Moody’s (MCO) Set to Announce Earnings on Tuesday

Moody’s (NYSE:MCO) is set to announce its earnings results before the market opens on Tuesday, October 22nd. Analysts expect the company to announce earnings of $2.75 per share for the quarter. Moody’s has set its FY24 guidance at $11.00-11.40 EPS and its FY 2024 guidance at 11.000-11.400 EPS.Parties interested in listening to the company’s conference call can do so using this link.

Moody’s (NYSE:MCO) last announced its quarterly earnings results on Tuesday, July 23rd. The business services provider reported $3.28 EPS for the quarter, beating analysts’ consensus estimates of $3.06 by $0.22. Moody’s had a net margin of 28.34% and a return on equity of 57.03%. The firm had revenue of $1.82 billion during the quarter, compared to the consensus estimate of $1.72 billion. During the same quarter last year, the firm earned $2.30 EPS. The firm’s revenue for the quarter was up 21.6% compared to the same quarter last year. On average, analysts expect Moody’s to post $11 EPS for the current fiscal year and $13 EPS for the next fiscal year.

Moody’s Trading Up 0.5 %

Shares of MCO stock opened at $488.46 on Friday. The company has a market cap of $89.19 billion, a PE ratio of 53.33, a price-to-earnings-growth ratio of 3.10 and a beta of 1.29. Moody’s has a 1 year low of $298.86 and a 1 year high of $495.10. The stock’s 50 day simple moving average is $477.50 and its two-hundred day simple moving average is $435.88. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.52 and a quick ratio of 1.52.

Moody’s Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Friday, September 6th. Shareholders of record on Friday, August 16th were given a dividend of $0.85 per share. This represents a $3.40 dividend on an annualized basis and a yield of 0.70%. The ex-dividend date was Friday, August 16th. Moody’s’s dividend payout ratio (DPR) is 37.12%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on MCO shares. Raymond James downgraded Moody’s from a “market perform” rating to an “underperform” rating in a research report on Monday, September 23rd. Wells Fargo & Company increased their target price on shares of Moody’s from $510.00 to $550.00 and gave the stock an “overweight” rating in a report on Wednesday, October 9th. Evercore ISI started coverage on shares of Moody’s in a report on Wednesday, October 2nd. They issued an “outperform” rating and a $521.00 price target for the company. BMO Capital Markets increased their price objective on shares of Moody’s from $455.00 to $464.00 and gave the company a “market perform” rating in a research note on Tuesday, October 15th. Finally, Stifel Nicolaus boosted their price objective on shares of Moody’s from $443.00 to $454.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $488.46.

Insider Transactions at Moody’s

In other Moody’s news, insider Stephen T. Tulenko sold 500 shares of the firm’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $464.06, for a total value of $232,030.00. Following the sale, the insider now directly owns 6,647 shares of the company’s stock, valued at approximately $3,084,606.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, SVP Richard G. Steele sold 1,862 shares of Moody’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $455.43, for a total value of $848,010.66. Following the sale, the senior vice president now directly owns 1,040 shares in the company, valued at approximately $473,647.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Stephen T. Tulenko sold 500 shares of the business’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $464.06, for a total value of $232,030.00. Following the sale, the insider now owns 6,647 shares of the company’s stock, valued at approximately $3,084,606.82. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 2,931 shares of company stock valued at $1,332,825 in the last ninety days. 0.07% of the stock is currently owned by corporate insiders.

Moody’s Company Profile

Moody’s Corporation operates as an integrated risk assessment firm worldwide. It operates in two segments, Moody’s Analytics and Moody’s Investors Services. The Moody’s Analytics segment develops a range of products and services that support the risk management activities of institutional participants in financial markets.