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

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

Moody’s Trading Down 0.3 %

Shares of MCO opened at $486.96 on Tuesday. The firm’s 50-day moving average is $478.03 and its two-hundred day moving average is $436.86. Moody’s has a twelve month low of $298.86 and a twelve 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. The firm has a market capitalization of $88.92 billion, a P/E ratio of 53.16, a PEG ratio of 3.10 and a beta of 1.29.

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

Analysts Set New Price Targets

Several equities research analysts have issued reports on the stock. Morgan Stanley raised their price target on shares of Moody’s from $451.00 to $462.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 9th. Oppenheimer lifted their target price on shares of Moody’s from $492.00 to $536.00 and gave the stock an “outperform” rating in a research note on Thursday, October 3rd. Wells Fargo & Company increased their price target on Moody’s from $510.00 to $550.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 9th. StockNews.com upgraded Moody’s from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. Finally, Bank of America raised their price target on Moody’s from $430.00 to $510.00 and gave the stock a “buy” rating in a research note on Tuesday, July 16th. One research analyst has rated the stock with a sell rating, five have given a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $488.46.

Insider Activity at Moody’s

In other Moody’s news, insider Stephen T. Tulenko sold 500 shares of the firm’s stock in a transaction dated Friday, August 9th. The stock was 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 of the company’s stock, valued at $3,084,606.82. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, insider Stephen T. Tulenko sold 500 shares of the stock in a transaction dated Friday, August 9th. The stock was sold at an average price of $464.06, for a total value of $232,030.00. Following the completion of the sale, the insider now owns 6,647 shares in the company, valued at approximately $3,084,606.82. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Stephen T. Tulenko sold 569 shares of the company’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 completion of the transaction, the insider now owns 8,147 shares of the company’s stock, valued at approximately $3,619,386.22. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 2,931 shares of company stock worth $1,332,825. 0.07% of the stock is currently owned by corporate insiders.

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.