Moody’s (NYSE:MCO) had its price objective boosted by investment analysts at Wells Fargo & Co from $215.00 to $275.00 in a research note issued to investors on Thursday, The Fly reports. The firm currently has an “equal weight” rating on the business services provider’s stock. Wells Fargo & Co‘s price target points to a potential upside of 0.58% from the company’s current price.
Other equities research analysts have also recently issued reports about the stock. Morgan Stanley upgraded shares of Moody’s from an “underweight” rating to an “equal weight” rating and raised their price target for the stock from $181.00 to $224.00 in a report on Tuesday, January 7th. Barclays restated a “buy” rating and issued a $260.00 price target on shares of Moody’s in a report on Wednesday, December 18th. BMO Capital Markets upgraded shares of Moody’s from a “market perform” rating to a “buy” rating and set a $281.00 price target for the company in a report on Monday, January 27th. Stifel Nicolaus restated a “hold” rating and issued a $228.00 price target on shares of Moody’s in a report on Thursday, January 2nd. Finally, William Blair reaffirmed an “outperform” rating on shares of Moody’s in a research note on Thursday, October 31st. Six research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. Moody’s presently has a consensus rating of “Buy” and a consensus target price of $245.82.
MCO opened at $273.41 on Thursday. Moody’s has a twelve month low of $162.57 and a twelve month high of $276.99. The company has a quick ratio of 1.42, a current ratio of 1.42 and a debt-to-equity ratio of 7.50. The company has a fifty day moving average of $253.17 and a 200-day moving average of $226.43. The stock has a market cap of $50.68 billion, a PE ratio of 40.03, a price-to-earnings-growth ratio of 2.97 and a beta of 1.21.
Moody’s (NYSE:MCO) last posted its quarterly earnings data on Wednesday, February 12th. The business services provider reported $2.00 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.92 by $0.08. The company had revenue of $1.23 billion during the quarter, compared to analysts’ expectations of $1.21 billion. Moody’s had a net margin of 28.20% and a return on equity of 270.17%. Moody’s’s revenue for the quarter was up 16.3% compared to the same quarter last year. During the same period in the prior year, the company posted $1.63 earnings per share. Sell-side analysts anticipate that Moody’s will post 8.2 EPS for the current fiscal year.
In related news, EVP John J. Goggins sold 8,508 shares of the firm’s stock in a transaction dated Monday, December 16th. The shares were sold at an average price of $237.08, for a total transaction of $2,017,076.64. Following the transaction, the executive vice president now directly owns 61,934 shares of the company’s stock, valued at $14,683,312.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert Fauber sold 3,721 shares of the firm’s stock in a transaction dated Monday, February 10th. The shares were sold at an average price of $266.95, for a total transaction of $993,320.95. Following the transaction, the insider now directly owns 49,591 shares in the company, valued at $13,238,317.45. The disclosure for this sale can be found here. Insiders sold 19,902 shares of company stock worth $5,004,457 over the last ninety days. Insiders own 0.90% of the company’s stock.
Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Venturi Wealth Management LLC bought a new position in shares of Moody’s during the third quarter valued at about $25,000. Penserra Capital Management LLC purchased a new position in shares of Moody’s in the third quarter worth about $26,000. Evoke Wealth LLC purchased a new position in shares of Moody’s in the third quarter worth about $26,000. Princeton Global Asset Management LLC purchased a new position in shares of Moody’s in the fourth quarter worth about $26,000. Finally, Acadian Asset Management LLC purchased a new position in shares of Moody’s in the fourth quarter worth about $34,000. 90.50% of the stock is currently owned by institutional investors.
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.
Featured Story: What is a Buy-Side Analyst?
Receive News & Ratings for Moody's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Moody's and related companies with MarketBeat.com's FREE daily email newsletter.