Moody’s (NYSE:MCO) Releases FY 2024 Earnings Guidance

by · The Cerbat Gem

Moody’s (NYSE:MCO – Get Free Report) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided earnings per share (EPS) guidance of 11.900-12.100 for the period, compared to the consensus estimate of 11.680. The company issued revenue guidance of -.

Moody’s Price Performance

Shares of NYSE:MCO opened at $486.96 on Tuesday. The company has a 50 day moving average of $478.03 and a 200 day moving average of $436.86. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 1.59. The stock has a market cap of $88.92 billion, a P/E ratio of 53.16, a P/E/G ratio of 3.10 and a beta of 1.29. Moody’s has a 12 month low of $298.86 and a 12 month high of $495.10.

Moody’s (NYSE:MCO – Get Free Report) last released 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 analyst estimates of $1.72 billion. During the same period in the previous year, the business earned $2.30 EPS. The business’s revenue for the quarter was up 21.6% on a year-over-year basis. As a group, sell-side analysts forecast that Moody’s will post 11.46 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on MCO. Royal Bank of Canada lifted their price target on Moody’s from $450.00 to $475.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. UBS Group increased their price target on shares of Moody’s from $455.00 to $470.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Stifel Nicolaus lifted their price objective on shares of Moody’s from $443.00 to $454.00 and gave the stock a “hold” rating in a report on Wednesday, July 24th. Oppenheimer increased their target price on Moody’s from $492.00 to $536.00 and gave the company an “outperform” rating in a research note on Thursday, October 3rd. Finally, Evercore ISI began coverage on Moody’s in a research note on Wednesday, October 2nd. They set an “outperform” rating and a $521.00 price target for the company. One equities 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 company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $488.46.

View Our Latest Research Report on Moody’s

Insider Activity at Moody’s

In other Moody’s news, insider Stephen T. Tulenko sold 569 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $444.26, for a total value of $252,783.94. Following the transaction, the insider now owns 8,147 shares in the company, valued at approximately $3,619,386.22. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, insider Stephen T. Tulenko sold 569 shares of Moody’s stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $444.26, for a total value of $252,783.94. Following the sale, the insider now directly owns 8,147 shares in the company, valued at approximately $3,619,386.22. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Stephen T. Tulenko sold 500 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The shares were sold at an average price of $464.06, for a total value of $232,030.00. Following the transaction, the insider now owns 6,647 shares of the company’s stock, valued at approximately $3,084,606.82. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 2,931 shares of company stock worth $1,332,825 in the last three months. 0.07% of the stock is owned by insiders.

About Moody’s

(Get Free Report)

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.

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