Morgan Stanley Reiterates Equal Weight Rating for Moody’s Corporation (MCO)
Moody’s Corporation (NYSE:MCO)‘s stock had its “equal weight” rating reiterated by investment analysts at Morgan Stanley in a research note issued to investors on Friday. They currently have a $135.00 target price on the business services provider’s stock, up from their prior target price of $134.00. Morgan Stanley’s price objective would suggest a potential downside of 5.26% from the stock’s current price.
Other equities analysts have also recently issued reports about the stock. Zacks Investment Research raised shares of Moody’s Corporation from a “hold” rating to a “buy” rating and set a $148.00 target price on the stock in a report on Thursday, August 17th. BidaskClub cut shares of Moody’s Corporation from a “strong-buy” rating to a “buy” rating in a report on Thursday, June 22nd. Barclays PLC lifted their target price on shares of Moody’s Corporation from $118.00 to $128.00 and gave the company an “equal weight” rating in a report on Wednesday, June 28th. Piper Jaffray Companies reissued a “hold” rating and issued a $149.00 price objective (up from $140.00) on shares of Moody’s Corporation in a research note on Wednesday. Finally, BMO Capital Markets boosted their price objective on shares of Moody’s Corporation from $124.00 to $127.00 and gave the company a “market perform” rating in a research note on Friday, July 14th. Seven analysts have rated the stock with a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $140.63.
Shares of Moody’s Corporation (NYSE:MCO) opened at 142.49 on Friday. The stock has a 50 day moving average of $136.00 and a 200 day moving average of $124.04. Moody’s Corporation has a 12-month low of $93.51 and a 12-month high of $143.98. The stock has a market capitalization of $27.22 billion, a P/E ratio of 57.25 and a beta of 1.28.
Moody’s Corporation (NYSE:MCO) last announced its earnings results on Friday, July 21st. The business services provider reported $1.51 EPS for the quarter, beating analysts’ consensus estimates of $1.33 by $0.18. The business had revenue of $1 billion for the quarter, compared to analysts’ expectations of $968.78 million. Moody’s Corporation had a net margin of 12.63% and a negative return on equity of 167.31%. The company’s quarterly revenue was up 7.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.30 EPS. Equities research analysts anticipate that Moody’s Corporation will post $5.68 EPS for the current fiscal year.
In other Moody’s Corporation news, insider Raymond W. Mcdaniel sold 45,216 shares of the business’s stock in a transaction on Monday, August 7th. The shares were sold at an average price of $129.03, for a total transaction of $5,834,220.48. Following the sale, the insider now directly owns 292,310 shares in the company, valued at approximately $37,716,759.30. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Darrell Duffie sold 500 shares of the business’s stock in a transaction on Friday, September 29th. The stock was sold at an average price of $138.41, for a total transaction of $69,205.00. Following the sale, the director now owns 21,804 shares in the company, valued at $3,017,891.64. The disclosure for this sale can be found here. Insiders sold a total of 90,932 shares of company stock worth $11,969,604 over the last three months. 1.17% of the stock is currently owned by corporate insiders.
Several hedge funds and other institutional investors have recently modified their holdings of the business. Pensionfund Sabic purchased a new stake in shares of Moody’s Corporation during the 3rd quarter worth $2,005,000. Pensionfund DSM Netherlands purchased a new stake in shares of Moody’s Corporation during the 3rd quarter worth $3,619,000. Curbstone Financial Management Corp boosted its position in shares of Moody’s Corporation by 90.9% during the 3rd quarter. Curbstone Financial Management Corp now owns 4,200 shares of the business services provider’s stock worth $585,000 after purchasing an additional 2,000 shares in the last quarter. Lord Abbett & CO. LLC boosted its position in shares of Moody’s Corporation by 20.3% during the 2nd quarter. Lord Abbett & CO. LLC now owns 86,852 shares of the business services provider’s stock worth $10,568,000 after purchasing an additional 14,678 shares in the last quarter. Finally, Toronto Dominion Bank boosted its position in shares of Moody’s Corporation by 25.8% during the 2nd quarter. Toronto Dominion Bank now owns 56,446 shares of the business services provider’s stock worth $6,867,000 after purchasing an additional 11,585 shares in the last quarter. Institutional investors own 88.74% of the company’s stock.
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.
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