Moody's (NYSE:MCO) Releases FY 2024 Earnings Guidance

Moody's (NYSE:MCO - Get Free Report) updated its FY 2024 earnings guidance on Friday. The company provided EPS guidance of 10.400-11.000 for the period, compared to the consensus EPS estimate of 10.710. The company issued revenue guidance of -.

Moody's Stock Up 1.1 %

Shares of MCO traded up $4.16 during midday trading on Friday, hitting $380.56. The company had a trading volume of 784,857 shares, compared to its average volume of 736,418. Moody's has a 1 year low of $296.45 and a 1 year high of $407.62. The firm has a market capitalization of $69.45 billion, a P/E ratio of 43.59, a P/E/G ratio of 2.94 and a beta of 1.26. The company has a debt-to-equity ratio of 2.01, a quick ratio of 1.74 and a current ratio of 1.74. The company's 50-day simple moving average is $384.07 and its 200-day simple moving average is $372.82.

Moody's (NYSE:MCO - Get Free Report) last issued its earnings results on Thursday, May 2nd. The business services provider reported $3.37 EPS for the quarter, topping analysts' consensus estimates of $3.06 by $0.31. The firm had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.70 billion. Moody's had a net margin of 27.16% and a return on equity of 55.23%. The company's revenue was up 21.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.99 earnings per share. As a group, sell-side analysts expect that Moody's will post 10.77 EPS for the current year.

Moody's Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, June 7th. Shareholders of record on Friday, May 17th will be issued a dividend of $0.85 per share. This represents a $3.40 annualized dividend and a dividend yield of 0.89%. The ex-dividend date is Thursday, May 16th. Moody's's payout ratio is 38.95%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. UBS Group upped their target price on Moody's from $355.00 to $380.00 and gave the company a neutral rating in a research report on Wednesday, February 14th. Wells Fargo & Company lowered their target price on shares of Moody's from $455.00 to $420.00 and set an overweight rating on the stock in a research report on Wednesday, February 14th. JPMorgan Chase & Co. reduced their price target on shares of Moody's from $420.00 to $410.00 and set an overweight rating for the company in a research report on Wednesday, February 14th. Barclays raised shares of Moody's from an equal weight rating to an overweight rating and raised their price objective for the stock from $375.00 to $450.00 in a research report on Tuesday, April 2nd. Finally, Robert W. Baird lifted their price objective on shares of Moody's from $405.00 to $414.00 and gave the company an outperform rating in a research note on Friday. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average price target of $398.50.

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.