Analysts Set Expectations for Moelis & Company’s Q2 2024 Earnings (NYSE:MC)

Moelis & Company (NYSE:MC) – Stock analysts at Zacks Research decreased their Q2 2024 earnings estimates for shares of Moelis & Company in a research report issued to clients and investors on Tuesday, July 23rd. Zacks Research analyst R. Department now forecasts that the asset manager will post earnings of $0.11 per share for the quarter, down from their prior estimate of $0.12. The consensus estimate for Moelis & Company’s current full-year earnings is $1.12 per share. Zacks Research also issued estimates for Moelis & Company’s Q2 2026 earnings at $0.80 EPS.

A number of other equities research analysts also recently commented on MC. JPMorgan Chase & Co. lifted their target price on shares of Moelis & Company from $50.00 to $51.00 and gave the stock a “neutral” rating in a research report on Thursday. JMP Securities reissued a “market perform” rating on shares of Moelis & Company in a research report on Tuesday, April 9th. Keefe, Bruyette & Woods reissued 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. Morgan Stanley boosted their price objective on shares of Moelis & Company from $51.00 to $61.00 and gave the company an “underweight” rating in a research report on Tuesday. Finally, UBS Group boosted their price objective on shares of Moelis & Company from $47.00 to $50.00 and gave the company a “sell” rating in a research report on Tuesday, July 9th. Two equities research 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, Moelis & Company has an average rating of “Hold” and a consensus target price of $56.00.

Moelis & Company Trading Up 6.4 %

NYSE:MC opened at $66.82 on Wednesday. Moelis & Company has a 12 month low of $38.58 and a 12 month high of $68.50. The company has a market cap of $5.00 billion, a PE ratio of -351.68 and a beta of 1.35. The company has a 50 day simple moving average of $57.20 and a two-hundred day simple moving average of $55.22.

Moelis & Company (NYSE:MC) last posted its earnings results on Wednesday, July 24th. The asset manager reported $0.18 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.07. Moelis & Company had a negative net margin of 1.33% and a negative return on equity of 0.12%. The business had revenue of $264.59 million during the quarter, compared to the consensus estimate of $227.90 million. During the same quarter in the previous year, the firm posted ($0.04) EPS. The firm’s revenue was up 47.1% on a year-over-year basis.

Institutional Trading of Moelis & Company

Several hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in Moelis & Company by 0.4% in the 3rd quarter. Vanguard Group Inc. now owns 7,787,483 shares of the asset manager’s stock worth $351,449,000 after purchasing an additional 28,446 shares in the last quarter. Wasatch Advisors LP increased its holdings in shares of Moelis & Company by 4.9% in the 1st quarter. Wasatch Advisors LP now owns 3,417,643 shares of the asset manager’s stock worth $194,020,000 after buying an additional 159,797 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of Moelis & Company by 11.0% in the 4th quarter. Goldman Sachs Group Inc. now owns 3,374,385 shares of the asset manager’s stock worth $189,404,000 after buying an additional 334,620 shares during the last quarter. Madison Asset Management LLC increased its holdings in shares of Moelis & Company by 4.5% in the 4th quarter. Madison Asset Management LLC now owns 1,399,649 shares of the asset manager’s stock worth $78,562,000 after buying an additional 60,455 shares during the last quarter. Finally, Lord Abbett & CO. LLC increased its holdings in shares of Moelis & Company by 5.2% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,118,245 shares of the asset manager’s stock worth $63,483,000 after buying an additional 55,402 shares during the last quarter. Hedge funds and other institutional investors own 91.53% of the company’s stock.

Insider Activity at Moelis & Company

In related news, insider Navid Mahmoodzadegan sold 44,980 shares of Moelis & Company stock in a transaction on Monday, May 13th. The shares were sold at an average price of $54.92, for a total transaction of $2,470,301.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In other Moelis & Company news, CEO Kenneth Moelis sold 40,000 shares of the business’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $53.98, for a total value of $2,159,200.00. Following the sale, the chief executive officer now owns 42,441 shares in the company, valued at approximately $2,290,965.18. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Navid Mahmoodzadegan sold 44,980 shares of the business’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $54.92, for a total transaction of $2,470,301.60. The disclosure for this sale can be found here. 6.40% of the stock is owned by corporate insiders.

Moelis & Company Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Investors of record on Monday, August 5th will be paid a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend is Monday, August 5th. Moelis & Company’s dividend payout ratio (DPR) is -1,263.16%.

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.