Moelis & Company (NYSE:MC) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

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

Moelis & Company Price Performance

Shares of Moelis & Company stock traded down $1.07 on Friday, hitting $65.89. The company had a trading volume of 1,228,048 shares, compared to its average volume of 628,944. The business has a 50-day simple moving average of $67.51 and a 200-day simple moving average of $60.62. The company has a market cap of $4.93 billion, a PE ratio of 442.20 and a beta of 1.33. Moelis & Company has a 52 week low of $39.08 and a 52 week high of $72.80.

Moelis & Company Announces Dividend

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

Analysts Set New Price Targets

A number of analysts recently weighed in on the stock. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $60.00 price target (up from $54.00) on shares of Moelis & Company in a research report on Thursday, July 25th. JPMorgan Chase & Co. upped 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. Morgan Stanley decreased their price objective on shares of Moelis & Company from $67.00 to $66.00 and set an “underweight” rating for the company in a research report on Thursday. Wells Fargo & Company assumed coverage on shares of Moelis & Company in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 price objective for the company. Finally, UBS Group upped their price objective 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. Two analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $60.83.

Insider Buying and Selling

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

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.