Perella Weinberg Partners (NASDAQ:PWP) Posts Earnings Results, Beats Expectations By $0.26 EPS

Perella Weinberg Partners (NASDAQ:PWP) posted its quarterly earnings results on Friday. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.26, Briefing.com reports. The business had revenue of $272.00 million for the quarter, compared to analyst estimates of $179.35 million. Perella Weinberg Partners had a positive return on equity of 17.87% and a negative net margin of 7.74%. The business’s revenue was up 64.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.16 EPS.

Perella Weinberg Partners Price Performance

Shares of NASDAQ PWP traded down $0.44 during midday trading on Friday, reaching $17.85. 1,312,057 shares of the company traded hands, compared to its average volume of 542,349. The company has a market cap of $1.68 billion, a price-to-earnings ratio of -9.60 and a beta of 1.50. The stock has a 50-day moving average price of $16.18 and a 200 day moving average price of $14.65. Perella Weinberg Partners has a 52 week low of $9.30 and a 52 week high of $19.52.

Wall Street Analyst Weigh In

PWP has been the topic of a number of recent research reports. JMP Securities raised their price target on shares of Perella Weinberg Partners from $18.00 to $22.00 and gave the stock a “market outperform” rating in a research report on Tuesday, April 9th. Keefe, Bruyette & Woods raised their target price on shares of Perella Weinberg Partners from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Friday, July 12th.

About Perella Weinberg Partners

Perella Weinberg Partners, an independent investment banking company, provides strategic and financial advice services in the United States and internationally. The company offers advisory services related to strategic and financial decisions, mergers and acquisition execution, shareholder and defense advisory, and financing and capital solutions advice with resources focused on restructuring, liability management, and capital markets advisory, as well as underwriting and research services primarily for the energy and related industries.