Moody’s Co. (NYSE:MCO) declared a quarterly dividend on Thursday, July 30th, Zacks reports. Stockholders of record on Thursday, August 20th will be paid a dividend of 0.56 per share by the business services provider on Thursday, September 10th. This represents a $2.24 dividend on an annualized basis and a dividend yield of 0.80%. The ex-dividend date is Wednesday, August 19th.
Moody’s has raised its dividend by an average of 35.1% per year over the last three years and has increased its dividend annually for the last 10 consecutive years. Moody’s has a dividend payout ratio of 27.3% meaning its dividend is sufficiently covered by earnings. Analysts expect Moody’s to earn $9.46 per share next year, which means the company should continue to be able to cover its $2.24 annual dividend with an expected future payout ratio of 23.7%.
Shares of MCO traded down $3.79 during trading hours on Friday, reaching $279.98. The company had a trading volume of 12,471 shares, compared to its average volume of 562,409. The firm has a 50 day simple moving average of $281.32 and a 200-day simple moving average of $254.91. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 8.47. The company has a market capitalization of $52.55 billion, a price-to-earnings ratio of 34.77, a PEG ratio of 3.35 and a beta of 1.19. Moody’s has a 12-month low of $164.19 and a 12-month high of $296.66.
Moody’s (NYSE:MCO) last issued its quarterly earnings data on Thursday, July 30th. The business services provider reported $2.81 EPS for the quarter, beating the Zacks’ consensus estimate of $2.26 by $0.55. The firm had revenue of $1.44 billion for the quarter, compared to analysts’ expectations of $1.23 billion. Moody’s had a net margin of 30.88% and a return on equity of 235.22%. The firm’s revenue was up 18.2% on a year-over-year basis. During the same period in the prior year, the company earned $2.07 EPS. Sell-side analysts forecast that Moody’s will post 8.69 earnings per share for the current year.
A number of brokerages recently commented on MCO. Wells Fargo & Co increased their price objective on shares of Moody’s from $210.00 to $215.00 and gave the company an “equal weight” rating in a research note on Friday, May 1st. Morgan Stanley lowered their price objective on shares of Moody’s from $278.00 to $275.00 and set an “equal weight” rating on the stock in a research note on Friday. Credit Suisse Group reissued a “buy” rating and issued a $330.00 price objective on shares of Moody’s in a research note on Tuesday. Zacks Investment Research raised shares of Moody’s from a “hold” rating to a “buy” rating and set a $298.00 price objective on the stock in a research note on Tuesday, July 7th. Finally, 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 price target on the stock. Five analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average target price of $285.77.
In related news, EVP John J. Goggins sold 17,927 shares of the firm’s stock in a transaction that occurred on Thursday, May 14th. The shares were sold at an average price of $251.94, for a total value of $4,516,528.38. Following the sale, the executive vice president now directly owns 63,718 shares of the company’s stock, valued at $16,053,112.92. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Stephen T. Tulenko sold 1,500 shares of the firm’s stock in a transaction that occurred on Wednesday, July 8th. The stock was sold at an average price of $293.01, for a total transaction of $439,515.00. Following the completion of the sale, the insider now directly owns 8,044 shares in the company, valued at $2,356,972.44. The disclosure for this sale can be found here. Insiders sold 60,727 shares of company stock worth $16,235,465 over the last three months. Corporate insiders own 0.79% of the company’s stock.
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.
See Also: Ex-Dividend
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