Moody’s (NYSE:MCO – Get Rating) was downgraded by stock analysts at Deutsche Bank Aktiengesellschaft from a “buy” rating to a “hold” rating in a report issued on Wednesday, The Fly reports. They currently have a $324.00 price target on the business services provider’s stock. Deutsche Bank Aktiengesellschaft’s price target suggests a potential upside of 4.34% from the stock’s previous close. The analysts noted that the move was a valuation call.
MCO has been the topic of several other reports. Royal Bank of Canada decreased their price objective on shares of Moody’s from $344.00 to $329.00 in a report on Tuesday, June 7th. BMO Capital Markets dropped their target price on shares of Moody’s from $331.00 to $309.00 in a research report on Thursday, June 2nd. Robert W. Baird lowered their price objective on shares of Moody’s from $363.00 to $342.00 in a research report on Tuesday, May 3rd. Morgan Stanley reduced their target price on shares of Moody’s from $298.00 to $283.00 and set an “equal weight” rating for the company in a research note on Wednesday, July 27th. Finally, Raymond James reduced their target price on shares of Moody’s from $364.00 to $327.00 and set an “outperform” rating for the company in a research note on Tuesday, July 12th. Seven research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $329.25.
Moody’s Trading Down 0.7 %
Shares of Moody’s stock opened at $310.52 on Wednesday. The firm has a 50-day simple moving average of $283.43 and a two-hundred day simple moving average of $307.97. The company has a market cap of $56.98 billion, a P/E ratio of 33.53, a price-to-earnings-growth ratio of 2.98 and a beta of 1.20. Moody’s has a fifty-two week low of $251.01 and a fifty-two week high of $407.94. The company has a debt-to-equity ratio of 2.89, a quick ratio of 1.39 and a current ratio of 1.39.
Moody’s (NYSE:MCO – Get Rating) last released its quarterly earnings results on Tuesday, July 26th. The business services provider reported $2.22 earnings per share for the quarter, missing the consensus estimate of $2.34 by ($0.12). Moody’s had a return on equity of 71.12% and a net margin of 28.92%. The company had revenue of $1.38 billion for the quarter, compared to analyst estimates of $1.43 billion. During the same quarter last year, the company earned $3.22 EPS. The firm’s revenue for the quarter was down 11.1% on a year-over-year basis. As a group, equities analysts predict that Moody’s will post 9.48 earnings per share for the current fiscal year.
Insider Buying and Selling at Moody’s
In related news, insider Michael L. West sold 780 shares of the business’s stock in a transaction that occurred on Wednesday, August 3rd. The stock was sold at an average price of $310.53, for a total transaction of $242,213.40. Following the transaction, the insider now directly owns 8,330 shares of the company’s stock, valued at approximately $2,586,714.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Moody’s news, insider Michael L. West sold 780 shares of the stock in a transaction dated Wednesday, August 3rd. The stock was sold at an average price of $310.53, for a total value of $242,213.40. Following the completion of the transaction, the insider now directly owns 8,330 shares in the company, valued at $2,586,714.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, SVP Caroline Sullivan sold 326 shares of the stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $310.68, for a total value of $101,281.68. Following the completion of the sale, the senior vice president now directly owns 1,806 shares of the company’s stock, valued at approximately $561,088.08. The disclosure for this sale can be found here. Company insiders own 0.38% of the company’s stock.
Institutional Investors Weigh In On Moody’s
A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of Moody’s by 0.7% during the 1st quarter. Vanguard Group Inc. now owns 13,611,470 shares of the business services provider’s stock worth $4,592,646,000 after acquiring an additional 90,333 shares during the period. BlackRock Inc. grew its position in shares of Moody’s by 4.7% during the first quarter. BlackRock Inc. now owns 12,374,168 shares of the business services provider’s stock valued at $4,175,168,000 after purchasing an additional 555,419 shares in the last quarter. State Street Corp grew its position in Moody’s by 3.1% in the fourth quarter. State Street Corp now owns 7,416,456 shares of the business services provider’s stock worth $2,896,719,000 after acquiring an additional 222,009 shares in the last quarter. TCI Fund Management Ltd. lifted its stake in Moody’s by 11.0% in the first quarter. TCI Fund Management Ltd. now owns 7,285,832 shares of the business services provider’s stock worth $2,458,313,000 after purchasing an additional 723,042 shares during the last quarter. Finally, Akre Capital Management LLC raised its stake in shares of Moody’s by 0.7% during the first quarter. Akre Capital Management LLC now owns 5,659,712 shares of the business services provider’s stock valued at $1,909,643,000 after acquiring an additional 38,615 shares in the last quarter. Institutional investors own 91.43% of the company’s stock.
Moody’s Company Profile
Moody’s Corporation operates as an integrated risk assessment firm worldwide. It operates in two segments, Moody’s Investors Service and Moody’s Analytics. The Moody’s Investors Service segment publishes credit ratings and provides assessment services on various debt obligations, programs and facilities, and entities that issue such obligations, such as various corporate, financial institution, and governmental obligations, as well as and structured finance securities.