Moelis & Company (NYSE:MC) Issues Earnings Results

Moelis & Company (NYSE:MC) posted its earnings results on Tuesday. The asset manager reported $1.19 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.83 by $0.36, MarketWatch Earnings reports. Moelis & Company had a net margin of 20.91% and a return on equity of 56.19%. The firm had revenue of $360.91 million for the quarter, compared to analyst estimates of $274.36 million. During the same period in the previous year, the firm posted ($0.11) EPS. The company’s revenue for the quarter was up 125.7% compared to the same quarter last year.

Shares of Moelis & Company stock traded up $3.31 during trading on Thursday, reaching $60.00. 12,070 shares of the company traded hands, compared to its average volume of 454,098. Moelis & Company has a 1-year low of $28.77 and a 1-year high of $59.63. The company has a 50 day moving average price of $54.37. The company has a market cap of $3.84 billion, a price-to-earnings ratio of 17.69 and a beta of 1.21.

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 18th. Investors of record on Monday, May 10th were given a dividend of $0.55 per share. The ex-dividend date was Friday, May 7th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.67%. Moelis & Company’s payout ratio is presently 75.60%.

In related news, CEO Kenneth Moelis sold 18,184 shares of the business’s stock in a transaction on Friday, April 23rd. The shares were sold at an average price of $57.11, for a total transaction of $1,038,488.24. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders have sold a total of 30,051 shares of company stock worth $1,715,368 in the last quarter. 17.99% of the stock is owned by corporate insiders.

A number of research firms have weighed in on MC. JMP Securities reissued a “market perform” rating on shares of Moelis & Company in a report on Thursday, April 15th. Morgan Stanley boosted their price target on shares of Moelis & Company from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Thursday. Wolfe Research upgraded shares of Moelis & Company from an “underperform” rating to a “peer perform” rating and set a $63.00 price target on the stock in a research report on Thursday, June 17th. Finally, Zacks Investment Research downgraded shares of Moelis & Company from a “buy” rating to a “hold” rating and set a $58.00 price target on the stock. in a research report on Wednesday, June 9th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and one has issued a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus price target of $51.56.

About Moelis & Company

Moelis & Company operates as an investment banking advisory firm in the United States, Europe, and internationally. It offers advisory services in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets transactions, and other corporate finance matters. The company offers its services to public multinational corporations, middle market private companies, financial sponsors, entrepreneurs, and governments.

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Earnings History for Moelis & Company (NYSE:MC)

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