Moelis & Company (NYSE:MC) Expected to Post Q3 2024 Earnings of $0.25 Per Share

Moelis & Company (NYSE:MC) – Research analysts at Seaport Res Ptn lowered their Q3 2024 earnings per share (EPS) estimates for Moelis & Company in a note issued to investors on Friday, April 26th. Seaport Res Ptn analyst J. Mitchell now expects that the asset manager will post earnings per share of $0.25 for the quarter, down from their prior forecast of $0.29. The consensus estimate for Moelis & Company’s current full-year earnings is $1.29 per share.

Moelis & Company (NYSE:MC) last announced its earnings results on Wednesday, April 24th. The asset manager reported $0.22 earnings per share for the quarter, topping analysts’ consensus estimates of $0.11 by $0.11. The business had revenue of $217.49 million during the quarter, compared to the consensus estimate of $219.30 million. Moelis & Company had a negative net margin of 1.33% and a negative return on equity of 0.12%. Moelis & Company’s quarterly revenue was up 17.4% on a year-over-year basis. During the same quarter last year, the firm earned $0.05 earnings per share.

Other equities analysts have also issued research reports about the stock. JMP Securities reiterated a “market perform” rating on shares of Moelis & Company in a report on Tuesday, April 9th. StockNews.com raised Moelis & Company from a “sell” rating to a “hold” rating in a research report on Thursday, February 8th. JPMorgan Chase & Co. increased their price objective on shares of Moelis & Company from $46.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. UBS Group lifted their target price on Moelis & Company from $45.00 to $47.00 and gave the stock a “sell” rating in a research note on Thursday, April 25th. Finally, The Goldman Sachs Group raised shares of Moelis & Company from a “sell” rating to a “neutral” rating and lifted their price target for the stock from $53.00 to $58.00 in a report on Wednesday, March 13th. Two analysts have rated the stock with a sell rating and five have issued a hold rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $50.80.

Moelis & Company Stock Performance

Shares of MC opened at $49.08 on Monday. Moelis & Company has a 52-week low of $33.87 and a 52-week high of $58.67. The business’s 50 day moving average price is $53.83 and its two-hundred day moving average price is $51.72. The firm has a market cap of $3.49 billion, a PE ratio of -258.32 and a beta of 1.35.

Institutional Trading of Moelis & Company

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Benjamin F. Edwards & Company Inc. increased its position in shares of Moelis & Company by 510.2% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 836 shares of the asset manager’s stock valued at $47,000 after acquiring an additional 699 shares during the period. Verity & Verity LLC bought a new position in shares of Moelis & Company in the 1st quarter worth approximately $284,000. Assenagon Asset Management S.A. purchased a new position in Moelis & Company during the first quarter valued at $1,492,000. Wesbanco Bank Inc. purchased a new position in Moelis & Company during the 1st quarter valued at about $557,000. Finally, KLR Investment Advisors LLC grew its stake in shares of Moelis & Company by 27.9% in the 1st quarter. KLR Investment Advisors LLC now owns 5,966 shares of the asset manager’s stock worth $318,000 after buying an additional 1,301 shares during the last quarter. Institutional investors own 91.53% of the company’s stock.

Insider Activity

In other news, Vice Chairman Eric Cantor sold 17,857 shares of the business’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $52.60, for a total transaction of $939,278.20. Following the completion of the transaction, the insider now owns 195,863 shares of the company’s stock, valued at $10,302,393.80. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, Vice Chairman Eric Cantor sold 17,857 shares of the company’s stock in a transaction dated Wednesday, February 21st. The stock was sold at an average price of $52.60, for a total value of $939,278.20. Following the completion of the transaction, the insider now directly owns 195,863 shares in the company, valued at approximately $10,302,393.80. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Joseph Simon sold 8,573 shares of the stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $54.13, for a total transaction of $464,056.49. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 375,185 shares of company stock worth $20,130,225. 6.96% of the stock is owned by company insiders.

Moelis & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Thursday, June 20th. Shareholders of record on Monday, May 6th will be paid a $0.60 dividend. The ex-dividend date is Friday, May 3rd. This represents a $2.40 annualized dividend and a yield of 4.89%. Moelis & Company’s dividend payout ratio is currently -1,263.16%.

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.