Moody’s Corporation (NYSE:MCO) announced a quarterly dividend on Tuesday, October 24th, RTT News reports. Shareholders of record on Tuesday, November 21st will be paid a dividend of 0.38 per share by the business services provider on Tuesday, December 12th. This represents a $1.52 dividend on an annualized basis and a dividend yield of 1.06%. The ex-dividend date of this dividend is Monday, November 20th.
Moody’s Corporation has raised its dividend payment by an average of 18.0% per year over the last three years and has increased its dividend annually for the last 7 consecutive years. Moody’s Corporation has a dividend payout ratio of 25.6% meaning its dividend is sufficiently covered by earnings. Equities analysts expect Moody’s Corporation to earn $6.51 per share next year, which means the company should continue to be able to cover its $1.52 annual dividend with an expected future payout ratio of 23.3%.
Shares of Moody’s Corporation (MCO) opened at $143.14 on Wednesday. The company has a quick ratio of 1.15, a current ratio of 1.15 and a debt-to-equity ratio of -32.57. Moody’s Corporation has a 52-week low of $93.51 and a 52-week high of $148.00. The company has a market capitalization of $27,164.87, a P/E ratio of 24.81, a price-to-earnings-growth ratio of 2.52 and a beta of 1.35.
Moody’s Corporation (NYSE:MCO) last issued its earnings results on Friday, November 3rd. The business services provider reported $1.52 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $1.37 by $0.15. Moody’s Corporation had a negative return on equity of 187.20% and a net margin of 13.73%. The business had revenue of $1.06 billion during the quarter, compared to analysts’ expectations of $992.81 million. During the same period in the prior year, the firm posted $1.34 EPS. Moody’s Corporation’s quarterly revenue was up 15.9% compared to the same quarter last year. sell-side analysts expect that Moody’s Corporation will post 5.94 earnings per share for the current fiscal year.
In related news, insider Raymond W. Mcdaniel sold 45,216 shares of the firm’s stock in a transaction on Thursday, September 7th. The stock was sold at an average price of $134.16, for a total transaction of $6,066,178.56. Following the completion of the sale, the insider now directly owns 292,310 shares of the company’s stock, valued at approximately $39,216,309.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Darrell Duffie sold 500 shares of the firm’s stock in a transaction on Friday, September 29th. The shares were sold at an average price of $138.41, for a total value of $69,205.00. Following the sale, the director now directly owns 21,804 shares of the company’s stock, valued at $3,017,891.64. The disclosure for this sale can be found here. Company insiders own 1.17% of the company’s stock.
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A number of equities analysts have recently issued reports on MCO shares. Cantor Fitzgerald reissued a “neutral” rating and issued a $128.00 target price (up from $116.00) on shares of Moody’s Corporation in a report on Monday, July 24th. Barclays PLC reissued an “equal weight” rating and issued a $135.00 target price (up from $128.00) on shares of Moody’s Corporation in a report on Monday, July 24th. Morgan Stanley reissued an “equal weight” rating and issued a $131.00 target price (up from $122.00) on shares of Moody’s Corporation in a report on Tuesday, July 25th. UBS AG reissued a “neutral” rating and issued a $138.00 target price (up from $121.00) on shares of Moody’s Corporation in a report on Tuesday, July 25th. Finally, Zacks Investment Research cut Moody’s Corporation from a “buy” rating to a “hold” rating in a report on Wednesday, August 16th. Seven research analysts have rated the stock with a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Moody’s Corporation currently has a consensus rating of “Hold” and an average price target of $150.22.
About Moody’s Corporation
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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