Moody’s (NYSE:MCO) Issues FY 2024 Earnings Guidance

Moody’s (NYSE:MCO) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 11.900-12.100 for the period, compared to the consensus earnings per share estimate of 11.680. The company issued revenue guidance of -. Moody’s also updated its FY24 guidance to $11.90-12.10 EPS.

Moody’s Stock Performance

MCO opened at $467.69 on Wednesday. Moody’s has a 12-month low of $298.86 and a 12-month high of $495.10. The firm has a market capitalization of $85.40 billion, a P/E ratio of 51.06, a price-to-earnings-growth ratio of 3.10 and a beta of 1.29. The stock’s 50 day moving average price is $478.09 and its two-hundred day moving average price is $437.39. The company has a quick ratio of 1.52, a current ratio of 1.52 and a debt-to-equity ratio of 1.59.

Moody’s (NYSE:MCO) last posted its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $3.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.89 by $0.32. Moody’s had a net margin of 28.34% and a return on equity of 57.03%. The company had revenue of $1.81 billion for the quarter, compared to analyst estimates of $1.71 billion. During the same period last year, the business posted $2.43 EPS. The business’s quarterly revenue was up 23.2% on a year-over-year basis. On average, equities analysts forecast that Moody’s will post 11.46 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Morgan Stanley increased their price target on shares of Moody’s from $451.00 to $462.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 9th. Raymond James lowered Moody’s from a “market perform” rating to an “underperform” rating in a research report on Monday, September 23rd. Wells Fargo & Company raised their price objective on shares of Moody’s from $510.00 to $550.00 and gave the company an “overweight” rating in a research report on Wednesday, October 9th. StockNews.com raised Moody’s from a “hold” rating to a “buy” rating in a research note on Wednesday, October 9th. Finally, Evercore ISI initiated coverage on shares of Moody’s in a research report on Wednesday, October 2nd. They set an “outperform” rating and a $521.00 price target for the company. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $496.54.

Insider Buying and Selling at Moody’s

In other news, insider Stephen T. Tulenko sold 500 shares of the company’s stock in a transaction that occurred on Friday, August 9th. The stock was sold at an average price of $464.06, for a total transaction of $232,030.00. Following the sale, the insider now owns 6,647 shares in the company, valued at $3,084,606.82. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, SVP Richard G. Steele sold 1,862 shares of the business’s stock in a transaction dated Thursday, August 8th. The shares were sold at an average price of $455.43, for a total transaction of $848,010.66. Following the transaction, the senior vice president now directly owns 1,040 shares in the company, valued at $473,647.20. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Stephen T. Tulenko sold 500 shares of the firm’s stock in a transaction dated Friday, August 9th. The shares were sold at an average price of $464.06, for a total transaction of $232,030.00. Following the completion of the sale, the insider now owns 6,647 shares of the company’s stock, valued at $3,084,606.82. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 2,931 shares of company stock worth $1,332,825 over the last ninety days. 0.07% of the stock is currently owned by corporate insiders.

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.