Moody’s (NYSE:MCO) Releases FY 2024 Earnings Guidance

Moody’s (NYSE:MCO) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 11.000-11.400 for the period, compared to the consensus EPS estimate of 11.020. The company issued revenue guidance of -. Moody’s also updated its FY24 guidance to $11.00-11.40 EPS.

Moody’s Stock Up 0.7 %

MCO opened at $436.99 on Friday. Moody’s has a 12 month low of $298.86 and a 12 month high of $458.24. The company has a market cap of $79.79 billion, a PE ratio of 47.71, a price-to-earnings-growth ratio of 2.95 and a beta of 1.28. The company has a current ratio of 1.52, a quick ratio of 1.42 and a debt-to-equity ratio of 1.59. The company has a 50 day moving average of $422.05 and a 200 day moving average of $398.63.

Moody’s (NYSE:MCO) last announced its quarterly earnings results on Tuesday, July 23rd. The business services provider reported $3.28 earnings per share for the quarter, beating the consensus estimate of $3.06 by $0.22. The company had revenue of $1.82 billion during the quarter, compared to analysts’ expectations of $1.72 billion. Moody’s had a return on equity of 57.03% and a net margin of 28.34%. The firm’s quarterly revenue was up 21.6% compared to the same quarter last year. During the same period in the previous year, the business earned $2.30 earnings per share. On average, sell-side analysts expect that Moody’s will post 11.32 EPS for the current year.

Moody’s Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Investors of record on Friday, August 16th will be issued a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 0.78%. The ex-dividend date of this dividend is Friday, August 16th. Moody’s’s dividend payout ratio (DPR) is presently 37.12%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on MCO shares. Stifel Nicolaus upped their price target on shares of Moody’s from $443.00 to $454.00 and gave the stock a hold rating in a report on Wednesday. UBS Group raised their price target on Moody’s from $455.00 to $470.00 and gave the company a neutral rating in a report on Wednesday. Oppenheimer boosted their price objective on Moody’s from $454.00 to $492.00 and gave the stock an outperform rating in a report on Wednesday. Royal Bank of Canada raised their target price on shares of Moody’s from $450.00 to $475.00 and gave the company an outperform rating in a research note on Wednesday. Finally, BMO Capital Markets lowered shares of Moody’s from an outperform rating to a market perform rating and decreased their price target for the stock from $482.00 to $455.00 in a report on Wednesday. Four equities research analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of Moderate Buy and a consensus target price of $448.50.

Moody’s Company Profile

Moody's Corporation operates as an integrated risk assessment firm worldwide. It operates in two segments, Moody's Analytics and Moody's Investors Services. The Moody's Analytics segment develops a range of products and services that support the risk management activities of institutional participants in financial markets.