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Moody's (MCO) Beats on Q1 Earnings & Revenue Estimates
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Have you been eager to see how Moody's Corporation (MCO - Free Report) , performed in Q1 in comparison with the market expectations? Let’s quickly scan through the key facts from this NY-based credit rating giant’s earnings release this morning:
An Earnings Beat
Moody’s recorded adjusted earnings of $1.47 per share, which surpassed the Zacks Consensus Estimate of $1.23.
Results were primarily aided by a rise in revenues.
How Was the Estimate Revision Trend?
You should note that the earnings estimate for Moody’s depicted bullish stance prior to the earnings release. The Zacks Consensus Estimate rose 5.1% at $1.23 over the last 30 days.
Further, Moody’s has a decent earnings surprise history.
Overall, the company surpassed the Zacks Consensus Estimate by an average of 3.6% in the trailing four quarters.
Revenue Came in Higher than Expected
Moody’s reported revenues of $975.2 million, beating Zacks Consensus Estimate of $911.1 million. Also, revenues grew 19% year over year.
Key Takeaways
After considering non-cash, non-taxable gain from a strategic realignment and expansion involving Moody’s China affiliate China Cheng Xin International Credit Rating Co. Ltd., Moody’s recorded net income of $345.6 million or $1.78 per share.
As of Mar 31, 2017, Moody’s had total cash, cash equivalents and short-term investments of $2.3 billion.
In the reported quarter, Moody’s returned $127.6 million to shareholders.
The company projects 2017 adjusted earnings in the range of $5.15–$5.30 per share.
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #2 (Buy) for Moody’s. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. Now it all depends on what sense the just-released report makes to the analysts.
Check back later for our full write up on this Moody’s earnings report!
Zacks' 2017 IPO Watch List
Before looking into the stocks mentioned above, you may want to get a head start on potential tech IPOs that are popping up on Zacks' radar. Imagine being in the first wave of investors to jump on a company with almost unlimited growth potential? This Special Report gives you the current scoop on 5 that may go public at any time.
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Moody's (MCO) Beats on Q1 Earnings & Revenue Estimates
Have you been eager to see how Moody's Corporation (MCO - Free Report) , performed in Q1 in comparison with the market expectations? Let’s quickly scan through the key facts from this NY-based credit rating giant’s earnings release this morning:
An Earnings Beat
Moody’s recorded adjusted earnings of $1.47 per share, which surpassed the Zacks Consensus Estimate of $1.23.
Results were primarily aided by a rise in revenues.
How Was the Estimate Revision Trend?
You should note that the earnings estimate for Moody’s depicted bullish stance prior to the earnings release. The Zacks Consensus Estimate rose 5.1% at $1.23 over the last 30 days.
Further, Moody’s has a decent earnings surprise history.
Moody's Corporation Price and EPS Surprise
Moody's Corporation Price and EPS Surprise | Moody's Corporation Quote
Overall, the company surpassed the Zacks Consensus Estimate by an average of 3.6% in the trailing four quarters.
Revenue Came in Higher than Expected
Moody’s reported revenues of $975.2 million, beating Zacks Consensus Estimate of $911.1 million. Also, revenues grew 19% year over year.
Key Takeaways
After considering non-cash, non-taxable gain from a strategic realignment and expansion involving Moody’s China affiliate China Cheng Xin International Credit Rating Co. Ltd., Moody’s recorded net income of $345.6 million or $1.78 per share.
As of Mar 31, 2017, Moody’s had total cash, cash equivalents and short-term investments of $2.3 billion.
In the reported quarter, Moody’s returned $127.6 million to shareholders.
The company projects 2017 adjusted earnings in the range of $5.15–$5.30 per share.
What Zacks Rank Says
The estimate revisions that we discussed earlier have driven a Zacks Rank #2 (Buy) for Moody’s. However, since the latest earnings performance is yet to be reflected in the estimate revisions, the rank is subject to change. Now it all depends on what sense the just-released report makes to the analysts.
You can see the complete list of today’s Zacks #1 Rank (Strong Buy) stocks here.
Check back later for our full write up on this Moody’s earnings report!
Zacks' 2017 IPO Watch List
Before looking into the stocks mentioned above, you may want to get a head start on potential tech IPOs that are popping up on Zacks' radar. Imagine being in the first wave of investors to jump on a company with almost unlimited growth potential? This Special Report gives you the current scoop on 5 that may go public at any time.
One has driven from 0 to a $68 billion valuation in 8 years. Four others are a little less obvious but already show jaw-dropping growth. Download this IPO Watch List today for free >>