Moody’s (NYSE:MCO) Releases FY 2020 Pre-Market Earnings Guidance
Moody’s (NYSE:MCO) issued an update on its FY 2020
Pre-Market earnings guidance on Thursday morning. The company provided earnings per share (EPS) guidance of 8.80-9.20 for the period, compared to the Thomson Reuters consensus estimate of $8.66. Moody’s also updated its FY20 guidance to $8.80-9.20 EPS.
Moody’s stock opened at $281.30 on Friday. The company has a current ratio of 2.10, a quick ratio of 1.70 and a debt-to-equity ratio of 9.17. Moody’s has a 12 month low of $164.19 and a 12 month high of $296.66. The stock’s 50 day simple moving average is $281.46 and its two-hundred day simple moving average is $255.09. The firm has a market cap of $52.74 billion, a PE ratio of 29.03, a P/E/G ratio of 3.14 and a beta of 1.19.
Moody’s (NYSE:MCO) last issued its quarterly earnings results on Thursday, July 30th. The business services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.26 by $0.55. The company had revenue of $1.44 billion during the quarter, compared to analyst estimates of $1.23 billion. Moody’s had a net margin of 33.38% and a return on equity of 204.46%. The firm’s revenue was up 18.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.07 EPS. On average, equities research analysts forecast that Moody’s will post 9.07 EPS for the current year.
A number of analysts have recently commented on the stock. BMO Capital Markets boosted their target price on shares of Moody’s from $285.00 to $298.00 and gave the stock an outperform rating in a research note on Monday, June 8th. Morgan Stanley cut their target price on shares of Moody’s from $278.00 to $275.00 and set an equal weight rating for the company in a research note on Friday. Oppenheimer assumed coverage on shares of Moody’s in a research note on Monday, May 18th. They set an outperform rating and a $290.00 target price for the company. Goldman Sachs Group boosted their target price on shares of Moody’s from $258.00 to $295.00 in a research note on Wednesday, July 8th. Finally, UBS Group boosted their target price on shares of Moody’s from $344.00 to $358.00 and gave the stock a buy rating in a research note on Friday. Five analysts have rated the stock with a hold rating and eight have assigned a buy rating to the company’s stock. Moody’s has a consensus rating of Buy and an average target price of $290.75.
In related news, EVP John J. Goggins sold 17,927 shares of the stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $251.94, for a total transaction of $4,516,528.38. Following the completion of the transaction, the executive vice president now owns 63,718 shares of the company’s stock, valued at approximately $16,053,112.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Stephen T. Tulenko sold 2,000 shares of the stock in a transaction that occurred on Monday, May 11th. The stock was sold at an average price of $253.22, for a total transaction of $506,440.00. Following the transaction, the insider now directly owns 11,544 shares of the company’s stock, valued at approximately $2,923,171.68. The disclosure for this sale can be found here. Insiders have sold a total of 60,727 shares of company stock valued at $16,235,465 in the last ninety days. 0.79% of the stock is currently owned by corporate insiders.
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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