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 (EPS) guidance of $11.90-12.10 for the period, compared to the consensus estimate of $11.68. Moody’s also updated its FY 2024 guidance to 11.900-12.100 EPS.

Wall Street Analyst Weigh In

MCO has been the subject of a number of research reports. BMO Capital Markets increased their target price 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. Raymond James cut shares of Moody’s from a “market perform” rating to an “underperform” rating in a research report on Monday, September 23rd. Stifel Nicolaus lifted their price objective on shares of Moody’s from $443.00 to $454.00 and gave the stock a “hold” rating in a research note on Wednesday, July 24th. Robert W. Baird boosted their target price on Moody’s from $490.00 to $512.00 and gave the company an “outperform” rating in a research report on Wednesday. Finally, Bank of America boosted their target price on shares of Moody’s from $430.00 to $510.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $496.54.

Moody’s Stock Up 0.3 %

NYSE MCO traded up $1.42 during trading on Wednesday, reaching $469.15. 16,305 shares of the company’s stock traded hands, compared to its average volume of 740,051. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.52 and a quick ratio of 1.52. The company’s 50 day simple moving average is $478.09 and its two-hundred day simple moving average is $437.39. Moody’s has a 12-month low of $298.86 and a 12-month high of $495.10. The firm has a market cap of $85.67 billion, a price-to-earnings ratio of 51.06, a price-to-earnings-growth ratio of 3.10 and a beta of 1.29.

Moody’s (NYSE:MCO) last posted its 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 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 quarterly revenue was up 23.2% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.43 earnings per share. As a group, sell-side analysts forecast that Moody’s will post 11.46 EPS for the current fiscal year.

Insider Transactions at Moody’s

In other news, 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 value 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In other 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 completion of the transaction, the insider now directly owns 6,647 shares in the company, valued at $3,084,606.82. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Stephen T. Tulenko sold 569 shares of Moody’s stock in a transaction that occurred 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 sale, the insider now owns 8,147 shares of the company’s stock, valued at approximately $3,619,386.22. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 2,931 shares of company stock valued at $1,332,825. Corporate 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.