Moody’s (NYSE:MCO) Releases FY24 Earnings Guidance

Moody’s (NYSE:MCO) updated its FY24 earnings guidance on Tuesday. The company provided EPS guidance of $11.90-12.10 for the period, compared to the consensus EPS estimate of $11.68. Moody’s also updated its FY 2024 guidance to 11.900-12.100 EPS.

Moody’s Stock Down 3.8 %

MCO opened at $468.44 on Tuesday. Moody’s has a 1-year low of $298.86 and a 1-year high of $495.10. The firm’s 50 day simple moving average is $478.03 and its two-hundred day simple moving average is $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 company has a market capitalization of $85.54 billion, a PE ratio of 53.16, a PEG ratio of 3.10 and a beta of 1.29.

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

Analysts Set New Price Targets

A number of research analysts recently weighed in on the stock. UBS Group lifted their target price on shares of Moody’s from $455.00 to $470.00 and gave the company a “neutral” rating in a research note on Wednesday, July 24th. Oppenheimer upped their price objective on Moody’s from $492.00 to $536.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Stifel Nicolaus lifted their target price on Moody’s from $443.00 to $454.00 and gave the company a “hold” rating in a research note on Wednesday, July 24th. StockNews.com upgraded Moody’s from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. Finally, Royal Bank of Canada lifted their price objective on shares of Moody’s from $450.00 to $475.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $488.46.

Insider Buying and Selling at Moody’s

In related news, SVP Richard G. Steele sold 1,862 shares of Moody’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $455.43, for a total transaction of $848,010.66. Following the completion of 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Stephen T. Tulenko sold 500 shares of the company’s stock in a transaction dated 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 directly owns 6,647 shares in the company, valued at approximately $3,084,606.82. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, SVP Richard G. Steele sold 1,862 shares of Moody’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $455.43, for a total transaction of $848,010.66. Following the sale, the senior vice president now owns 1,040 shares of the company’s stock, valued at $473,647.20. The trade was 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 over the last quarter. Insiders own 0.07% of the company’s stock.

About Moody’s

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.