Moody’s (MCO) Given New $189.00 Price Target at UBS Group

Moody’s (NYSE:MCO) had its price objective lowered by UBS Group from $192.00 to $189.00 in a report released on Friday morning, www.benzinga.com reports. The brokerage currently has a neutral rating on the business services provider’s stock.

Several other brokerages have also recently issued reports on MCO. Zacks Investment Research upgraded shares of Moody’s from a sell rating to a hold rating in a research report on Friday, July 20th. Morgan Stanley upped their target price on shares of Moody’s from $176.00 to $179.00 and gave the company a $184.49 rating in a research report on Wednesday, July 18th. Wells Fargo & Co upped their target price on shares of Moody’s from $160.00 to $172.00 and gave the company a market perform rating in a research report on Monday, July 30th. BMO Capital Markets upped their target price on shares of Moody’s from $179.00 to $183.00 and gave the company a market perform rating in a research report on Monday, July 30th. Finally, Stifel Nicolaus upped their target price on shares of Moody’s from $170.00 to $188.00 and gave the company a hold rating in a research report on Monday, July 30th. Eight research analysts have rated the stock with a hold rating and five have given a buy rating to the company. Moody’s has a consensus rating of Hold and an average target price of $178.92.

MCO opened at $175.55 on Friday. Moody’s has a 52 week low of $136.82 and a 52 week high of $187.98. The stock has a market cap of $33.50 billion, a price-to-earnings ratio of 28.54, a P/E/G ratio of 1.95 and a beta of 1.10. The company has a quick ratio of 1.54, a current ratio of 1.54 and a debt-to-equity ratio of 10.72.

Moody’s (NYSE:MCO) last released its quarterly earnings data on Friday, July 27th. The business services provider reported $2.04 EPS for the quarter, beating the consensus estimate of $1.88 by $0.16. Moody’s had a net margin of 24.10% and a return on equity of 907.23%. The business had revenue of $1.18 billion during the quarter, compared to the consensus estimate of $1.15 billion. During the same quarter in the prior year, the firm earned $1.54 EPS. The business’s revenue was up 17.5% on a year-over-year basis. sell-side analysts forecast that Moody’s will post 7.79 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which was paid on Monday, September 10th. Stockholders of record on Monday, August 20th were given a dividend of $0.44 per share. This represents a $1.76 annualized dividend and a dividend yield of 1.00%. The ex-dividend date of this dividend was Friday, August 17th. Moody’s’s dividend payout ratio is 29.00%.

In other Moody’s news, CFO Linda Huber bought 915 shares of the firm’s stock in a transaction dated Monday, August 6th. The shares were purchased at an average cost of $172.31 per share, for a total transaction of $157,663.65. The transaction was disclosed in a filing with the SEC, which is available at this link. 1.00% of the stock is currently owned by corporate insiders.

Institutional investors have recently bought and sold shares of the stock. Neuburgh Advisers LLC raised its position in Moody’s by 3.7% in the 2nd quarter. Neuburgh Advisers LLC now owns 8,636 shares of the business services provider’s stock worth $1,473,000 after purchasing an additional 306 shares during the period. Nomura Asset Management Co. Ltd. raised its position in Moody’s by 9.2% in the 1st quarter. Nomura Asset Management Co. Ltd. now owns 118,516 shares of the business services provider’s stock worth $19,116,000 after purchasing an additional 9,984 shares during the period. Banco de Sabadell S.A purchased a new stake in Moody’s in the 2nd quarter worth about $1,096,000. Norris Perne & French LLP MI raised its position in Moody’s by 5.3% in the 2nd quarter. Norris Perne & French LLP MI now owns 39,030 shares of the business services provider’s stock worth $6,657,000 after purchasing an additional 1,968 shares during the period. Finally, Kiwi Wealth Investments Limited Partnership purchased a new stake in Moody’s in the 2nd quarter worth about $4,456,000. 87.86% of the stock is currently owned by institutional investors.

About Moody’s

Moody's Corporation provides credit ratings; and credit, capital markets, and economic related 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 comprising various corporate and governmental obligations, structured finance securities, and commercial paper programs.

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