Moody’s Corporation (MCO) Given New $127.00 Price Target at BMO Capital Markets

Moody’s Corporation (NYSE:MCO) had its price objective boosted by BMO Capital Markets from $124.00 to $127.00 in a research report issued on Friday, July 14th. The firm presently has a “market perform” rating on the business services provider’s stock. BMO Capital Markets’ price objective would indicate a potential downside of 0.59% from the stock’s previous close.

Other analysts also recently issued research reports about the stock. Barclays PLC increased their price objective on shares of Moody’s Corporation from $118.00 to $128.00 and gave the company an “equal weight” rating in a research report on Wednesday, June 28th. Zacks Investment Research downgraded shares of Moody’s Corporation from a “hold” rating to a “sell” rating in a research report on Tuesday, July 11th. Morgan Stanley raised their price target on shares of Moody’s Corporation from $118.00 to $121.00 and gave the stock an “equal weight” rating in a research report on Monday, May 8th. Cantor Fitzgerald reissued a “hold” rating and set a $116.00 price target on shares of Moody’s Corporation in a research report on Monday, May 8th. Finally, BidaskClub downgraded shares of Moody’s Corporation from a “strong-buy” rating to a “buy” rating in a research report on Thursday, June 22nd. Six research analysts have rated the stock with a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Moody’s Corporation presently has an average rating of “Hold” and a consensus price target of $127.13.

Shares of Moody’s Corporation (MCO) opened at 127.76 on Friday. The stock has a market cap of $24.41 billion, a PE ratio of 51.33 and a beta of 1.29. The firm has a 50-day moving average of $126.54 and a 200 day moving average of $116.82. Moody’s Corporation has a 52 week low of $93.51 and a 52 week high of $135.20.

Moody’s Corporation (NYSE:MCO) last issued its quarterly earnings data on Friday, July 21st. The business services provider reported $1.51 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.33 by $0.18. Moody’s Corporation had a net margin of 12.63% and a negative return on equity of 167.31%. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $968.78 million. During the same quarter last year, the company earned $1.30 earnings per share. Moody’s Corporation’s revenue for the quarter was up 7.7% on a year-over-year basis. On average, equities analysts forecast that Moody’s Corporation will post $5.51 EPS for the current fiscal year.

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In other Moody’s Corporation news, VP Linda Huber sold 13,698 shares of Moody’s Corporation stock in a transaction dated Wednesday, June 14th. The stock was sold at an average price of $119.50, for a total transaction of $1,636,911.00. Following the transaction, the vice president now owns 77,836 shares of the company’s stock, valued at approximately $9,301,402. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Raymond W. Mcdaniel sold 61,667 shares of Moody’s Corporation stock in a transaction dated Wednesday, May 17th. The shares were sold at an average price of $113.35, for a total value of $6,989,954.45. Following the sale, the insider now owns 308,761 shares of the company’s stock, valued at $34,998,059.35. The disclosure for this sale can be found here. Insiders sold a total of 257,828 shares of company stock worth $30,938,654 in the last three months. 1.17% of the stock is currently owned by company insiders.

Several large investors have recently made changes to their positions in the stock. Pensionfund DSM Netherlands bought a new stake in Moody’s Corporation during the first quarter valued at $3,417,000. Pensionfund Sabic bought a new stake in Moody’s Corporation during the first quarter valued at $1,714,000. Kentucky Retirement Systems Insurance Trust Fund acquired a new position in shares of Moody’s Corporation during the fourth quarter valued at approximately $508,000. Kentucky Retirement Systems acquired a new position in shares of Moody’s Corporation during the fourth quarter valued at approximately $1,138,000. Finally, Teachers Advisors LLC increased its position in shares of Moody’s Corporation by 38.9% in the fourth quarter. Teachers Advisors LLC now owns 268,758 shares of the business services provider’s stock valued at $25,336,000 after buying an additional 75,240 shares in the last quarter. Institutional investors and hedge funds own 88.81% of the company’s stock.

Moody’s Corporation Company Profile

Moody’s Corporation (Moody’s) is a provider of credit ratings; credit, capital markets and economic related research, data and analytical tools; software solutions and related risk management services, quantitative credit risk measures, financial services training and certification services, and research and analytical services to financial institution customers.

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