Moody’s (MCO) to Release Quarterly Earnings on Thursday

Moody’s (NYSE:MCO) is scheduled to be issuing its quarterly earnings data before the market opens on Thursday, May 2nd. Analysts expect the company to announce earnings of $2.94 per share for the quarter. Moody’s has set its FY24 guidance at $10.25-11.00 EPS and its FY 2024 guidance at 10.250-11.000 EPS.Parties interested in participating in the company’s conference call can do so using this link.

Moody’s (NYSE:MCO) last released its quarterly earnings results on Tuesday, February 13th. The business services provider reported $2.19 EPS for the quarter, missing the consensus estimate of $2.33 by ($0.14). The firm had revenue of $1.48 billion for the quarter, compared to the consensus estimate of $1.48 billion. Moody’s had a return on equity of 55.23% and a net margin of 27.16%. The firm’s revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.60 EPS. On average, analysts expect Moody’s to post $11 EPS for the current fiscal year and $12 EPS for the next fiscal year.

Moody’s Stock Down 0.4 %

Moody’s stock opened at $374.62 on Tuesday. The company has a 50-day simple moving average of $384.36 and a 200-day simple moving average of $372.43. The firm has a market capitalization of $68.37 billion, a P/E ratio of 42.91, a P/E/G ratio of 2.97 and a beta of 1.27. The company has a debt-to-equity ratio of 2.01, a quick ratio of 1.74 and a current ratio of 1.74. Moody’s has a one year low of $296.45 and a one year high of $407.62.

Moody’s Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, March 15th. Investors of record on Friday, February 23rd were given a $0.85 dividend. This represents a $3.40 dividend on an annualized basis and a yield of 0.91%. The ex-dividend date was Thursday, February 22nd. This is a positive change from Moody’s’s previous quarterly dividend of $0.77. Moody’s’s dividend payout ratio is currently 38.95%.

Analysts Set New Price Targets

MCO has been the subject of a number of recent analyst reports. UBS Group increased their target price on shares of Moody’s from $355.00 to $380.00 and gave the company a “neutral” rating in a research report on Wednesday, February 14th. JPMorgan Chase & Co. cut their price target on shares of Moody’s from $420.00 to $410.00 and set an “overweight” rating for the company in a report on Wednesday, February 14th. Barclays raised shares of Moody’s from an “equal weight” rating to an “overweight” rating and upped their price target for the company from $375.00 to $450.00 in a report on Tuesday, April 2nd. Wells Fargo & Company cut their price target on shares of Moody’s from $455.00 to $420.00 and set an “overweight” rating for the company in a report on Wednesday, February 14th. Finally, Royal Bank of Canada reissued an “outperform” rating and issued a $450.00 price target on shares of Moody’s in a report on Wednesday, February 14th. Four research analysts have rated the stock with a hold rating and ten have issued a buy rating to the company. According to data from MarketBeat, Moody’s has an average rating of “Moderate Buy” and a consensus target price of $397.75.

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.