Moelis & Company (MC) To Go Ex-Dividend on November 4th

Moelis & Company (NYSE:MC) declared a quarterly dividend on Wednesday, October 23rd, Wall Street Journal reports. Stockholders of record on Monday, November 4th will be paid a dividend of 0.60 per share by the asset manager on Monday, December 2nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.58%. The ex-dividend date of this dividend is Monday, November 4th.

Moelis & Company has raised its dividend by an average of 19.6% annually over the last three years. Moelis & Company has a payout ratio of 100.8% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Analysts expect Moelis & Company to earn $2.68 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 89.6%.

Moelis & Company Price Performance

Shares of NYSE:MC opened at $66.98 on Friday. The firm has a market capitalization of $5.01 billion, a price-to-earnings ratio of -352.53 and a beta of 1.33. The business’s 50 day simple moving average is $67.51 and its 200-day simple moving average is $60.62. Moelis & Company has a 12 month low of $38.58 and a 12 month high of $72.80.

Moelis & Company (NYSE:MC) last issued its quarterly earnings data on Wednesday, July 24th. The asset manager reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.07. Moelis & Company had a return on equity of 4.38% and a net margin of 1.38%. The business had revenue of $264.59 million for the quarter, compared to the consensus estimate of $227.90 million. During the same period in the prior year, the business earned ($0.04) earnings per share. The business’s revenue was up 47.1% on a year-over-year basis. On average, equities analysts anticipate that Moelis & Company will post 1.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on MC. Morgan Stanley cut their price objective on Moelis & Company from $67.00 to $66.00 and set an “underweight” rating on the stock in a report on Thursday. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $60.00 price target (up previously from $54.00) on shares of Moelis & Company in a report on Thursday, July 25th. Wells Fargo & Company initiated coverage on shares of Moelis & Company in a report on Thursday, September 12th. They set an “equal weight” rating and a $70.00 price objective for the company. JPMorgan Chase & Co. lifted their target price on Moelis & Company from $50.00 to $51.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Finally, UBS Group boosted 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 investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the company. According to data from MarketBeat.com, Moelis & Company currently has an average rating of “Hold” and a consensus price target of $60.83.

Insider Activity

In other Moelis & Company news, Director Kenneth Shropshire sold 495 shares of the company’s stock in a transaction dated 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 directly owns 9,372 shares in the company, valued at $649,385.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, 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 transaction of $34,298.55. Following 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Kenneth Moelis sold 5,308 shares of the company’s stock in a transaction dated 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 in the company, 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 owned by insiders.

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.