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

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

Moelis & Company Trading Down 1.6 %

Shares of Moelis & Company stock traded down $1.07 on Friday, reaching $65.89. 1,228,214 shares of the company were exchanged, compared to its average volume of 628,945. Moelis & Company has a fifty-two week low of $39.08 and a fifty-two week high of $72.80. The firm has a market capitalization of $4.93 billion, a price-to-earnings ratio of 439.27 and a beta of 1.33. The stock has a fifty day moving average price of $67.53 and a 200-day moving average price of $60.69.

Moelis & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors 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 dividend yield of 3.64%. The ex-dividend date of this dividend is Monday, November 4th. Moelis & Company’s payout ratio is 1,600.00%.

Insiders Place Their Bets

In related news, CEO Kenneth Moelis sold 5,308 shares of the stock in a transaction dated Tuesday, July 30th. The stock was 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 directly owns 86 shares of the company’s stock, 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 is accessible through this hyperlink. In related news, CEO Kenneth Moelis sold 5,308 shares of Moelis & Company stock in a transaction 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 sale, the chief executive officer now owns 86 shares of the company’s stock, valued at approximately $5,922.82. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, 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 completion of the transaction, the director now directly owns 9,372 shares in the company, valued at approximately $649,385.88. The trade was 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.

Analysts Set New Price Targets

MC has been the subject of several recent research reports. Wells Fargo & Company assumed coverage on shares of Moelis & Company in a research note on Thursday, September 12th. They set an “equal weight” rating and a $70.00 target price for the company. 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 note on Thursday, July 25th. Morgan Stanley decreased their target price on Moelis & Company from $67.00 to $66.00 and set an “underweight” rating for the company in a research note on Thursday. UBS Group raised their price target on Moelis & Company from $54.00 to $60.00 and gave the stock a “sell” rating in a report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. increased 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. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $60.83.

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.