Moelis & Company (NYSE:MC) Announces Earnings Results

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

Moelis & Company Trading Down 1.0 %

Shares of NYSE MC traded down $0.67 during midday trading on Friday, reaching $66.29. The company’s stock had a trading volume of 262,713 shares, compared to its average volume of 624,280. The company has a 50 day moving average price of $67.51 and a 200 day moving average price of $60.62. The company has a market cap of $4.96 billion, a price-to-earnings ratio of 442.20 and a beta of 1.33. Moelis & Company has a one year low of $39.08 and a one year high of $72.80.

Moelis & Company Dividend Announcement

The company 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. The ex-dividend date of this dividend is Monday, November 4th. This represents a $2.40 annualized dividend and a dividend yield of 3.62%. Moelis & Company’s dividend payout ratio (DPR) is 1,600.00%.

Analysts Set New Price Targets

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

Insider Transactions at Moelis & Company

In other news, Director Kenneth Shropshire sold 495 shares of the company’s stock in a transaction dated 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 in the company, valued at $649,385.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Kenneth Shropshire sold 495 shares of the stock in a transaction 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 transaction, the director now owns 9,372 shares in the company, valued at $649,385.88. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Kenneth Moelis sold 5,308 shares of Moelis & Company stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $68.87, for a total transaction of $365,561.96. Following the completion of the sale, the chief executive officer now directly owns 86 shares of the company’s stock, valued at approximately $5,922.82. The trade was 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.