Moelis & Company (NYSE:MC) Issues Quarterly Earnings Results

Moelis & Company (NYSE:MC) released its quarterly earnings data on Wednesday. The asset manager reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02, Briefing.com reports. The firm had revenue of $273.76 million during the quarter, compared to analysts’ expectations of $273.58 million. Moelis & Company had a net margin of 1.38% and a return on equity of 4.38%. The company’s revenue for the quarter was up .6% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.15) earnings per share.

Moelis & Company Trading Down 1.6 %

Moelis & Company stock traded down $1.07 during trading hours on Friday, reaching $65.89. 1,228,214 shares of the stock were exchanged, compared to its average volume of 628,945. Moelis & Company has a twelve month low of $39.08 and a twelve month high of $72.80. The company has a market cap of $4.93 billion, a P/E ratio of 439.27 and a beta of 1.33. The stock has a 50 day moving average of $67.53 and a two-hundred day moving average of $60.69.

Moelis & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 4th will be paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date is Monday, November 4th. Moelis & Company’s dividend payout ratio (DPR) is presently 1,600.00%.

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Wells Fargo & Company assumed coverage on shares of Moelis & Company in a report on Thursday, September 12th. They set an “equal weight” rating and a $70.00 target price for the company. Morgan Stanley reduced their price target on Moelis & Company from $67.00 to $66.00 and set an “underweight” rating for the company in a research note on Thursday. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $60.00 price objective (up previously from $54.00) on shares of Moelis & Company in a research report on Thursday, July 25th. UBS Group boosted their target price on shares of Moelis & Company from $54.00 to $60.00 and gave the company a “sell” rating in a research report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. raised their price target on shares of Moelis & Company from $50.00 to $51.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Two equities research analysts have rated the stock with a sell rating and six have issued a hold rating to the company’s stock. According to MarketBeat.com, Moelis & Company currently has an average rating of “Hold” and an average target price of $60.83.

Insider Activity

In other Moelis & Company news, CEO Kenneth Moelis sold 5,308 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $68.87, for a total transaction of $365,561.96. Following the completion of the transaction, the chief executive officer now directly owns 86 shares in the company, valued at $5,922.82. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, CEO Kenneth Moelis sold 5,308 shares of the firm’s stock in a transaction dated Tuesday, July 30th. The stock was sold at an average price of $68.87, for a total value of $365,561.96. Following the sale, the chief executive officer now directly owns 86 shares of the company’s stock, valued at $5,922.82. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Director Kenneth Shropshire sold 495 shares of the business’s stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $69.29, for a total value of $34,298.55. Following the transaction, the director now directly owns 9,372 shares of the company’s stock, valued at approximately $649,385.88. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 6.40% of the company’s stock.

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.