Oppenheimer Analysts Lift Earnings Estimates for Moody’s Co. (NYSE:MCO)

Moody’s Co. (NYSE:MCOGet Rating) – Stock analysts at Oppenheimer lifted their FY2023 earnings per share (EPS) estimates for Moody’s in a report issued on Tuesday, July 26th. Oppenheimer analyst O. Lau now forecasts that the business services provider will post earnings of $11.61 per share for the year, up from their prior estimate of $11.40. The consensus estimate for Moody’s’ current full-year earnings is $10.26 per share.

Several other research firms have also recently issued reports on MCO. Credit Suisse Group dropped their price target on Moody’s from $395.00 to $350.00 in a report on Tuesday, May 3rd. Deutsche Bank Aktiengesellschaft lowered their price objective on shares of Moody’s from $372.00 to $324.00 in a research report on Thursday, June 2nd. BMO Capital Markets lowered their price objective on shares of Moody’s from $331.00 to $309.00 in a research report on Thursday, June 2nd. UBS Group lowered their price objective on shares of Moody’s from $308.00 to $288.00 and set a “neutral” rating on the stock in a research report on Monday, June 6th. Finally, Atlantic Securities cut shares of Moody’s from an “overweight” rating to a “neutral” rating and lowered their price objective for the stock from $370.00 to $298.00 in a research report on Wednesday, June 8th. Six investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $329.25.

Moody’s Price Performance

NYSE MCO opened at $310.25 on Friday. The stock has a market capitalization of $57.24 billion, a P/E ratio of 29.38, a P/E/G ratio of 2.57 and a beta of 1.19. Moody’s has a 1 year low of $251.01 and a 1 year high of $407.94. The business’s fifty day moving average is $281.89 and its two-hundred day moving average is $310.33. The company has a debt-to-equity ratio of 2.82, a quick ratio of 1.36 and a current ratio of 1.36.

Moody’s (NYSE:MCOGet Rating) last announced its earnings results on Tuesday, July 26th. The business services provider reported $2.22 EPS for the quarter, missing the consensus estimate of $2.34 by ($0.12). Moody’s had a return on equity of 79.22% and a net margin of 32.18%. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.43 billion. During the same period in the previous year, the firm earned $3.22 EPS. Moody’s’s revenue for the quarter was down 11.1% on a year-over-year basis.

Institutional Investors Weigh In On Moody’s

Several institutional investors and hedge funds have recently modified their holdings of MCO. Calamos Wealth Management LLC lifted its position in Moody’s by 6.8% during the 1st quarter. Calamos Wealth Management LLC now owns 819 shares of the business services provider’s stock worth $276,000 after acquiring an additional 52 shares during the last quarter. Kovitz Investment Group Partners LLC acquired a new position in shares of Moody’s during the first quarter valued at about $5,843,000. Ellevest Inc. raised its position in shares of Moody’s by 10.3% during the first quarter. Ellevest Inc. now owns 580 shares of the business services provider’s stock valued at $196,000 after buying an additional 54 shares during the last quarter. Allspring Global Investments Holdings LLC acquired a new position in shares of Moody’s during the fourth quarter valued at about $7,451,000. Finally, Addenda Capital Inc. raised its position in shares of Moody’s by 9.2% during the first quarter. Addenda Capital Inc. now owns 12,521 shares of the business services provider’s stock valued at $4,225,000 after buying an additional 1,053 shares during the last quarter. Institutional investors and hedge funds own 91.43% of the company’s stock.

Insider Activity

In other news, Director Raymond W. Mcdaniel sold 10,000 shares of the business’s stock in a transaction on Friday, May 6th. The shares were sold at an average price of $299.41, for a total transaction of $2,994,100.00. Following the transaction, the director now directly owns 57,503 shares in the company, valued at approximately $17,216,973.23. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. 0.38% of the stock is currently owned by corporate insiders.

Moody’s Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, September 9th. Stockholders of record on Friday, August 19th will be issued a dividend of $0.70 per share. This represents a $2.80 annualized dividend and a dividend yield of 0.90%. The ex-dividend date is Thursday, August 18th. Moody’s’s dividend payout ratio is currently 26.52%.

About Moody’s

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Moody's Corporation operates as an integrated risk assessment firm worldwide. It operates in two segments, Moody's Investors Service and Moody's Analytics. The Moody's Investors Service segment publishes credit ratings and provides assessment services on various debt obligations, programs and facilities, and entities that issue such obligations, such as various corporate, financial institution, and governmental obligations, as well as and structured finance securities.

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Earnings History and Estimates for Moody's (NYSE:MCO)

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