Moody’s (NYSE:MCO – Get Free Report) released its quarterly earnings results on Tuesday. The business services provider reported $3.21 earnings per share for the quarter, beating analysts’ consensus estimates of $2.89 by $0.32, RTT News reports. The company had revenue of $1.81 billion for the quarter, compared to analysts’ expectations of $1.71 billion. Moody’s had a return on equity of 57.03% and a net margin of 28.34%. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.43 earnings per share. Moody’s updated its FY 2024 guidance to 11.900-12.100 EPS and its FY24 guidance to $11.90-12.10 EPS.
Moody’s Trading Down 4.0 %
NYSE:MCO opened at $467.69 on Wednesday. The stock has a fifty day simple moving average of $478.09 and a 200 day simple moving average of $437.39. The firm has a market capitalization of $85.40 billion, a price-to-earnings ratio of 51.06, a price-to-earnings-growth ratio of 3.10 and a beta of 1.29. Moody’s has a 1-year low of $298.86 and a 1-year high of $495.10. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 1.59.
Insiders Place Their Bets
In other news, SVP Richard G. Steele sold 1,862 shares of Moody’s stock in a transaction that occurred on Thursday, August 8th. The shares were sold at an average price of $455.43, for a total value of $848,010.66. Following the transaction, the senior vice president now directly owns 1,040 shares of the company’s stock, valued at $473,647.20. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other Moody’s news, SVP Richard G. Steele sold 1,862 shares of the firm’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $455.43, for a total transaction of $848,010.66. Following the completion of the sale, the senior vice president now directly owns 1,040 shares in the company, valued at approximately $473,647.20. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, insider Stephen T. Tulenko sold 569 shares of Moody’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $444.26, for a total value of $252,783.94. Following the transaction, the insider now directly owns 8,147 shares in the company, valued at approximately $3,619,386.22. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 2,931 shares of company stock worth $1,332,825. Company insiders own 0.07% of the company’s stock.
Analyst Upgrades and Downgrades
View Our Latest Stock Analysis on MCO
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.
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