Moody’s Corporation (MCO) Releases FY17 Earnings Guidance

Moody’s Corporation (NYSE:MCO) issued an update on its FY17 earnings guidance on Friday morning. The company provided earnings per share (EPS) guidance of $5.85-6.00 for the period, compared to the Thomson Reuters consensus estimate of $5.71.

Moody’s Corporation (NYSE:MCO) last posted its earnings results on Friday, November 3rd. The business services provider reported $1.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $1.37 by $0.15. Moody’s Corporation had a net margin of 12.63% and a negative return on equity of 167.31%. The business had revenue of $1.06 billion for the quarter, compared to analyst estimates of $992.81 million. During the same quarter in the prior year, the firm earned $1.34 EPS. The firm’s quarterly revenue was up 15.9% compared to the same quarter last year.

The company also recently announced a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Tuesday, November 21st will be issued a $0.38 dividend. This represents a $1.52 annualized dividend and a dividend yield of 1.06%. The ex-dividend date of this dividend is Monday, November 20th. Moody’s Corporation’s payout ratio is 61.29%.

Several brokerages recently issued reports on MCO. UBS AG upped their price target on shares of Moody’s Corporation from $138.00 to $142.00 and gave the stock a neutral rating in a research report on Friday, August 18th. Zacks Investment Research upgraded shares of Moody’s Corporation from a sell rating to a buy rating and set a $140.00 price target on the stock in a research report on Monday, July 17th. BMO Capital Markets reiterated a hold rating and set a $143.00 price target on shares of Moody’s Corporation in a research report on Friday, October 13th. Cantor Fitzgerald reiterated a neutral rating and set a $128.00 price target (up previously from $116.00) on shares of Moody’s Corporation in a research report on Monday, July 24th. Finally, Morgan Stanley reiterated an equal weight rating and set a $135.00 price target (up previously from $134.00) on shares of Moody’s Corporation in a research report on Friday, October 6th. Seven investment analysts have rated the stock with a hold rating, one has issued a buy rating and one has given a strong buy rating to the company. The stock has an average rating of Hold and an average price target of $141.50.

In other Moody’s Corporation news, insider Raymond W. Mcdaniel sold 45,216 shares of the company’s stock in a transaction dated Thursday, September 7th. The shares were sold at an average price of $134.16, for a total transaction of $6,066,178.56. Following the transaction, the insider now directly owns 292,310 shares in the company, valued at approximately $39,216,309.60. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Darrell Duffie sold 500 shares of the company’s stock in a transaction dated Friday, September 29th. The shares were sold at an average price of $138.41, for a total transaction of $69,205.00. Following the transaction, the director now owns 21,804 shares in the company, valued at $3,017,891.64. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 90,932 shares of company stock worth $11,969,604. Corporate insiders own 1.17% of the company’s stock.

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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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