Moody’s Corporation (MCO) Stock Rating Upgraded by BidaskClub

BidaskClub upgraded shares of Moody’s Corporation (NYSE:MCO) from a buy rating to a strong-buy rating in a research report sent to investors on Friday, June 30th.

A number of other equities research analysts have also issued reports on the company. Zacks Investment Research upgraded Moody’s Corporation from a hold rating to a buy rating and set a $126.00 target price for the company in a research note on Tuesday, March 21st. Barclays PLC increased their target price on Moody’s Corporation from $118.00 to $128.00 and gave the company an equal weight rating in a research note on Wednesday, June 28th. Morgan Stanley increased their target price on Moody’s Corporation from $117.00 to $118.00 and gave the company an equal weight rating in a research note on Friday, April 28th. BMO Capital Markets reiterated a hold rating and issued a $124.00 target price on shares of Moody’s Corporation in a research note on Wednesday, April 26th. Finally, Cantor Fitzgerald reiterated a hold rating and issued a $116.00 target price on shares of Moody’s Corporation in a research note on Monday, May 8th. Six analysts have rated the stock with a hold rating, two have given a buy rating and one has given a strong buy rating to the company. Moody’s Corporation currently has a consensus rating of Hold and a consensus price target of $127.13.

Shares of Moody’s Corporation (NYSE:MCO) traded up 0.24% during mid-day trading on Friday, hitting $132.21. The company’s stock had a trading volume of 677,659 shares. Moody’s Corporation has a 12-month low of $93.51 and a 12-month high of $135.20. The stock has a 50-day moving average of $123.89 and a 200-day moving average of $114.74. The company has a market cap of $25.25 billion, a PE ratio of 53.12 and a beta of 1.29.

Moody’s Corporation (NYSE:MCO) last announced its quarterly earnings results on Friday, July 21st. The business services provider reported $1.51 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.33 by $0.18. The company had revenue of $1 billion during the quarter, compared to analyst estimates of $968.78 million. Moody’s Corporation had a negative return on equity of 167.31% and a net margin of 12.63%. The firm’s revenue was up 7.7% on a year-over-year basis. During the same period in the prior year, the firm posted $1.30 earnings per share. On average, equities research analysts forecast that Moody’s Corporation will post $5.50 EPS for the current year.

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The firm also recently declared a quarterly dividend, which will be paid on Tuesday, September 12th. Investors of record on Tuesday, August 22nd will be issued a $0.38 dividend. This represents a $1.52 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date is Friday, August 18th. Moody’s Corporation’s dividend payout ratio is currently 61.29%.

In other Moody’s Corporation news, insider Raymond W. Mcdaniel sold 61,666 shares of the stock in a transaction that occurred on Friday, July 7th. The stock was sold at an average price of $123.23, for a total transaction of $7,599,101.18. Following the transaction, the insider now owns 308,760 shares of the company’s stock, valued at approximately $38,048,494.80. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, insider Raymond W. Mcdaniel sold 61,667 shares of the stock in a transaction that occurred on Wednesday, May 17th. The stock was sold at an average price of $113.35, for a total value of $6,989,954.45. Following the transaction, the insider now directly owns 308,761 shares in the company, valued at approximately $34,998,059.35. The disclosure for this sale can be found here. Insiders sold 212,612 shares of company stock valued at $25,104,433 in the last three months. 1.17% of the stock is currently owned by company insiders.

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. IBM Retirement Fund increased its position in Moody’s Corporation by 114.9% in the second quarter. IBM Retirement Fund now owns 4,062 shares of the business services provider’s stock worth $553,000 after buying an additional 2,172 shares in the last quarter. Boston Financial Mangement LLC increased its position in Moody’s Corporation by 1.9% in the second quarter. Boston Financial Mangement LLC now owns 102,830 shares of the business services provider’s stock worth $12,512,000 after buying an additional 1,887 shares in the last quarter. Strs Ohio increased its position in Moody’s Corporation by 1.0% in the second quarter. Strs Ohio now owns 201,628 shares of the business services provider’s stock worth $24,534,000 after buying an additional 1,919 shares in the last quarter. Baskin Financial Services Inc. increased its position in Moody’s Corporation by 2.9% in the second quarter. Baskin Financial Services Inc. now owns 90,343 shares of the business services provider’s stock worth $10,993,000 after buying an additional 2,570 shares in the last quarter. Finally, Russell Investments Group Ltd. increased its position in Moody’s Corporation by 3.6% in the second quarter. Russell Investments Group Ltd. now owns 1,641,694 shares of the business services provider’s stock worth $199,855,000 after buying an additional 57,024 shares in the last quarter. 88.67% of the stock is currently owned by institutional investors.

Moody’s Corporation Company Profile

Moody’s Corporation (Moody’s) is a provider of credit ratings; credit, capital markets and economic related research, data and analytical tools; software solutions and related risk management services, quantitative credit risk measures, financial services training and certification services, and research and analytical services to financial institution customers.

Analyst Recommendations for Moody`s Corporation (NYSE:MCO)

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