Moelis & Company (NYSE:MC) Releases Quarterly Earnings Results, Beats Expectations By $0.79 EPS

Moelis & Company (NYSE:MC) announced its earnings results on Wednesday. The asset manager reported $1.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.39 by $0.79, Zacks reports. Moelis & Company had a net margin of 4.22% and a return on equity of 12.15%.

Moelis & Company Trading Up 1.2 %

MC stock traded up $0.93 during mid-day trading on Thursday, reaching $80.61. 758,286 shares of the stock traded hands, compared to its average volume of 716,883. The stock’s fifty day moving average is $75.40 and its 200-day moving average is $70.67. The company has a market cap of $6.04 billion, a P/E ratio of 151.66 and a beta of 1.40. Moelis & Company has a 52-week low of $46.24 and a 52-week high of $82.89.

Analyst Ratings Changes

A number of research firms have recently weighed in on MC. Morgan Stanley upped their price target on shares of Moelis & Company from $95.00 to $100.00 and gave the stock an “overweight” rating in a research note on Thursday. Wells Fargo & Company raised their target price on shares of Moelis & Company from $77.00 to $83.00 and gave the stock an “equal weight” rating in a research report on Thursday. Keefe, Bruyette & Woods reaffirmed an “outperform” rating and issued a $92.00 price objective (up from $86.00) on shares of Moelis & Company in a research note on Thursday. Finally, JMP Securities reaffirmed a “market perform” rating on shares of Moelis & Company in a research report on Thursday. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, Moelis & Company presently has a consensus rating of “Hold” and an average target price of $74.00.

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.