Cantor Fitzgerald Weighs in on Moody's Co.’s FY2019 Earnings (MCO)
Moody's Co. (NYSE:MCO) – Equities research analysts at Cantor Fitzgerald issued their FY2019 earnings per share (EPS) estimates for shares of Moody's in a research note issued to investors on Monday. Cantor Fitzgerald analyst J. Foresi expects that the business services provider will earn $8.73 per share for the year. Cantor Fitzgerald currently has a “Neutral” rating and a $155.00 target price on the stock.
A number of other equities analysts also recently commented on MCO. Argus lifted their price objective on Moody's to $190.00 and gave the stock a “buy” rating in a research report on Wednesday. They noted that the move was a valuation call. Barclays lifted their price objective on Moody's from $175.00 to $180.00 and gave the stock an “overweight” rating in a research report on Monday. Credit Suisse Group reiterated a “neutral” rating and set a $187.00 price objective (up previously from $161.00) on shares of Moody's in a research report on Monday. Wells Fargo & Co set a $160.00 price objective on Moody's and gave the stock a “market perform” rating in a research report on Monday. Finally, BMO Capital Markets lifted their price objective on Moody's from $159.00 to $161.00 and gave the stock a “market perform” rating in a research report on Friday, February 9th. Eight analysts have rated the stock with a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Hold” and an average target price of $163.50.
Moody's (NYSE:MCO) last issued its quarterly earnings results on Friday, February 9th. The business services provider reported $1.51 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.45 by $0.06. The firm had revenue of $1.17 billion for the quarter, compared to analyst estimates of $1.07 billion. Moody's had a negative return on equity of 319.45% and a net margin of 23.80%. The business’s revenue was up 23.7% on a year-over-year basis. During the same period in the previous year, the company posted $1.23 earnings per share.
The firm also recently announced a quarterly dividend, which will be paid on Monday, March 12th. Shareholders of record on Tuesday, February 20th will be given a $0.44 dividend. The ex-dividend date of this dividend is Friday, February 16th. This represents a $1.76 dividend on an annualized basis and a yield of 1.08%. This is an increase from Moody's’s previous quarterly dividend of $0.38. Moody's’s payout ratio is currently 29.51%.
In other Moody's news, Director Ewald Kist sold 4,000 shares of Moody's stock in a transaction on Thursday, November 16th. The stock was sold at an average price of $142.00, for a total value of $568,000.00. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Darrell Duffie sold 500 shares of Moody's stock in a transaction on Friday, December 29th. The shares were sold at an average price of $147.93, for a total value of $73,965.00. Following the completion of the sale, the director now owns 21,336 shares in the company, valued at approximately $3,156,234.48. The disclosure for this sale can be found here. Insiders sold 5,005 shares of company stock worth $716,738 in the last 90 days. Company insiders own 1.17% of the company’s stock.
Large investors have recently bought and sold shares of the business. Dimensional Fund Advisors LP raised its position in Moody's by 0.9% in the second quarter. Dimensional Fund Advisors LP now owns 360,335 shares of the business services provider’s stock valued at $43,846,000 after purchasing an additional 3,364 shares during the period. Bredin Investment LLC purchased a new stake in Moody's in the fourth quarter valued at $601,000. CAPROCK Group Inc. purchased a new stake in Moody's in the third quarter valued at $336,000. Wells Fargo & Company MN raised its position in Moody's by 15.1% in the third quarter. Wells Fargo & Company MN now owns 383,359 shares of the business services provider’s stock valued at $53,367,000 after purchasing an additional 50,364 shares during the period. Finally, Korea Investment CORP raised its position in Moody's by 10.3% in the third quarter. Korea Investment CORP now owns 102,998 shares of the business services provider’s stock valued at $14,338,000 after purchasing an additional 9,600 shares during the period. Institutional investors own 87.31% of the company’s stock.
Moody's 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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