Markets

Moody’s Downgraded to “Hold” at Benchmark (MCO)

Credit ratings specialist Moody's Corporation ( MCO ) on Tuesday caught a downgrade from analysts at The Benchmark Company.

The firm said it cut its rating on MCO from "Buy" to "Hold" with a $29 price target. That target suggests an 11% downside to the stock's Monday closing price of $32.70.

Benchmark noted that MCO's results will be hampered by a turbulent market environment.

Moody's shares fell 80 cents, or -2.5%, in premarket trading Tuesday. The stock has risen more than 23% year-to-date, far outpacing the 4% decline of the S&P 500 Index.

The Bottom Line

Shares of Moody's ( MCO ) have a 1.71% dividend yield, based on last night's closing stock price of $32.70. The stock has technical support in the $27-$30 price area. If the shares can firm up, we see overhead resistance around the $34-$36 price levels.

Moody's Corporation ( MCO ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.2 out of 5 stars.

Be sure to visit our complete recommended list of the Best Dividend Stocks , as well as a detailed explanation of our ratings system here .

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Created by Dividend.com


The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

In This Story

MCO

Other Topics

Stocks

Latest Markets Videos