Moody's (MCO) Makes Second Increase to FY10 EPS Estimates, Shares Jump
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Price: $514.55 +0.28%
Financial Fact:
Less: Net income attributable to noncontrolling interests: 1.3M
Today's EPS Names:
EGRX, VAXX, AFIB, More
Financial Fact:
Less: Net income attributable to noncontrolling interests: 1.3M
Today's EPS Names:
EGRX, VAXX, AFIB, More
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Moody's Corporation (NYSE: MCO) shares are rocking today following raised guidance out of the ratings firm. Shares are up 7.3% today so far.
Looking at revenue growth, Moody's increased their FY10 outlook from a high-single to low-double-digit percent growth to a firmer 13% jump from 2009. Their EPS estimate also got a 9% shot in the arm, boosted from $1.90 - $1.96 to $2.08 - $2.14.
The increase in FY10 EPS estimates follows a similar increase the accompanied their third quarter earnings release in October. At the time, Moody's increased their outlook from $1.75 - $1.85 to $1.90 - $1.96. The raise in EPS guidance last quarter was the first time it was modified since the company issued the guidance in their Q409 earnings report.
Moody's maintains a high-30% range for their FY10 operating margin, which is in-line with historical levels.
The revised revenue outlook stems from tow major factors: robust fourth quarter bond market issuance benefiting Moody’s Investors Service, and accelerated completion of software projects for customers of Moody’s Analytics. Additionally, Moody's is looking for a drop in their tax rate related to the exercise of foreign tax credits and lower foreign and state taxes. The tax range is now expected to be 30% - 31%, from 33% - 34% prior.
Looking at revenue growth, Moody's increased their FY10 outlook from a high-single to low-double-digit percent growth to a firmer 13% jump from 2009. Their EPS estimate also got a 9% shot in the arm, boosted from $1.90 - $1.96 to $2.08 - $2.14.
The increase in FY10 EPS estimates follows a similar increase the accompanied their third quarter earnings release in October. At the time, Moody's increased their outlook from $1.75 - $1.85 to $1.90 - $1.96. The raise in EPS guidance last quarter was the first time it was modified since the company issued the guidance in their Q409 earnings report.
Moody's maintains a high-30% range for their FY10 operating margin, which is in-line with historical levels.
The revised revenue outlook stems from tow major factors: robust fourth quarter bond market issuance benefiting Moody’s Investors Service, and accelerated completion of software projects for customers of Moody’s Analytics. Additionally, Moody's is looking for a drop in their tax rate related to the exercise of foreign tax credits and lower foreign and state taxes. The tax range is now expected to be 30% - 31%, from 33% - 34% prior.
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