804,703.46. Following the completion of the transaction, the insider now directly owns 49,591 shares in the company, valued at approximately $10,724,549.66. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP John J. Goggins sold 20,784 shares of the business’s stock in a transaction on Monday, November 11th. The shares were sold at an average price of $218.06, for a total value of $4,532,159.04. Following the completion of the transaction, the executive vice president now owns 86,543 shares of the company’s stock, valued at $18,871,566.58. The disclosure for this sale can be found here. Insiders own 0.90% of the company’s stock.

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Krane Funds Advisors LLC purchased a new stake in Moody’s during the 2nd quarter worth $25,000. Venturi Wealth Management LLC purchased a new position in Moody’s in the 3rd quarter valued at about $25,000. Capital Investment Advisory Services LLC boosted its position in Moody’s by 203.6% in the 2nd quarter. Capital Investment Advisory Services LLC now owns 167 shares of the business services provider’s stock valued at $34,000 after buying an additional 112 shares during the last quarter. Meeder Asset Management Inc. purchased a new position in Moody’s in the 2nd quarter valued at about $37,000. Finally, Private Capital Group LLC boosted its position in Moody’s by 138.9% in the 2nd quarter. Private Capital Group LLC now owns 215 shares of the business services provider’s stock valued at $37,000 after buying an additional 125 shares during the last quarter. 90.27% of the stock is owned by institutional investors.

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.

Recommended Story: Cryptocurrencies

Get a free copy of the Zacks research report on Moody’s (MCO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Earnings History and Estimates 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.