Morningstar (NASDAQ:MORN) Announces Quarterly Earnings Results, Misses Estimates By $0.01 EPS

Morningstar (NASDAQ:MORN) released its quarterly earnings data on Wednesday. The business services provider reported $2.00 earnings per share for the quarter, missing analysts’ consensus estimates of $2.01 by ($0.01), Yahoo Finance reports. Morningstar had a net margin of 11.34% and a return on equity of 22.34%. The business had revenue of $569.40 million during the quarter.

Morningstar Price Performance

Morningstar stock traded up $1.84 during mid-day trading on Friday, hitting $333.18. 110,092 shares of the company traded hands, compared to its average volume of 114,545. The company has a debt-to-equity ratio of 0.63, a quick ratio of 1.05 and a current ratio of 1.05. Morningstar has a one year low of $226.00 and a one year high of $349.07. The stock has a market cap of $14.27 billion, a price-to-earnings ratio of 58.35 and a beta of 1.19. The stock has a fifty day moving average price of $321.32 and a 200-day moving average price of $307.19.

Morningstar Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, October 31st. Investors of record on Friday, October 4th will be given a $0.405 dividend. This represents a $1.62 annualized dividend and a dividend yield of 0.49%. The ex-dividend date is Friday, October 4th. Morningstar’s dividend payout ratio (DPR) is 28.37%.

Insider Transactions at Morningstar

In other Morningstar news, CRO Daniel Joseph Dunn sold 1,600 shares of the firm’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $320.89, for a total transaction of $513,424.00. Following the sale, the executive now owns 12,967 shares in the company, valued at $4,160,980.63. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other news, Director William M. Lyons sold 750 shares of the business’s stock in a transaction that occurred on Monday, September 30th. The shares were sold at an average price of $316.48, for a total value of $237,360.00. Following the completion of the sale, the director now directly owns 13,590 shares in the company, valued at approximately $4,300,963.20. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CRO Daniel Joseph Dunn sold 1,600 shares of the stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $320.89, for a total transaction of $513,424.00. Following the transaction, the executive now directly owns 12,967 shares in the company, valued at approximately $4,160,980.63. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 59,541 shares of company stock valued at $18,399,192 in the last quarter. Insiders own 39.90% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Redburn Atlantic lowered Morningstar from a “buy” rating to a “neutral” rating and set a $340.00 price objective on the stock. in a research note on Wednesday, October 9th. UBS Group began coverage on shares of Morningstar in a report on Tuesday, October 8th. They issued a “buy” rating and a $390.00 price target on the stock. Finally, BMO Capital Markets reaffirmed an “outperform” rating and set a $352.00 target price on shares of Morningstar in a report on Wednesday, August 28th. One research analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $360.67.

Morningstar Company Profile

Morningstar, Inc provides independent investment insights in the United States, Asia. Australia, Continental Europe, the United Kingdom, and internationally. The company operates in five segments: Morningstar Data and Analytics; PitchBook; Morningstar Wealth; Morningstar Credit; and Morningstar Retirement.