
- 要闻
- 穆迪公司的(纽交所:MCO)股票可能跑得太快,太早了。
Moody's Corporation's (NYSE:MCO) Shares May Have Run Too Fast Too Soon
Moody's Corporation's (NYSE:MCO) Shares May Have Run Too Fast Too Soon
Moody's Corporation's (NYSE:MCO) price-to-earnings (or "P/E") ratio of 44.3x might make it look like a strong sell right now compared to the market in the United States, where around half of the companies have P/E ratios below 19x and even P/E's below 11x are quite common. Nonetheless, we'd need to dig a little deeper to determine if there is a rational basis for the highly elevated P/E.
Recent times have been advantageous for Moody's as its earnings have been rising faster than most other companies. The P/E is probably high because investors think this strong earnings performance will continue. You'd really hope so, otherwise you're paying a pretty hefty price for no particular reason.

Is There Enough Growth For Moody's?
The only time you'd be truly comfortable seeing a P/E as steep as Moody's' is when the company's growth is on track to outshine the market decidedly.
Taking a look back first, we see that the company grew earnings per share by an impressive 33% last year. Still, incredibly EPS has fallen 1.7% in total from three years ago, which is quite disappointing. So unfortunately, we have to acknowledge that the company has not done a great job of growing earnings over that time.
Turning to the outlook, the next three years should generate growth of 11% each year as estimated by the analysts watching the company. That's shaping up to be similar to the 11% per year growth forecast for the broader market.
With this information, we find it interesting that Moody's is trading at a high P/E compared to the market. Apparently many investors in the company are more bullish than analysts indicate and aren't willing to let go of their stock right now. Although, additional gains will be difficult to achieve as this level of earnings growth is likely to weigh down the share price eventually.
The Final Word
Typically, we'd caution against reading too much into price-to-earnings ratios when settling on investment decisions, though it can reveal plenty about what other market participants think about the company.
Our examination of Moody's' analyst forecasts revealed that its market-matching earnings outlook isn't impacting its high P/E as much as we would have predicted. When we see an average earnings outlook with market-like growth, we suspect the share price is at risk of declining, sending the high P/E lower. Unless these conditions improve, it's challenging to accept these prices as being reasonable.
It is also worth noting that we have found 1 warning sign for Moody's that you need to take into consideration.
You might be able to find a better investment than Moody's. If you want a selection of possible candidates, check out this free list of interesting companies that trade on a low P/E (but have proven they can grow earnings).
Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.
This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.
与美国市场相比,穆迪公司(纽约证券交易所代码:MCO)的市盈率(或 “市盈率”)为44.3倍,这可能使其看起来像是强劲的抛售。在美国,约有一半公司的市盈率低于19倍,甚至市盈率低于11倍也很常见。尽管如此,我们需要更深入地挖掘,以确定市盈率的高涨是否有合理的基础。
最近对穆迪来说是有利的,因为其收益的增长速度快于大多数其他公司。市盈率可能很高,因为投资者认为这种强劲的收益表现将继续下去。你真的希望如此,否则你会无缘无故地付出相当大的代价。

穆迪有足够的增长吗?
只有当公司的增长有望明显超过市场时,你才能真正放心地看到像穆迪一样高的市盈率。
首先回顾一下,我们发现该公司去年的每股收益增长了令人印象深刻的33%。尽管如此,令人难以置信的是,每股收益总额比三年前下降了1.7%,这非常令人失望。因此,不幸的是,我们必须承认,在此期间,该公司在增加收益方面做得不好。
展望来看,根据关注该公司的分析师的估计,未来三年每年将实现11%的增长。这将与整个市场每年11%的增长预测相似。
有了这些信息,我们发现有趣的是,与市场相比,穆迪的市盈率很高。显然,该公司的许多投资者比分析师所表示的更为看涨,并且不愿意立即放弃股票。但是,由于这种收益增长水平最终可能会压低股价,因此很难实现额外的收益。
最后一句话
通常,在做出投资决策时,我们谨慎行事,不要过多地解读市盈率,尽管这可以充分揭示其他市场参与者对公司的看法。
我们对穆迪分析师预测的审查显示,其与市场匹配的收益前景对高市盈率的影响没有我们预期的那么大。当我们看到具有类似市场增长的平均收益前景时,我们怀疑股价有下跌的风险,从而使高市盈率走低。除非这些条件有所改善,否则很难接受这些合理的价格。
还值得注意的是,我们发现了穆迪的1个警告信号,你需要考虑这个信号。
你也许能找到比穆迪更好的投资。如果你想选择可能的候选人,可以免费查看这份有趣的公司名单,这些公司的市盈率很低(但已经证明可以增加收益)。
对这篇文章有反馈吗?担心内容吗?直接联系我们。或者,发送电子邮件给编辑组(网址为)simplywallst.com。
Simply Wall St 的这篇文章本质上是笼统的。我们仅使用公正的方法提供基于历史数据和分析师预测的评论,我们的文章并非旨在提供财务建议。它不构成买入或卖出任何股票的建议,也没有考虑到您的目标或财务状况。我们的目标是为您提供由基本数据驱动的长期重点分析。请注意,我们的分析可能不会考虑最新的价格敏感型公司公告或定性材料。华尔街只是没有持有上述任何股票的头寸。
moomoo是Moomoo Technologies Inc.公司提供的金融信息和交易应用程序。
在美国,moomoo上的投资产品和服务由Moomoo Financial Inc.提供,一家受美国证券交易委员会(SEC)监管的持牌主体。 Moomoo Financial Inc.是金融业监管局(FINRA)和证券投资者保护公司(SIPC)的成员。
在新加坡,moomoo上的投资产品和服务是通过Moomoo Financial Singapore Pte. Ltd.提供,该公司受新加坡金融管理局(MAS)监管(牌照号码︰CMS101000) ,持有资本市场服务牌照 (CMS) ,持有财务顾问豁免(Exempt Financial Adviser)资质。本内容未经新加坡金融管理局的审查。
在澳大利亚,moomoo上的金融产品和服务是通过Moomoo Securities Australia Limited提供,该公司是受澳大利亚证券和投资委员会(ASIC)监管的澳大利亚金融服务许可机构(AFSL No. 224663)。请阅读并理解我们的《金融服务指南》、《条款与条件》、《隐私政策》和其他披露文件,这些文件可在我们的网站 https://www.moomoo.com/au中获取。
在加拿大,通过moomoo应用提供的仅限订单执行的券商服务由Moomoo Financial Canada Inc.提供,并受加拿大投资监管机构(CIRO)监管。
在马来西亚,moomoo上的投资产品和服务是通过Moomoo Securities Malaysia Sdn. Bhd. 提供,该公司受马来西亚证券监督委员会(SC)监管(牌照号码︰eCMSL/A0397/2024) ,持有资本市场服务牌照 (CMSL) 。本内容未经马来西亚证券监督委员会的审查。
Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd., Moomoo Securities Australia Limited, Moomoo Financial Canada Inc.,和Moomoo Securities Malaysia Sdn. Bhd.是关联公司。
风险及免责提示
moomoo是Moomoo Technologies Inc.公司提供的金融信息和交易应用程序。
在美国,moomoo上的投资产品和服务由Moomoo Financial Inc.提供,一家受美国证券交易委员会(SEC)监管的持牌主体。 Moomoo Financial Inc.是金融业监管局(FINRA)和证券投资者保护公司(SIPC)的成员。
在新加坡,moomoo上的投资产品和服务是通过Moomoo Financial Singapore Pte. Ltd.提供,该公司受新加坡金融管理局(MAS)监管(牌照号码︰CMS101000) ,持有资本市场服务牌照 (CMS) ,持有财务顾问豁免(Exempt Financial Adviser)资质。本内容未经新加坡金融管理局的审查。
在澳大利亚,moomoo上的金融产品和服务是通过Moomoo Securities Australia Limited提供,该公司是受澳大利亚证券和投资委员会(ASIC)监管的澳大利亚金融服务许可机构(AFSL No. 224663)。请阅读并理解我们的《金融服务指南》、《条款与条件》、《隐私政策》和其他披露文件,这些文件可在我们的网站 https://www.moomoo.com/au中获取。
在加拿大,通过moomoo应用提供的仅限订单执行的券商服务由Moomoo Financial Canada Inc.提供,并受加拿大投资监管机构(CIRO)监管。
在马来西亚,moomoo上的投资产品和服务是通过Moomoo Securities Malaysia Sdn. Bhd. 提供,该公司受马来西亚证券监督委员会(SC)监管(牌照号码︰eCMSL/A0397/2024) ,持有资本市场服务牌照 (CMSL) 。本内容未经马来西亚证券监督委员会的审查。
Moomoo Technologies Inc., Moomoo Financial Inc., Moomoo Financial Singapore Pte. Ltd., Moomoo Securities Australia Limited, Moomoo Financial Canada Inc.,和Moomoo Securities Malaysia Sdn. Bhd.是关联公司。
- 分享到weixin
- 分享到qq
- 分享到facebook
- 分享到twitter
- 分享到微博
- 粘贴板
使用浏览器的分享功能,分享给你的好友吧
