Moelis & Co Announces Quarterly Dividend of $0.50 (NYSE:MC)

Moelis & Co (NYSE:MC) announced a quarterly dividend on Wednesday, October 30th, Fidelity reports. Investors of record on Monday, November 11th will be paid a dividend of 0.50 per share by the asset manager on Friday, December 13th. This represents a $2.00 annualized dividend and a yield of 5.69%. The ex-dividend date of this dividend is Thursday, November 7th.

Shares of MC traded down $0.80 during midday trading on Wednesday, hitting $35.14. The stock had a trading volume of 12,041 shares, compared to its average volume of 512,611. The company has a 50 day simple moving average of $32.50 and a two-hundred day simple moving average of $34.06. Moelis & Co has a twelve month low of $29.56 and a twelve month high of $48.69. The firm has a market cap of $2.13 billion, a price-to-earnings ratio of 11.72 and a beta of 2.00. The company has a debt-to-equity ratio of 0.15, a current ratio of 2.53 and a quick ratio of 2.53.

Moelis & Co (NYSE:MC) last released its quarterly earnings results on Wednesday, October 30th. The asset manager reported $0.76 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.57 by $0.19. Moelis & Co had a return on equity of 47.82% and a net margin of 16.14%. The firm had revenue of $231.70 million for the quarter, compared to the consensus estimate of $198.15 million. During the same quarter last year, the business posted $0.62 EPS. The company’s revenue for the quarter was up 11.5% on a year-over-year basis. Analysts forecast that Moelis & Co will post 2.33 EPS for the current fiscal year.

In other news, CFO Joseph Simon sold 17,528 shares of the firm’s stock in a transaction dated Thursday, August 29th. The stock was sold at an average price of $33.64, for a total value of $589,641.92. Following the completion of the transaction, the chief financial officer now owns 43,374 shares in the company, valued at approximately $1,459,101.36. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Christopher Callesano sold 4,797 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $36.10, for a total value of $173,171.70. The disclosure for this sale can be found here. Insiders sold a total of 125,394 shares of company stock valued at $4,317,821 in the last 90 days. 19.67% of the stock is owned by corporate insiders.

Several analysts have issued reports on the company. Morgan Stanley dropped their price target on Moelis & Co from $41.00 to $39.00 and set an “equal weight” rating on the stock in a research note on Tuesday, October 8th. Zacks Investment Research raised Moelis & Co from a “sell” rating to a “hold” rating and set a $39.00 price target on the stock in a research note on Friday, November 1st. Buckingham Research dropped their price target on Moelis & Co from $44.00 to $39.00 and set a “buy” rating on the stock in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $39.00 price target (down previously from $42.00) on shares of Moelis & Co in a research note on Wednesday, July 31st. Finally, ValuEngine raised Moelis & Co from a “sell” rating to a “hold” rating in a research note on Wednesday, October 2nd. One research analyst has rated the stock with a sell rating, four have given a hold rating and four have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $43.43.

About Moelis & Co

Moelis & Company, an investment bank, provides strategic and financial advisory services in the United States and internationally. It advises clients in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets advisory, and other corporate finance matters. The company offers its services to public multinational corporations, governments, financial sponsors, middle market private companies, and individual entrepreneurs.

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Dividend History for Moelis & Co (NYSE:MC)

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