Moody’s (NYSE:MCO) Releases 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.

Moody’s Trading Down 0.6 %

Shares of MCO stock traded down $2.91 during trading hours on Thursday, reaching $465.95. The company’s stock had a trading volume of 24,053 shares, compared to its average volume of 739,891. The stock has a market capitalization of $85.08 billion, a P/E ratio of 51.19, a P/E/G ratio of 3.10 and a beta of 1.29. Moody’s has a one year low of $298.86 and a one year high of $495.10. The firm’s fifty day simple moving average is $478.15 and its 200 day simple moving average is $437.61. 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 released its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $3.21 earnings per share for the quarter, beating the consensus estimate of $2.89 by $0.32. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.71 billion. Moody’s had a return on equity of 57.03% and a net margin of 28.34%. The firm’s revenue was up 23.2% on a year-over-year basis. During the same period in the previous year, the company posted $2.43 earnings per share. Equities research analysts expect that Moody’s will post 11.46 EPS for the current year.

Moody’s Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, December 13th. Stockholders of record on Friday, November 22nd will be paid a $0.85 dividend. This represents a $3.40 annualized dividend and a dividend yield of 0.73%. The ex-dividend date of this dividend is Friday, November 22nd. Moody’s’s dividend payout ratio is currently 37.12%.

Analyst Upgrades and Downgrades

Several analysts recently commented on MCO shares. Bank of America lifted their price objective on Moody’s from $430.00 to $510.00 and gave the stock a “buy” rating in a report on Tuesday, July 16th. The Goldman Sachs Group upped their price objective on Moody’s from $460.00 to $514.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 3rd. Raymond James downgraded Moody’s from a “market perform” rating to an “underperform” rating in a research report on Monday, September 23rd. BMO Capital Markets upped their price objective on Moody’s from $455.00 to $464.00 and gave the company a “market perform” rating in a research report on Tuesday, October 15th. Finally, Royal Bank of Canada upped their price objective on Moody’s from $450.00 to $475.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating and eight have given a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $500.00.

Insider Buying and Selling at Moody’s

In other Moody’s news, insider Stephen T. Tulenko sold 569 shares of the business’s stock in a transaction on Monday, August 5th. The shares were 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 in the company, valued at $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 SEC, which is available at the SEC website. In related news, insider Stephen T. Tulenko sold 569 shares of the business’s stock in a transaction on Monday, August 5th. The shares were sold at an average price of $444.26, for a total transaction of $252,783.94. Following the completion of 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 sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Stephen T. Tulenko sold 500 shares of the business’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 owns 6,647 shares of the company’s stock, valued at approximately $3,084,606.82. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 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.