Moelis & Co (NYSE:MC) Announces Quarterly Dividend of $0.26

Moelis & Co (NYSE:MC) announced a quarterly dividend on Wednesday, July 29th, Zacks reports. Shareholders of record on Monday, August 10th will be given a dividend of 0.255 per share by the asset manager on Wednesday, September 30th. This represents a $1.02 annualized dividend and a yield of 3.45%. The ex-dividend date of this dividend is Friday, August 7th.

Moelis & Co has increased its dividend payment by an average of 61.3% per year over the last three years and has raised its dividend every year for the last 5 years. Moelis & Co has a payout ratio of 87.9% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Moelis & Co to earn $2.01 per share next year, which means the company should continue to be able to cover its $1.02 annual dividend with an expected future payout ratio of 50.7%.

Moelis & Co stock traded down $0.29 during trading hours on Friday, hitting $29.55. 2,809 shares of the stock traded hands, compared to its average volume of 539,005. The firm’s 50-day moving average price is $31.89 and its two-hundred day moving average price is $31.86. The company has a current ratio of 5.21, a quick ratio of 5.21 and a debt-to-equity ratio of 0.55. The company has a market cap of $1.89 billion, a PE ratio of 20.58 and a beta of 1.53. Moelis & Co has a one year low of $22.11 and a one year high of $41.27.

Moelis & Co (NYSE:MC) last posted its quarterly earnings data on Wednesday, July 29th. The asset manager reported ($0.11) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of $0.04 by ($0.15). Moelis & Co had a net margin of 10.60% and a return on equity of 27.53%. The firm had revenue of $159.90 million for the quarter, compared to the consensus estimate of $146.57 million. During the same period in the previous year, the firm posted $0.56 earnings per share. The business’s revenue was up 4.2% compared to the same quarter last year. On average, sell-side analysts expect that Moelis & Co will post 0.35 earnings per share for the current fiscal year.

In other Moelis & Co news, insider Navid Mahmoodzadegan sold 72,632 shares of the business’s stock in a transaction on Wednesday, May 27th. The shares were sold at an average price of $33.47, for a total transaction of $2,430,993.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Jeffrey Raich sold 1,500 shares of the business’s stock in a transaction on Friday, May 8th. The shares were sold at an average price of $30.76, for a total transaction of $46,140.00. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 105,278 shares of company stock valued at $3,431,265. Company insiders own 17.99% of the company’s stock.

Several equities analysts have recently issued reports on the stock. UBS Group lowered shares of Moelis & Co from a “neutral” rating to a “sell” rating and set a $22.00 target price for the company. in a report on Tuesday, April 14th. Goldman Sachs Group lowered shares of Moelis & Co from a “buy” rating to a “neutral” rating and lowered their target price for the company from $34.00 to $27.00 in a report on Monday, July 13th. JPMorgan Chase & Co. lowered shares of Moelis & Co from a “neutral” rating to an “underweight” rating and lifted their target price for the company from $20.00 to $26.00 in a report on Tuesday, July 7th. Wolfe Research assumed coverage on shares of Moelis & Co in a report on Wednesday, July 22nd. They set an “underperform” rating and a $19.00 target price for the company. Finally, TheStreet upgraded shares of Moelis & Co from a “c+” rating to a “b-” rating in a report on Thursday, June 18th. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and a consensus price target of $30.80.

Moelis & Co Company Profile

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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