Moody’s Corporation (NYSE:MCO) released its earnings report for the three months through September this wronging before the market opened in New York. The ratings agency showed earnings of $0.83 per share for the three month period on revenue totaling $705.5 million. On Thursday’s market shares in Moody’s rose by close to 2% and finished the day’s trading at $73.20.
In the run up to the release of these earnings numbers analysts following Moody’s Corporation (NYSE:MCO) to show earnings of 81 cents per share for the third quarter of the year. The company was expected to show revenue of $717 million for the period. In the same three months of 2012 the company earned 75 cents per share on revenue of $689 million.
Blue Mountain Credit Fund still in the red YTD; here are their biggest holdings
Blue Mountain Credit Alternatives Fund was up 0.36% for November, although the fund remains well into the red for the year. For the first 11 months, the fund was down 24.85% gross. Q3 2020 hedge fund letters, conferences and more Blue Mountain's fundamental credit strategy was up 0.63% for November, including a 1.09% gain for Read More
Moody’s Corporation (NYSE:MCO) shares are trading at a high valuation, meaning the market expects the company to do well in the coming months and years. Analysts are expecting the company to show earnings of $3.53 per share for the full year 2013.
In 2012 the company managed to earn $3.04 per share. Moody’s Corporation (NYSE:MCO) earnings are expected to expand massively over the next year or so. There is a lot of growth already priced into the stock, however, and that means the company’s performance may not be strong enough to justify investment from most traders.
Shares in Moody’s Corporation (NYSE:MCO) have been well rewarded for their investment so far in 2013. The company’s stock has increased by more than 45% since January 1. Moody’s shares will be trading at close to their highest level of all time when they open later today. The firm’s stock is trading at more than 21 times 2012 earnings mean the company’s stock has a lot of growth priced in at the moment.
Moody’s Corporation (NYSE:MCO) executives will host an earnings call at 11:30AM EDT later on this morning. Shareholders and analysts will be wondering how the company expects the ratings business to proceed as the Federal Reserve bond buying program appears set to continue indefinitely.