Perella Weinberg Partners (NASDAQ:PWP) Announces Quarterly Earnings Results

Perella Weinberg Partners (NASDAQ:PWP) announced its quarterly earnings results on Friday. The company reported $0.34 earnings per share for the quarter, beating analysts’ consensus estimates of $0.20 by $0.14, Briefing.com reports. The business had revenue of $278.20 million during the quarter, compared to analysts’ expectations of $196.42 million. Perella Weinberg Partners had a negative net margin of 15.75% and a positive return on equity of 56.85%. The business’s revenue for the quarter was up 100.1% on a year-over-year basis. During the same period last year, the business earned $0.12 earnings per share.

Perella Weinberg Partners Trading Up 2.3 %

Shares of PWP stock traded up $0.55 on Friday, reaching $24.43. 615,839 shares of the stock were exchanged, compared to its average volume of 281,886. The company has a market capitalization of $2.10 billion, a price-to-earnings ratio of -8.48 and a beta of 1.49. The business’s 50 day moving average price is $20.16 and its 200 day moving average price is $17.78. Perella Weinberg Partners has a twelve month low of $10.12 and a twelve month high of $25.10.

Perella Weinberg Partners Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.15%. The ex-dividend date is Wednesday, December 4th. Perella Weinberg Partners’s dividend payout ratio is presently -9.72%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on PWP shares. JMP Securities lifted their price objective on Perella Weinberg Partners from $22.00 to $26.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods raised their price target on shares of Perella Weinberg Partners from $18.00 to $19.00 and gave the company an “outperform” rating in a research report on Friday, July 12th.

Perella Weinberg Partners Company Profile

Perella Weinberg Partners, an independent investment banking company, provides strategic and financial advice services in the United States and internationally. The company offers advisory services related to strategic and financial decisions, mergers and acquisition execution, shareholder and defense advisory, and financing and capital solutions advice with resources focused on restructuring, liability management, and capital markets advisory, as well as underwriting and research services primarily for the energy and related industries.