Moody's slips after forecast fails to meet lofty expectations

Moodys

22/10/2024 15:36

** 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)
 ((ArasuKannagi.Basil@thomsonreuters.com;))