Moody’s Co. (NYSE:MCO) announced a quarterly dividend on Thursday, July 30th, Zacks reports. Stockholders of record on Thursday, August 20th will be paid a dividend of 0.56 per share by the business services provider on Thursday, September 10th. This represents a $2.24 annualized dividend and a dividend yield of 0.80%. The ex-dividend date is Wednesday, August 19th.
Moody’s has raised its dividend payment by an average of 35.1% annually over the last three years and has increased its dividend annually for the last 10 consecutive years. Moody’s has a payout ratio of 27.3% indicating that its dividend is sufficiently covered by earnings. Analysts expect Moody’s to earn $9.46 per share next year, which means the company should continue to be able to cover its $2.24 annual dividend with an expected future payout ratio of 23.7%.
NYSE MCO opened at $281.30 on Friday. The business has a 50 day simple moving average of $281.46 and a 200 day simple moving average of $255.09. Moody’s has a one year low of $164.19 and a one year high of $296.66. The stock has a market capitalization of $53.21 billion, a P/E ratio of 34.90, a P/E/G ratio of 3.17 and a beta of 1.19. The company has a debt-to-equity ratio of 9.17, a current ratio of 2.10 and a quick ratio of 1.70.
Moody’s (NYSE:MCO) last released its earnings results on Thursday, July 30th. The business services provider reported $2.81 EPS for the quarter, topping the consensus estimate of $2.26 by $0.55. Moody’s had a return on equity of 204.46% and a net margin of 33.38%. The business had revenue of $1.44 billion during the quarter, compared to analysts’ expectations of $1.23 billion. During the same quarter last year, the firm posted $2.07 earnings per share. The firm’s revenue was up 18.2% on a year-over-year basis. Equities analysts expect that Moody’s will post 8.95 earnings per share for the current year.
In related news, insider Stephen T. Tulenko sold 1,500 shares of Moody’s stock in a transaction on Wednesday, July 8th. The stock was sold at an average price of $293.01, for a total transaction of $439,515.00. Following the sale, the insider now directly owns 8,044 shares in the company, valued at $2,356,972.44. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP John J. Goggins sold 17,927 shares of the firm’s stock in a transaction on Thursday, May 14th. The stock was sold at an average price of $251.94, for a total value of $4,516,528.38. Following the completion of the sale, the executive vice president now directly owns 63,718 shares of the company’s stock, valued at $16,053,112.92. The disclosure for this sale can be found here. Insiders have sold 60,727 shares of company stock worth $16,235,465 over the last quarter. 0.79% of the stock is currently owned by corporate insiders.
Several research analysts have issued reports on the company. Credit Suisse Group reiterated a “buy” rating and issued a $330.00 price target on shares of Moody’s in a report on Tuesday. Oppenheimer assumed coverage on Moody’s in a report on Monday, May 18th. They issued an “outperform” rating and a $290.00 price target on the stock. Wells Fargo & Co increased their price target on Moody’s from $210.00 to $215.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. BMO Capital Markets increased their price target on Moody’s from $285.00 to $298.00 and gave the stock an “outperform” rating in a report on Monday, June 8th. Finally, UBS Group raised their target price on Moody’s from $344.00 to $358.00 and gave the company a “buy” rating in a report on Friday. Five equities research analysts have rated the stock with a hold rating and nine have given a buy rating to the stock. The company currently has a consensus rating of “Buy” and an average target price of $286.85.
Moody’s Company Profile
Moody's Corporation provides credit ratings; and credit, capital markets, and economic research, data, and analytical tools worldwide. It operates through two segments, Moody's Investors Service and Moody's Analytics. The Moody's Investors Service segment publishes credit ratings on various debt obligations and entities that issue such obligations, such as various corporate and governmental obligations, structured finance securities, and commercial paper programs.
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