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

Moelis & Company (NYSE:MC) released its quarterly earnings results on Wednesday. The asset manager reported $0.22 EPS for the quarter, topping the consensus estimate of $0.20 by $0.02, Briefing.com reports. The business had revenue of $273.76 million during the quarter, compared to analyst estimates of $273.58 million. Moelis & Company had a return on equity of 4.38% and a net margin of 1.38%. The company’s quarterly revenue was up .6% on a year-over-year basis. During the same period last year, the business posted ($0.15) earnings per share.

Moelis & Company Stock Performance

MC traded down $1.07 during trading on Friday, reaching $65.89. The company’s stock had a trading volume of 1,228,048 shares, compared to its average volume of 628,944. Moelis & Company has a 52-week low of $39.08 and a 52-week high of $72.80. The company’s fifty day moving average price is $67.51 and its 200-day moving average price is $60.62. The company has a market capitalization of $4.93 billion, a price-to-earnings ratio of 442.20 and a beta of 1.33.

Moelis & Company Announces Dividend

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

Insider Transactions at Moelis & Company

In other news, CEO Kenneth Moelis sold 5,308 shares of the business’s stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $68.87, for a total transaction of $365,561.96. Following the sale, the chief executive officer now owns 86 shares of the company’s stock, valued at $5,922.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Kenneth Moelis sold 5,308 shares of Moelis & Company stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $68.87, for a total transaction of $365,561.96. Following the completion of the transaction, the chief executive officer now directly owns 86 shares in the company, valued at $5,922.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Kenneth Shropshire sold 495 shares of Moelis & Company stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $69.29, for a total value of $34,298.55. Following the transaction, the director now owns 9,372 shares of the company’s stock, valued at $649,385.88. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.40% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on MC. UBS Group increased their price objective on Moelis & Company from $54.00 to $60.00 and gave the company a “sell” rating in a research note on Tuesday, October 8th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $60.00 price target (up from $54.00) on shares of Moelis & Company in a research note on Thursday, July 25th. JPMorgan Chase & Co. raised their price target on Moelis & Company from $50.00 to $51.00 and gave the company a “neutral” rating in a research note on Thursday, July 25th. Morgan Stanley cut their price target on Moelis & Company from $67.00 to $66.00 and set an “underweight” rating on the stock in a research note on Thursday. Finally, Wells Fargo & Company assumed coverage on Moelis & Company in a research note on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 price target on the stock. Two analysts have rated the stock with a sell rating and six have issued a hold rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $60.83.

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.