Moelis & Company (NYSE:MC) Posts Quarterly Earnings Results, Beats Expectations By $0.79 EPS

Moelis & Company (NYSE:MC) released its quarterly earnings data on Wednesday. The asset manager reported $1.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.39 by $0.79, Zacks reports. Moelis & Company had a return on equity of 12.15% and a net margin of 4.22%.

Moelis & Company Price Performance

Shares of NYSE:MC traded up $2.34 during midday trading on Wednesday, hitting $79.95. The company had a trading volume of 1,307,010 shares, compared to its average volume of 716,166. Moelis & Company has a 12-month low of $46.24 and a 12-month high of $81.60. The company has a fifty day moving average of $75.32 and a two-hundred day moving average of $70.61. The company has a market cap of $5.99 billion, a price-to-earnings ratio of 150.84 and a beta of 1.40.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on MC. UBS Group upped their target price on shares of Moelis & Company from $54.00 to $60.00 and gave the company a “sell” rating in a research note on Tuesday, October 8th. Keefe, Bruyette & Woods upgraded shares of Moelis & Company from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $71.00 to $86.00 in a research report on Friday, December 20th. Wells Fargo & Company cut their target price on shares of Moelis & Company from $78.00 to $77.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Finally, Morgan Stanley raised Moelis & Company from an “underweight” rating to an “overweight” rating and increased their price target for the company from $66.00 to $92.00 in a report on Monday, December 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $70.67.

Moelis & Company Company Profile

Moelis & Company operates as an investment banking advisory firm. It offers advisory services in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets transactions, and other corporate finance matters, as well as strategic, capital structure, and private funds advisory.