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

Moody’s (NYSE:MCO) updated its FY 2024 earnings guidance on Tuesday. 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 also updated its FY24 guidance to $11.90-12.10 EPS.

Wall Street Analyst Weigh In

A number of equities research analysts have commented on MCO shares. Stifel Nicolaus increased their price objective on shares of Moody’s from $443.00 to $454.00 and gave the company a “hold” rating in a research report on Wednesday, July 24th. Royal Bank of Canada increased their target price on Moody’s from $450.00 to $475.00 and gave the company an “outperform” rating in a report on Wednesday, July 24th. UBS Group lifted their price target on Moody’s from $455.00 to $470.00 and gave the stock a “neutral” rating in a report on Wednesday, July 24th. Evercore ISI started coverage on Moody’s in a report on Wednesday, October 2nd. They issued an “outperform” rating and a $521.00 price objective on the stock. Finally, Oppenheimer raised their target price on Moody’s from $492.00 to $536.00 and gave the stock an “outperform” rating in a research report on Thursday, October 3rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $488.46.

Moody’s Stock Performance

Shares of MCO opened at $486.96 on Tuesday. The company’s 50 day simple moving average is $478.03 and its 200-day simple moving average is $436.86. The firm has a market cap of $88.92 billion, a PE ratio of 53.16, a price-to-earnings-growth 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. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 1.59.

Moody’s (NYSE:MCO) last issued its quarterly earnings data on Tuesday, October 22nd. The business services provider reported $3.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.75 by $0.46. Moody’s had a net margin of 28.34% and a return on equity of 57.03%. The company had revenue of $1.81 billion for the quarter, compared to the consensus estimate of $1.71 billion. During the same period last year, the firm posted $2.43 EPS. Moody’s’s revenue for the quarter was up 23.2% on a year-over-year basis. As a group, equities analysts predict that Moody’s will post 11.46 EPS for the current year.

Insider Activity at Moody’s

In other Moody’s news, insider Stephen T. Tulenko sold 569 shares of the stock in a transaction that occurred on Monday, August 5th. The stock was sold at an average price of $444.26, for a total transaction of $252,783.94. Following the completion of the sale, the insider now directly owns 8,147 shares of the company’s stock, valued at approximately $3,619,386.22. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Moody’s news, SVP Richard G. Steele sold 1,862 shares of the business’s stock in a transaction on Thursday, August 8th. The shares were sold at an average price of $455.43, for a total value of $848,010.66. Following the transaction, the senior vice president now directly owns 1,040 shares of the company’s stock, valued at approximately $473,647.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Stephen T. Tulenko sold 569 shares of the firm’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $444.26, for a total transaction of $252,783.94. Following the completion of the sale, the insider now owns 8,147 shares of the company’s stock, valued at $3,619,386.22. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 2,931 shares of company stock worth $1,332,825 in the last quarter. Company insiders own 0.07% of the company’s stock.

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.