MSCI
stock was surging Tuesday after the investment support tool company posted fourth-quarter earnings and revenue that beat analysts’ estimates and increased its quarterly dividend.
MSCI
reported fourth-quarter earnings of $3.68 a share, topping Wall Street estimates of $3.29, and beating year-earlier profit of $2.84 a share. Revenue for the quarter was $690.1 million, which beat the consensus call of $662.6 million and jumped from last year’s $576.2 million.
“We continue to capitalize on important secular trends that are reshaping the global investment landscape, such as rising demand for portfolio customization at scale,” Chief Executive Henry Fernandez said in the earnings release.
MSCI
also announced a cash dividend of $1.60 a share for the first quarter of 2024. That’s a 16% increase from the prior dividend.
MSCI was the best-performing stock in the
S&P 500
Tuesday with shares surging 10% to $606.08. If the stock closes at those levels, it would be the highest close since December 2021 and largest percentage increase since April 2020, according to Dow Jones Market Data.
The
S&P 500
was down 0.1% on Tuesday. MSCI peer
FactSet Research Systems
was gaining 1% and
Morningstar
was up 0.7%.
Write to Angela Palumbo at [email protected]
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