Moody’s (NYSE:MCO) Sets New 52-Week High After Better-Than-Expected Earnings

Moody’s Co. (NYSE:MCO)’s share price reached a new 52-week high on Thursday after the company announced better than expected quarterly earnings. The company traded as high as $520.00 and last traded at $510.52, with a volume of 9931 shares trading hands. The stock had previously closed at $505.44.

The business services provider reported $2.62 EPS for the quarter, beating the consensus estimate of $2.27 by $0.35. Moody’s had a return on equity of 57.97% and a net margin of 29.05%.

Moody’s Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Friday, March 14th. Shareholders of record on Tuesday, February 25th will be issued a $0.94 dividend. This represents a $3.76 dividend on an annualized basis and a yield of 0.72%. The ex-dividend date is Tuesday, February 25th. This is a boost from Moody’s’s previous quarterly dividend of $0.85. Moody’s’s dividend payout ratio is currently 31.05%.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on MCO. BMO Capital Markets lifted their price objective on shares of Moody’s from $468.00 to $481.00 and gave the company a “market perform” rating in a research note on Tuesday, January 21st. Citigroup started coverage on shares of Moody’s in a research report on Friday, December 20th. They issued a “buy” rating and a $565.00 price objective for the company. StockNews.com raised Moody’s from a “hold” rating to a “buy” rating in a research report on Tuesday, December 24th. Oppenheimer boosted their price target on Moody’s from $543.00 to $545.00 and gave the stock an “outperform” rating in a research note on Friday, January 3rd. Finally, Morgan Stanley raised their price objective on Moody’s from $481.00 to $508.00 and gave the company an “equal weight” rating in a research note on Friday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and ten have assigned a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $522.62.

Insider Buying and Selling

In related news, CEO Robert Fauber sold 281 shares of the stock in a transaction dated Wednesday, January 15th. The shares were sold at an average price of $473.62, for a total transaction of $133,087.22. Following the sale, the chief executive officer now owns 61,894 shares in the company, valued at $29,314,236.28. This represents a 0.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders have sold 843 shares of company stock worth $405,455 over the last ninety days. 0.07% of the stock is owned by insiders.

Institutional Investors Weigh In On Moody’s

Several large investors have recently added to or reduced their stakes in the stock. Planning Capital Management Corp increased its holdings in shares of Moody’s by 566.7% in the 3rd quarter. Planning Capital Management Corp now owns 60 shares of the business services provider’s stock worth $29,000 after acquiring an additional 51 shares during the period. Larson Financial Group LLC boosted its position in shares of Moody’s by 272.2% during the third quarter. Larson Financial Group LLC now owns 67 shares of the business services provider’s stock worth $32,000 after buying an additional 49 shares during the period. Catalyst Capital Advisors LLC bought a new position in Moody’s in the 3rd quarter worth approximately $36,000. Asset Dedication LLC increased its position in Moody’s by 83.0% in the 3rd quarter. Asset Dedication LLC now owns 86 shares of the business services provider’s stock valued at $41,000 after acquiring an additional 39 shares during the period. Finally, Asset Planning Inc bought a new stake in Moody’s during the 4th quarter valued at $42,000. 92.11% of the stock is owned by institutional investors and hedge funds.

Moody’s Stock Performance

The company has a market cap of $94.72 billion, a P/E ratio of 47.74, a PEG ratio of 2.93 and a beta of 1.31. The company has a quick ratio of 1.67, a current ratio of 1.67 and a debt-to-equity ratio of 1.69. The company has a 50 day moving average price of $484.38 and a 200-day moving average price of $478.15.

Moody’s Company Profile

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.