Moodys Corporation (NYSE: MCO) was upgraded by Zacks from a “neutral” rating to an “outperform” rating in a report issued on Monday. The firm currently has a $61.00 target price on the stock.
Zacks‘ analyst wrote, “Moody’s continues to impress with its solid execution and consistent earnings growth. The company ended 2012 on a strong note, as both revenues and earnings jumped approximately 20% each and margin expanded 50 basis points despite higher operating expense. The company provided positive overall guidance primarily reflecting strong quarterly results and improving U.S. corporate finance market. We believe that Moody’s remains a solid franchise in rating debt instruments based on its diversified credit research business model and international growth opportunities. Moreover, strength in new domestic debt issuance and improving clarity over regulatory climate are positives. Additionally, improving liquidity, higher dividend payout and continuing share buybacks are the other positives. We upgrade Moody’s to Outperform and set a price target of $61.00.”
Shares of Moodys Corporation traded up 0.59% during mid-day trading on Monday, hitting $51.25. Moodys Corporation has a one year low of $33.86 and a one year high of $55.58. The stock’s 50-day moving average is currently $49.70. The company has a market cap of $11.460 billion and a P/E ratio of 16.70.
Moodys Corporation last released its earnings data on Friday, February 8th. The company reported $0.70 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.69 by $0.01. The company had revenue of $754.20 million for the quarter, compared to the consensus estimate of $683.34 million. During the same quarter in the prior year, the company posted $0.43 earnings per share. The company’s quarterly revenue was up 33.0% on a year-over-year basis. Moodys Corporation has set its FY13 guidance at $3.45-3.55 EPS. Analysts expect that Moodys Corporation will post $3.50 EPS for the current fiscal year.
Several other analysts have also recently commented on the stock. Analysts at Piper Jaffray reiterated an “overweight” rating on shares of Moodys Corporation in a research note to investors on Wednesday, March 6th. They now have a $59.00 price target on the stock. Separately, analysts at BTIG Research reiterated a “sell” rating on shares of Moodys Corporation in a research note to investors on Wednesday, February 13th. They now have a $28.00 price target on the stock. Finally, analysts at Benchmark Co. cut their price target on shares of Moodys Corporation from $58.00 to $55.00 in a research note to investors on Tuesday, February 12th. They now have a “buy” rating on the stock.
Four equities research analysts have rated the stock with a buy rating, three have assigned a hold rating, and one has assigned a sell rating to the stock. Moodys Corporation has an average rating of “overweight” and a consensus price target of $50.88.
Moody’s Corporation (Moody’s) is a provider of credit ratings; credit and economic related research, data and analytical tools; risk management software, and quantitative credit risk measures, credit portfolio management solutions and training services.
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