Moody's (MCO) Stock Looks Near Fair Value On Its 47% Run

Moody's has delivered a 46.9% gain over the past three years, which puts a spotlight on what investors are really paying for today. The key issue is whether that price is grounded in the returns the business earns on the capital it puts to work. The 46.9% three year return means a lot of future expectations are already baked into the current US$458.69 share price, so the quality of Moody's capital returns matters more than ever. The company relies heavily on turning its data, ratings and...