Moody’s Corporation (MCO) Expected to Post Quarterly Sales of $973.10 Million

Equities research analysts predict that Moody’s Corporation (NYSE:MCO) will post $973.10 million in sales for the current quarter, according to Zacks Investment Research. Three analysts have provided estimates for Moody’s Corporation’s earnings, with the lowest sales estimate coming in at $940.20 million and the highest estimate coming in at $1.01 billion. Moody’s Corporation posted sales of $917.10 million during the same quarter last year, which would indicate a positive year-over-year growth rate of 6.1%. The company is scheduled to announce its next quarterly earnings results before the market opens on Friday, November 3rd.

On average, analysts expect that Moody’s Corporation will report full year sales of $973.10 million for the current year, with estimates ranging from $3.91 billion to $4.06 billion. For the next financial year, analysts anticipate that the company will report sales of $4.43 billion per share, with estimates ranging from $4.41 billion to $4.46 billion. Zacks’ sales calculations are a mean average based on a survey of sell-side analysts that follow Moody’s Corporation.

Moody’s Corporation (NYSE:MCO) last posted its quarterly earnings results on Friday, July 21st. The business services provider reported $1.51 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.33 by $0.18. Moody’s Corporation had a negative return on equity of 167.31% and a net margin of 12.63%. The company had revenue of $1 billion during the quarter, compared to the consensus estimate of $968.78 million. During the same period last year, the business earned $1.30 EPS. The business’s quarterly revenue was up 7.7% on a year-over-year basis.

MCO has been the topic of a number of research reports. Credit Suisse Group restated a “neutral” rating and issued a $137.00 price target (up from $131.00) on shares of Moody’s Corporation in a report on Wednesday, August 30th. They noted that the move was a valuation call. BMO Capital Markets restated a “market perform” rating and issued a $136.00 price target (up from $135.00) on shares of Moody’s Corporation in a report on Wednesday, September 6th. Barclays PLC boosted their price target on Moody’s Corporation from $135.00 to $150.00 and gave the company an “equal weight” rating in a report on Friday, September 15th. Morgan Stanley restated an “equal weight” rating and issued a $131.00 price target (up from $122.00) on shares of Moody’s Corporation in a report on Tuesday, July 25th. Finally, UBS AG restated a “neutral” rating and issued a $138.00 price target (up from $121.00) on shares of Moody’s Corporation in a report on Tuesday, July 25th. Seven equities research analysts have rated the stock with a hold rating, one has assigned a buy rating and one has assigned a strong buy rating to the company’s stock. Moody’s Corporation presently has an average rating of “Hold” and a consensus target price of $141.50.

Shares of Moody’s Corporation (MCO) opened at 144.19 on Friday. The stock’s 50 day moving average price is $138.93 and its 200-day moving average price is $126.10. Moody’s Corporation has a 1-year low of $93.51 and a 1-year high of $145.83. The stock has a market capitalization of $27.55 billion, a P/E ratio of 57.93 and a beta of 1.28.

TRADEMARK VIOLATION WARNING: This report was first published by Dispatch Tribunal and is owned by of Dispatch Tribunal. If you are reading this report on another website, it was illegally stolen and reposted in violation of United States and international trademark and copyright laws. The legal version of this report can be read at https://www.dispatchtribunal.com/2017/10/29/moodys-corporation-mco-expected-to-post-quarterly-sales-of-973-10-million.html.

In related news, Director Darrell Duffie sold 500 shares of the company’s stock in a transaction dated Friday, September 29th. The stock was sold at an average price of $138.41, for a total transaction of $69,205.00. Following the sale, the director now owns 21,804 shares in the company, valued at $3,017,891.64. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Raymond W. Mcdaniel sold 45,216 shares of the company’s stock in a transaction dated Monday, August 7th. The stock was sold at an average price of $129.03, for a total value of $5,834,220.48. Following the sale, the insider now owns 292,310 shares in the company, valued at approximately $37,716,759.30. The disclosure for this sale can be found here. Insiders have sold 90,932 shares of company stock worth $11,969,604 in the last quarter. 1.17% of the stock is currently owned by corporate insiders.

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Vanguard Group Inc. raised its holdings in Moody’s Corporation by 2.9% during the second quarter. Vanguard Group Inc. now owns 16,203,350 shares of the business services provider’s stock worth $1,971,623,000 after acquiring an additional 463,669 shares in the last quarter. Allen Investment Management LLC raised its holdings in Moody’s Corporation by 11.3% during the first quarter. Allen Investment Management LLC now owns 788,544 shares of the business services provider’s stock worth $88,348,000 after acquiring an additional 80,012 shares in the last quarter. State Treasurer State of Michigan raised its holdings in Moody’s Corporation by 4.2% during the second quarter. State Treasurer State of Michigan now owns 159,015 shares of the business services provider’s stock worth $19,349,000 after acquiring an additional 6,400 shares in the last quarter. Fiera Capital Corp raised its holdings in Moody’s Corporation by 17.8% during the second quarter. Fiera Capital Corp now owns 5,793,968 shares of the business services provider’s stock worth $705,010,000 after acquiring an additional 876,210 shares in the last quarter. Finally, Schwab Charles Investment Management Inc. raised its holdings in Moody’s Corporation by 6.4% during the first quarter. Schwab Charles Investment Management Inc. now owns 523,807 shares of the business services provider’s stock worth $58,688,000 after acquiring an additional 31,365 shares in the last quarter. Institutional investors and hedge funds own 88.76% of the company’s stock.

About Moody’s Corporation

Moody’s Corporation (Moody’s) is a provider of credit ratings; credit, capital markets and economic related research, data and analytical tools; software solutions and related risk management services, quantitative credit risk measures, financial services training and certification services, and research and analytical services to financial institution customers.

Get a free copy of the Zacks research report on Moody’s Corporation (MCO)

For more information about research offerings from Zacks Investment Research, visit Zacks.com

Receive News & Ratings for Moody's Corporation Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Moody's Corporation and related companies with MarketBeat.com's FREE daily email newsletter.

Leave a Reply