Moody’s (NYSE:MCO – Get Free Report) updated its FY 2024 earnings guidance on Tuesday. The company provided earnings per share guidance of 11.000-11.400 for the period, compared to the consensus earnings per share estimate of 11.020. The company issued revenue guidance of -. Moody’s also updated its FY24 guidance to $11.00-11.40 EPS.
Analysts Set New Price Targets
Several research firms have commented on MCO. Stifel Nicolaus increased their price objective on shares of Moody’s from $443.00 to $454.00 and gave the company a hold rating in a report on Wednesday. Oppenheimer increased their price target on shares of Moody’s from $454.00 to $492.00 and gave the company an outperform rating in a report on Wednesday. Bank of America increased their price target on shares of Moody’s from $430.00 to $510.00 and gave the company a buy rating in a report on Tuesday, July 16th. UBS Group increased their price target on shares of Moody’s from $455.00 to $470.00 and gave the company a neutral rating in a report on Wednesday. Finally, Barclays increased their price target on shares of Moody’s from $450.00 to $500.00 and gave the company an overweight rating in a report on Wednesday. Four research analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, Moody’s currently has an average rating of Moderate Buy and an average target price of $448.50.
Check Out Our Latest Stock Report on MCO
Moody’s Trading Up 2.1 %
Moody’s (NYSE:MCO – Get Free Report) last issued its earnings results on Tuesday, July 23rd. The business services provider reported $3.28 EPS for the quarter, topping analysts’ consensus estimates of $3.06 by $0.22. The business had revenue of $1.82 billion for the quarter, compared to analyst estimates of $1.72 billion. Moody’s had a net margin of 28.34% and a return on equity of 58.72%. The company’s quarterly revenue was up 21.6% compared to the same quarter last year. During the same period last year, the company posted $2.30 earnings per share. On average, research analysts anticipate that Moody’s will post 11.12 EPS for the current year.
Moody’s Dividend Announcement
The company also recently announced a quarterly dividend, which will be paid on Friday, September 6th. Shareholders of record on Friday, August 16th will be paid a $0.85 dividend. The ex-dividend date is Friday, August 16th. This represents a $3.40 annualized dividend and a yield of 0.77%. Moody’s’s dividend payout ratio (DPR) is 37.12%.
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.
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