Moelis & Co (NYSE:MC) declared a quarterly dividend on Wednesday, July 29th, Zacks reports. Shareholders of record on Monday, August 10th will be paid a dividend of 0.255 per share by the asset manager on Wednesday, September 30th. This represents a $1.02 dividend on an annualized basis and a yield of 3.45%. The ex-dividend date of this dividend is Friday, August 7th.
Moelis & Co has raised its dividend payment by an average of 61.3% per year over the last three years and has raised its dividend annually for the last 5 consecutive years. Moelis & Co has a dividend payout ratio of 87.9% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings tumble. Analysts expect Moelis & Co to earn $2.01 per share next year, which means the company should continue to be able to cover its $1.02 annual dividend with an expected future payout ratio of 50.7%.
MC stock traded down $0.29 during mid-day trading on Friday, reaching $29.55. The company had a trading volume of 2,809 shares, compared to its average volume of 539,005. The company has a debt-to-equity ratio of 0.55, a current ratio of 5.21 and a quick ratio of 5.21. The company has a market capitalization of $1.89 billion, a PE ratio of 20.58 and a beta of 1.53. The firm has a 50 day moving average of $31.89 and a 200 day moving average of $31.86. Moelis & Co has a 12 month low of $22.11 and a 12 month high of $41.27.
Moelis & Co (NYSE:MC) last issued its earnings results on Wednesday, July 29th. The asset manager reported ($0.11) EPS for the quarter, missing the Zacks’ consensus estimate of $0.04 by ($0.15). The company had revenue of $159.90 million during the quarter, compared to the consensus estimate of $146.57 million. Moelis & Co had a return on equity of 27.53% and a net margin of 10.60%. Moelis & Co’s revenue was up 4.2% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.56 earnings per share. Analysts anticipate that Moelis & Co will post 0.35 EPS for the current year.
A number of equities analysts have commented on the stock. JPMorgan Chase & Co. downgraded shares of Moelis & Co from a “neutral” rating to an “underweight” rating and upped their target price for the stock from $20.00 to $26.00 in a research note on Tuesday, July 7th. Goldman Sachs Group downgraded shares of Moelis & Co from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $34.00 to $27.00 in a research note on Monday, July 13th. Piper Sandler dropped their price objective on shares of Moelis & Co from $32.00 to $31.00 and set a “neutral” rating on the stock in a research note on Thursday. TheStreet upgraded shares of Moelis & Co from a “c+” rating to a “b-” rating in a research note on Thursday, June 18th. Finally, Wolfe Research began coverage on shares of Moelis & Co in a research note on Wednesday, July 22nd. They set an “underperform” rating and a $19.00 price objective on the stock. Three equities research analysts have rated the stock with a sell rating, five have issued a hold rating and three have assigned a buy rating to the company. Moelis & Co has an average rating of “Hold” and an average price target of $30.80.
In other Moelis & Co news, insider Navid Mahmoodzadegan sold 72,632 shares of the firm’s stock in a transaction that occurred on Wednesday, May 27th. The shares were sold at an average price of $33.47, for a total value of $2,430,993.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Jeffrey Raich sold 1,500 shares of the firm’s stock in a transaction that occurred on Friday, May 8th. The shares were sold at an average price of $30.76, for a total transaction of $46,140.00. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 105,278 shares of company stock valued at $3,431,265. 17.99% of the stock is owned by insiders.
About Moelis & Co
Moelis & Company, an investment bank, provides strategic and financial advisory services in the United States and internationally. It advises clients in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets advisory, and other corporate finance matters. The company offers its services to public multinational corporations, governments, financial sponsors, middle market private companies, and individual entrepreneurs.
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