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

Moody’s (NYSE:MCO) updated its FY 2024 earnings guidance on Tuesday. The company provided EPS guidance of 11.900-12.100 for the period, compared to the consensus EPS estimate of 11.680. The company issued revenue guidance of -. Moody’s also updated its FY24 guidance to $11.90-12.10 EPS.

Analyst Ratings Changes

MCO has been the subject of several research reports. Barclays increased their price objective on shares of Moody’s from $500.00 to $570.00 and gave the stock an “overweight” rating in a research report on Friday, September 13th. The Goldman Sachs Group upped their price objective on Moody’s from $460.00 to $514.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 3rd. UBS Group lifted their target price on Moody’s from $495.00 to $510.00 and gave the company a “neutral” rating in a research report on Wednesday. Wells Fargo & Company lifted their price objective on shares of Moody’s from $510.00 to $550.00 and gave the company an “overweight” rating in a report on Wednesday, October 9th. Finally, Royal Bank of Canada lifted their price target on shares of Moody’s from $450.00 to $475.00 and gave the company an “outperform” rating in a research note on Wednesday, July 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, Moody’s presently has an average rating of “Hold” and an average price target of $500.00.

Moody’s Trading Down 0.4 %

MCO stock opened at $466.94 on Friday. The stock has a market cap of $85.26 billion, a price-to-earnings ratio of 50.98, a price-to-earnings-growth ratio of 3.10 and a beta of 1.29. The company has a fifty day moving average price of $478.15 and a two-hundred day moving average price of $437.61. Moody’s has a one year low of $298.86 and a one year high of $495.10. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.52 and a quick ratio of 1.52.

Moody’s (NYSE:MCO) last issued its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $3.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $0.32. Moody’s had a net margin of 28.34% and a return on equity of 57.03%. The firm had revenue of $1.81 billion during the quarter, compared to the consensus estimate of $1.71 billion. During the same period last year, the business posted $2.43 earnings per share. The business’s revenue for the quarter was up 23.2% compared to the same quarter last year. Equities analysts anticipate that Moody’s will post 11.46 EPS for the current year.

Moody’s Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 22nd will be given a $0.85 dividend. The ex-dividend date of this dividend is Friday, November 22nd. This represents a $3.40 dividend on an annualized basis and a dividend yield of 0.73%. Moody’s’s payout ratio is presently 37.12%.

Insider Activity at Moody’s

In other Moody’s news, insider Stephen T. Tulenko sold 500 shares of the business’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $464.06, for a total value of $232,030.00. Following the completion of the sale, the insider now owns 6,647 shares of the company’s stock, valued at $3,084,606.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, insider Stephen T. Tulenko sold 569 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $444.26, for a total value of $252,783.94. Following the completion of the transaction, the insider now directly owns 8,147 shares in the company, valued at approximately $3,619,386.22. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Stephen T. Tulenko sold 500 shares of the stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $464.06, for a total transaction of $232,030.00. Following the sale, the insider now owns 6,647 shares in the company, valued at $3,084,606.82. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,931 shares of company stock worth $1,332,825. Corporate insiders own 0.07% of the company’s stock.

About Moody’s

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.