Moody's slips after forecast fails to meet lofty expectations
** Shares of ratings agency Moody's MCO.N fall as much as 4.6%, last down 3.6% at $469.51
** William Blair says it would not be surprised if the market's reaction is more muted given MCO's implied Q4 outlook is largely in-line with its expectation and Street consensus
** MCO now expects annual adjusted profit per share between $11.90 and $12.10, higher than its prior forecast of $11 to $11.40
** William Blair says MCO's revised annual profit forecast implies Q4 adjusted profit of $2.15/shr, compared with the brokerage's expectation of $2.17/shr
** Investor expectations were elevated into the earnings, as evidenced by strong recent share performance - William Blair
** Says MCO shares could take a breather in the very near-term in light of increasingly difficult prior-year comparisons and elevated macroeconomic and geopolitical uncertainty
** As of last close, MCO shares were up 24.7% YTD
Reporting by Arasu Kannagi Basil in Bengaluru
Latest News
Disclaimer: The XM Group entities provide execution-only service and access to our Online Trading Facility, permitting a person to view and/or use the content available on or via the website, is not intended to change or expand on this, nor does it change or expand on this. Such access and use are always subject to: (i) Terms and Conditions; (ii) Risk Warnings; and (iii) Full Disclaimer. Such content is therefore provided as no more than general information. Particularly, please be aware that the contents of our Online Trading Facility are neither a solicitation, nor an offer to enter any transactions on the financial markets. Trading on any financial market involves a significant level of risk to your capital.
All material published on our Online Trading Facility is intended for educational/informational purposes only, and does not contain – nor should it be considered as containing – financial, investment tax or trading advice and recommendations; or a record of our trading prices; or an offer of, or solicitation for, a transaction in any financial instruments; or unsolicited financial promotions to you.
Any third-party content, as well as content prepared by XM, such as: opinions, news, research, analyses, prices and other information or links to third-party sites contained on this website are provided on an “as-is” basis, as general market commentary, and do not constitute investment advice. To the extent that any content is construed as investment research, you must note and accept that the content was not intended to and has not been prepared in accordance with legal requirements designed to promote the independence of investment research and as such, it would be considered as marketing communication under the relevant laws and regulations. Please ensure that you have read and understood our Notification on Non-Independent Investment. Research and Risk Warning concerning the foregoing information, which can be accessed here.
