Moelis & Company Forecasted to Earn Q2 2024 Earnings of $0.13 Per Share (NYSE:MC)

Moelis & Company (NYSE:MC) – Zacks Research dropped their Q2 2024 earnings per share estimates for shares of Moelis & Company in a note issued to investors on Friday, April 19th. Zacks Research analyst R. Department now anticipates that the asset manager will post earnings of $0.13 per share for the quarter, down from their prior estimate of $0.16. The consensus estimate for Moelis & Company’s current full-year earnings is $1.47 per share. Zacks Research also issued estimates for Moelis & Company’s Q3 2024 earnings at $0.33 EPS, FY2024 earnings at $1.24 EPS, Q2 2025 earnings at $0.66 EPS, Q1 2026 earnings at $0.70 EPS and FY2026 earnings at $4.01 EPS.

Moelis & Company (NYSE:MC) last announced its quarterly earnings results on Wednesday, February 7th. The asset manager reported ($0.06) earnings per share for the quarter, beating the consensus estimate of ($0.11) by $0.05. Moelis & Company had a negative return on equity of 3.82% and a negative net margin of 2.89%. The firm had revenue of $214.90 million for the quarter, compared to analysts’ expectations of $197.98 million. During the same period in the prior year, the business posted $0.33 earnings per share. The company’s revenue was up 3.7% on a year-over-year basis.

Several other analysts have also recently weighed in on MC. The Goldman Sachs Group upgraded shares of Moelis & Company from a “sell” rating to a “neutral” rating and raised their price objective for the company from $53.00 to $58.00 in a research report on Wednesday, March 13th. JMP Securities reissued a “market perform” rating on shares of Moelis & Company in a report on Tuesday, April 9th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and issued a $56.00 target price on shares of Moelis & Company in a research note on Monday, January 29th. StockNews.com raised shares of Moelis & Company from a “sell” rating to a “hold” rating in a research note on Thursday, February 8th. Finally, JPMorgan Chase & Co. upped their price objective on shares of Moelis & Company from $46.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. Two analysts have rated the stock with a sell rating and five have assigned a hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $50.80.

Moelis & Company Stock Performance

Shares of MC stock opened at $53.20 on Monday. The company has a market capitalization of $3.79 billion, a PE ratio of -147.78 and a beta of 1.35. Moelis & Company has a 52-week low of $33.87 and a 52-week high of $58.67. The business’s fifty day moving average is $54.35 and its 200 day moving average is $51.36.

Institutional Investors Weigh In On Moelis & Company

Several institutional investors and hedge funds have recently made changes to their positions in the company. Mendota Financial Group LLC bought a new position in Moelis & Company during the 4th quarter valued at about $34,000. GAMMA Investing LLC purchased a new position in shares of Moelis & Company during the fourth quarter valued at approximately $34,000. Hexagon Capital Partners LLC raised its holdings in shares of Moelis & Company by 147.9% during the first quarter. Hexagon Capital Partners LLC now owns 657 shares of the asset manager’s stock valued at $37,000 after purchasing an additional 392 shares during the last quarter. Assetmark Inc. lifted its position in Moelis & Company by 22.5% during the fourth quarter. Assetmark Inc. now owns 1,505 shares of the asset manager’s stock valued at $84,000 after purchasing an additional 276 shares during the period. Finally, Neo Ivy Capital Management purchased a new stake in Moelis & Company in the third quarter worth approximately $99,000. Institutional investors own 91.53% of the company’s stock.

Insiders Place Their Bets

In related news, Vice Chairman Eric Cantor sold 17,857 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $52.60, for a total value of $939,278.20. Following the completion of the transaction, the insider now directly owns 195,863 shares in the company, valued at approximately $10,302,393.80. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, Vice Chairman Eric Cantor sold 17,857 shares of the company’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $52.60, for a total value of $939,278.20. Following the sale, the insider now owns 195,863 shares in the company, valued at approximately $10,302,393.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kenneth Moelis sold 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $54.11, for a total value of $4,058,250.00. Following the transaction, the chief executive officer now directly owns 86,441 shares of the company’s stock, valued at approximately $4,677,322.51. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 375,185 shares of company stock worth $20,130,225. 6.96% of the stock is owned by corporate insiders.

Moelis & Company Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, February 20th were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $2.40 annualized dividend and a yield of 4.51%. Moelis & Company’s payout ratio is -666.67%.

About Moelis & Company

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.