Moody’s (MCO) Scheduled to Post Quarterly Earnings on Tuesday

Moody’s (NYSE:MCO) is set to issue its quarterly earnings data before the market opens on Tuesday, October 22nd. Analysts expect the company to announce earnings of $2.75 per share for the quarter. Moody’s has set its FY24 guidance at $11.00-11.40 EPS and its FY 2024 guidance at 11.000-11.400 EPS.Persons that wish to listen to the company’s earnings conference call can do so using this link.

Moody’s (NYSE:MCO) last posted its quarterly earnings results on Tuesday, July 23rd. The business services provider reported $3.28 earnings per share for the quarter, beating the consensus estimate of $3.06 by $0.22. The firm had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.72 billion. Moody’s had a return on equity of 57.03% and a net margin of 28.34%. Moody’s’s quarterly revenue was up 21.6% on a year-over-year basis. During the same period in the previous year, the firm earned $2.30 earnings per share. On average, analysts expect Moody’s to post $11 EPS for the current fiscal year and $13 EPS for the next fiscal year.

Moody’s Stock Up 0.5 %

NYSE:MCO opened at $488.46 on Monday. The firm has a market capitalization of $89.19 billion, a price-to-earnings ratio of 53.33, a PEG ratio of 3.10 and a beta of 1.29. Moody’s has a 1-year low of $298.86 and a 1-year high of $495.10. The company has a current ratio of 1.52, a quick ratio of 1.52 and a debt-to-equity ratio of 1.59. The business’s fifty day moving average price is $477.50 and its 200 day moving average price is $436.19.

Insider Transactions at Moody’s

In other news, insider Stephen T. Tulenko sold 569 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $444.26, for a total transaction of $252,783.94. Following the completion of the sale, the insider now owns 8,147 shares in the company, valued at approximately $3,619,386.22. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, insider Stephen T. Tulenko sold 569 shares of the company’s stock in a transaction dated Monday, August 5th. The stock was sold at an average price of $444.26, for a total transaction of $252,783.94. Following the completion of the sale, the insider now owns 8,147 shares in the company, valued at approximately $3,619,386.22. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, SVP Richard G. Steele sold 1,862 shares of the company’s stock in a transaction dated Thursday, August 8th. The stock was sold at an average price of $455.43, for a total value of $848,010.66. Following the sale, the senior vice president now owns 1,040 shares of the company’s stock, valued at approximately $473,647.20. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 2,931 shares of company stock worth $1,332,825. 0.07% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on MCO. Royal Bank of Canada upped their price target on Moody’s from $450.00 to $475.00 and gave the company an “outperform” rating in a research report on Wednesday, July 24th. Raymond James lowered Moody’s from a “market perform” rating to an “underperform” rating in a research report on Monday, September 23rd. Bank of America boosted their target price on Moody’s from $430.00 to $510.00 and gave the company a “buy” rating in a research note on Tuesday, July 16th. Morgan Stanley boosted their target price on Moody’s from $451.00 to $462.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 9th. Finally, The Goldman Sachs Group boosted their target price on Moody’s from $460.00 to $514.00 and gave the company a “neutral” rating in a research note on Tuesday, September 3rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and nine have given a buy rating to the stock. According to MarketBeat.com, Moody’s presently has a consensus rating of “Moderate Buy” and a consensus price target of $488.46.

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.