Moody’s (NYSE:MCO) Updates FY24 Earnings Guidance

Moody’s (NYSE:MCO) issued an update on its FY24 earnings guidance on Tuesday morning. The company provided EPS guidance of $11.90-12.10 for the period, compared to the consensus EPS estimate of $11.68. Moody’s also updated its FY 2024 guidance to 11.900-12.100 EPS.

Moody’s Stock Down 3.8 %

NYSE:MCO opened at $468.44 on Tuesday. The company has a debt-to-equity ratio of 1.59, a current ratio of 1.52 and a quick ratio of 1.52. Moody’s has a 1-year low of $298.86 and a 1-year high of $495.10. The company has a 50-day moving average of $478.03 and a 200 day moving average of $436.86. The firm has a market cap of $85.54 billion, a PE ratio of 53.16, a price-to-earnings-growth ratio of 3.10 and a beta of 1.29.

Moody’s (NYSE:MCO) last announced its quarterly earnings results on Tuesday, October 22nd. The business services provider reported $3.21 earnings per share for the quarter, topping the consensus estimate of $2.75 by $0.46. The firm had revenue of $1.81 billion during the quarter, compared to analysts’ expectations of $1.71 billion. Moody’s had a net margin of 28.34% and a return on equity of 57.03%. The company’s revenue was up 23.2% compared to the same quarter last year. During the same quarter in the prior year, the company earned $2.43 EPS. As a group, research analysts anticipate that Moody’s will post 11.46 EPS for the current fiscal year.

Wall Street Analyst Weigh In

MCO has been the topic of several analyst reports. Evercore ISI initiated coverage on Moody’s in a research note on Wednesday, October 2nd. They issued an “outperform” rating and a $521.00 target price on the stock. The Goldman Sachs Group lifted their price objective on shares of Moody’s from $460.00 to $514.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 3rd. Raymond James cut shares of Moody’s from a “market perform” rating to an “underperform” rating in a research report on Monday, September 23rd. BMO Capital Markets lifted their price target on shares of Moody’s from $455.00 to $464.00 and gave the stock a “market perform” rating in a report on Tuesday, October 15th. Finally, Royal Bank of Canada upped their price target on Moody’s from $450.00 to $475.00 and gave the stock an “outperform” rating in a research report on Wednesday, July 24th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $488.46.

Insider Activity at Moody’s

In other Moody’s news, insider Stephen T. Tulenko sold 569 shares of the firm’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $444.26, for a total transaction of $252,783.94. Following the completion of the transaction, the insider now directly owns 8,147 shares of the company’s stock, valued at approximately $3,619,386.22. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Moody’s news, insider Stephen T. Tulenko sold 500 shares of the stock in a transaction dated 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 directly owns 6,647 shares of the company’s stock, valued at approximately $3,084,606.82. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Stephen T. Tulenko sold 569 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $444.26, for a total value of $252,783.94. Following the completion of the transaction, the insider now directly owns 8,147 shares of the company’s stock, valued at approximately $3,619,386.22. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 2,931 shares of company stock worth $1,332,825 over the last quarter. Insiders own 0.07% of the company’s stock.

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.