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

Moody’s (NYSE:MCO) issued an update on its FY 2024 earnings guidance on Tuesday morning. The company provided EPS guidance of 11.900-12.100 for the period, compared to the consensus EPS estimate of 11.680. The company issued revenue guidance of -. Moody’s also updated its FY24 guidance to $11.90-12.10 EPS.

Moody’s Trading Down 4.0 %

Shares of MCO stock opened at $467.69 on Wednesday. Moody’s has a 12-month low of $298.86 and a 12-month high of $495.10. The firm has a 50 day moving average price of $478.09 and a two-hundred day moving average price of $437.39. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 1.59. The company has a market capitalization of $85.40 billion, a PE ratio of 51.06, a price-to-earnings-growth ratio of 3.10 and a beta of 1.29.

Moody’s (NYSE:MCO) last released its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $3.21 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.89 by $0.32. The business had revenue of $1.81 billion during 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%. The firm’s quarterly revenue was up 23.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.43 EPS. As a group, analysts predict that Moody’s will post 11.46 earnings per share for the current year.

Analysts Set New Price Targets

MCO has been the subject of several analyst reports. Oppenheimer lifted their price objective on shares of Moody’s from $536.00 to $543.00 and gave the stock an “outperform” rating in a research note on Wednesday. Royal Bank of Canada increased their price objective on shares of Moody’s from $450.00 to $475.00 and gave the stock an “outperform” rating in a research note on Wednesday, July 24th. Robert W. Baird boosted their target price on shares of Moody’s from $490.00 to $512.00 and gave the company an “outperform” rating in a research report on Wednesday. Evercore ISI began coverage on shares of Moody’s in a research note on Wednesday, October 2nd. They issued an “outperform” rating and a $521.00 price objective on the stock. Finally, BMO Capital Markets upped their target price on Moody’s from $455.00 to $464.00 and gave the stock a “market perform” rating in a research note on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $496.54.

Insider Activity

In other Moody’s news, SVP Richard G. Steele sold 1,862 shares of the business’s stock in a transaction that occurred on 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 directly 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 transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other Moody’s news, insider Stephen T. Tulenko sold 500 shares of the firm’s stock in a transaction on Friday, August 9th. The stock was sold at an average price of $464.06, for a total transaction 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 trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, 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 stock was sold at an average price of $455.43, for a total transaction of $848,010.66. Following the completion of the sale, the senior vice president now directly owns 1,040 shares in the company, valued at approximately $473,647.20. 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 valued at $1,332,825 over the last quarter. 0.07% of the stock is owned by company 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.