Moody’s Co. (NYSE:MCO) announced a quarterly dividend on Thursday, July 30th, Zacks reports. Shareholders 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 yield of 0.80%. The ex-dividend date of this dividend is Wednesday, August 19th.
Moody’s has increased its dividend payment by an average of 35.1% per year over the last three years and has raised its dividend annually for the last 10 consecutive years. Moody’s has a dividend payout ratio of 27.3% indicating that its dividend is sufficiently covered by earnings. Research 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%.
Moody’s stock traded down $3.79 during midday trading on Friday, hitting $279.98. The company’s stock had a trading volume of 12,471 shares, compared to its average volume of 562,409. The company has a quick ratio of 1.70, a current ratio of 1.70 and a debt-to-equity ratio of 8.47. The stock’s 50-day moving average price is $281.32 and its 200-day moving average price is $254.91. Moody’s has a 12 month low of $164.19 and a 12 month high of $296.66. The company has a market capitalization of $52.55 billion, a PE ratio of 34.77, a price-to-earnings-growth ratio of 3.35 and a beta of 1.19.
Several equities research analysts have commented on the stock. Credit Suisse Group reiterated a “buy” rating and issued a $330.00 price target on shares of Moody’s in a research report on Tuesday. UBS Group boosted their price objective on Moody’s from $270.00 to $344.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Goldman Sachs Group boosted their price objective on Moody’s from $258.00 to $295.00 in a report on Wednesday, July 8th. Wells Fargo & Co boosted their price objective on Moody’s from $210.00 to $215.00 and gave the stock an “equal weight” rating in a report on Friday, May 1st. Finally, Morgan Stanley cut their price objective on Moody’s from $278.00 to $275.00 and set an “equal weight” rating on the stock in a report on Friday. Five investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. The stock currently has an average rating of “Buy” and a consensus target price of $285.77.
In other Moody’s news, CEO Raymond W. Mcdaniel sold 7,500 shares of Moody’s stock in a transaction dated Wednesday, May 6th. The stock was sold at an average price of $245.64, for a total transaction of $1,842,300.00. Following the transaction, the chief executive officer now owns 242,131 shares of the company’s stock, valued at approximately $59,477,058.84. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Stephen T. Tulenko sold 1,500 shares of Moody’s stock in a transaction dated Wednesday, July 8th. The shares were sold at an average price of $293.01, for a total value of $439,515.00. Following the transaction, the insider now directly owns 8,044 shares in the company, valued at approximately $2,356,972.44. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 60,727 shares of company stock worth $16,235,465. Company insiders own 0.79% of the company’s stock.
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.
Featured Article: What is a stock buyback?
Receive News & Ratings for Moody's Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Moody's and related companies with MarketBeat.com's FREE daily email newsletter.