Equities research analysts at Oppenheimer started coverage on shares of Moody’s (NYSE:MCO) in a report released on Monday, The Fly reports. The firm set an “outperform” rating and a $290.00 price target on the business services provider’s stock. Oppenheimer’s target price suggests a potential upside of 11.62% from the stock’s previous close.
Several other analysts have also recently weighed in on MCO. BMO Capital Markets raised their price objective on shares of Moody’s from $248.00 to $285.00 in a research report on Friday, May 1st. Wells Fargo & Co lifted their target price on shares of Moody’s from $210.00 to $215.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. UBS Group lifted their target price on shares of Moody’s from $238.00 to $270.00 and gave the stock a “buy” rating in a research report on Friday, May 1st. Morgan Stanley lifted their target price on shares of Moody’s from $211.00 to $228.00 and gave the stock an “equal weight” rating in a research report on Friday, May 1st. Finally, Stifel Nicolaus lifted their target price on shares of Moody’s from $266.00 to $279.00 and gave the stock a “hold” rating in a research report on Thursday, February 13th. Five equities research analysts have rated the stock with a hold rating and eight have issued a buy rating to the company. Moody’s has an average rating of “Buy” and a consensus target price of $263.45.
NYSE MCO traded up $8.50 on Monday, hitting $259.81. The stock had a trading volume of 1,122,036 shares, compared to its average volume of 1,171,744. Moody’s has a 52-week low of $164.19 and a 52-week high of $287.25. The company has a debt-to-equity ratio of 8.47, a quick ratio of 1.70 and a current ratio of 1.70. The company has a market capitalization of $47.12 billion, a price-to-earnings ratio of 32.23, a price-to-earnings-growth ratio of 3.07 and a beta of 1.17. The firm has a 50-day moving average of $237.38 and a 200-day moving average of $237.49.
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Moody’s (NYSE:MCO) last posted its earnings results on Thursday, April 30th. The business services provider reported $2.73 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $2.30 by $0.43. Moody’s had a net margin of 30.88% and a return on equity of 235.22%. The business had revenue of $1.29 billion for the quarter, compared to analysts’ expectations of $1.20 billion. During the same period in the prior year, the company posted $2.07 EPS. The business’s revenue for the quarter was up 13.0% compared to the same quarter last year. As a group, research analysts anticipate that Moody’s will post 8.19 earnings per share for the current fiscal year.
In related news, insider Stephen T. Tulenko sold 5,180 shares of the business’s stock in a transaction dated Wednesday, February 26th. The shares were sold at an average price of $260.98, for a total transaction of $1,351,876.40. Following the sale, the insider now owns 8,576 shares of the company’s stock, valued at $2,238,164.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Raymond W. Mcdaniel sold 42,905 shares of the business’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $222.18, for a total transaction of $9,532,632.90. Following the sale, the chief executive officer now directly owns 286,151 shares in the company, valued at approximately $63,577,029.18. The disclosure for this sale can be found here. Insiders have sold a total of 79,657 shares of company stock worth $18,759,715 in the last ninety days. Insiders own 0.79% of the company’s stock.
A number of institutional investors have recently modified their holdings of MCO. Norges Bank purchased a new position in Moody’s in the fourth quarter worth about $364,459,000. APG Asset Management N.V. raised its holdings in shares of Moody’s by 74.2% during the first quarter. APG Asset Management N.V. now owns 1,504,435 shares of the business services provider’s stock valued at $242,631,000 after purchasing an additional 640,984 shares during the last quarter. Windacre Partnership LLC raised its holdings in shares of Moody’s by 32.6% during the first quarter. Windacre Partnership LLC now owns 2,149,700 shares of the business services provider’s stock valued at $454,662,000 after purchasing an additional 528,500 shares during the last quarter. Investec Asset Management LTD raised its holdings in shares of Moody’s by 18.5% during the fourth quarter. Investec Asset Management LTD now owns 2,521,335 shares of the business services provider’s stock valued at $598,590,000 after purchasing an additional 393,988 shares during the last quarter. Finally, Capital World Investors raised its holdings in shares of Moody’s by 27.3% during the fourth quarter. Capital World Investors now owns 1,809,393 shares of the business services provider’s stock valued at $429,568,000 after purchasing an additional 388,527 shares during the last quarter. 90.99% of the stock is owned by institutional investors and hedge funds.
Moody’s Company Profile
Moody’s Corporation provides credit ratings; and credit, capital markets, and economic 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, such as various corporate and governmental obligations, structured finance securities, and commercial paper programs.
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