Moody’s (NYSE:MCO) Price Target Raised to $295.00 at Goldman Sachs Group

Moody’s (NYSE:MCO) had its target price boosted by Goldman Sachs Group from $258.00 to $295.00 in a research note issued to investors on Wednesday, The Fly reports.

Several other equities research analysts also recently issued reports on the stock. Credit Suisse Group initiated coverage on shares of Moody’s in a research note on Friday, May 29th. They issued an outperform rating and a $285.00 target price for the company. Wells Fargo & Co raised their target price on shares of Moody’s from $210.00 to $215.00 and gave the company an equal weight rating in a research note on Friday, May 1st. BMO Capital Markets increased their price target on shares of Moody’s from $285.00 to $298.00 and gave the company an outperform rating in a report on Monday, June 8th. Zacks Investment Research raised shares of Moody’s from a hold rating to a buy rating and set a $298.00 price target on the stock in a report on Tuesday, July 7th. Finally, Oppenheimer started coverage on shares of Moody’s in a report on Monday, May 18th. They issued an outperform rating and a $290.00 price target on the stock. Five investment analysts have rated the stock with a hold rating and nine have given a buy rating to the company’s stock. The stock presently has a consensus rating of Buy and an average target price of $281.23.

MCO opened at $292.92 on Wednesday. Moody’s has a 1 year low of $164.19 and a 1 year high of $296.66. The stock has a fifty day moving average price of $272.61 and a 200 day moving average price of $249.83. The company has a current ratio of 1.70, a quick ratio of 1.70 and a debt-to-equity ratio of 8.47. The stock has a market cap of $54.92 billion, a price-to-earnings ratio of 32.73, a PEG ratio of 3.47 and a beta of 1.19.

Moody’s (NYSE:MCO) last issued its quarterly earnings results on Thursday, April 30th. The business services provider reported $2.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.30 by $0.43. The firm had revenue of $1.29 billion for the quarter, compared to analyst estimates of $1.20 billion. Moody’s had a return on equity of 235.22% and a net margin of 30.88%. The company’s quarterly revenue was up 13.0% compared to the same quarter last year. During the same period in the previous year, the company posted $2.07 earnings per share. As a group, sell-side analysts forecast that Moody’s will post 8.6 earnings per share for the current fiscal year.

In other Moody’s news, insider Stephen T. Tulenko sold 2,000 shares of Moody’s stock in a transaction on Monday, May 11th. The shares were sold at an average price of $253.22, for a total value of $506,440.00. Following the completion of the sale, the insider now directly owns 11,544 shares of the company’s stock, valued at $2,923,171.68. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Raymond W. Mcdaniel sold 7,500 shares of Moody’s stock in a transaction on Wednesday, May 6th. The shares were sold at an average price of $245.64, for a total transaction of $1,842,300.00. Following the completion of the sale, the chief executive officer now directly owns 242,131 shares of the company’s stock, valued at $59,477,058.84. The disclosure for this sale can be found here. Insiders have sold 60,727 shares of company stock valued at $16,235,465 in the last three months. 0.79% of the stock is owned by insiders.

Several large investors have recently bought and sold shares of MCO. Carroll Financial Associates Inc. boosted its holdings in Moody’s by 205.3% during the second quarter. Carroll Financial Associates Inc. now owns 232 shares of the business services provider’s stock worth $63,000 after purchasing an additional 156 shares during the last quarter. Polianta Ltd purchased a new position in Moody’s during the second quarter worth about $961,000. Envestnet Asset Management Inc. boosted its holdings in Moody’s by 5.8% during the second quarter. Envestnet Asset Management Inc. now owns 63,201 shares of the business services provider’s stock worth $17,363,000 after purchasing an additional 3,440 shares during the last quarter. DNB Asset Management AS boosted its stake in Moody’s by 7.2% in the second quarter. DNB Asset Management AS now owns 18,933 shares of the business services provider’s stock valued at $5,201,000 after acquiring an additional 1,269 shares during the last quarter. Finally, Clarius Group LLC boosted its stake in Moody’s by 5.0% in the second quarter. Clarius Group LLC now owns 1,699 shares of the business services provider’s stock valued at $467,000 after acquiring an additional 81 shares during the last quarter. 90.31% of the stock is owned by institutional investors.

About Moody’s

Moody's Corporation provides credit ratings; and credit, capital markets, and economic research, data, and analytical tools worldwide. It operates through two segments, Moody's Investors Service and Moody's Analytics. The Moody's Investors Service segment publishes credit ratings on various debt obligations and entities that issue such obligations, such as various corporate and governmental obligations, structured finance securities, and commercial paper programs.

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