Perella Weinberg Partners (NASDAQ:PWP) Announces $0.07 Quarterly Dividend

Perella Weinberg Partners (NASDAQ:PWP) announced a quarterly dividend on Friday, November 8th,Zacks Dividends reports. Shareholders of record on Wednesday, December 4th will be paid a dividend of 0.07 per share on Wednesday, December 18th. This represents a $0.28 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date of this dividend is Wednesday, December 4th.

Perella Weinberg Partners has a payout ratio of 20.7% indicating that its dividend is sufficiently covered by earnings.

Perella Weinberg Partners Price Performance

Shares of Perella Weinberg Partners stock traded up $0.55 during trading hours on Friday, reaching $24.43. The company’s stock had a trading volume of 615,839 shares, compared to its average volume of 281,886. The firm has a 50 day moving average price of $20.16 and a 200-day moving average price of $17.78. Perella Weinberg Partners has a one year low of $10.12 and a one year high of $25.10. The stock has a market cap of $2.10 billion, a P/E ratio of -8.48 and a beta of 1.49.

Perella Weinberg Partners (NASDAQ:PWP) last posted its earnings results on Friday, November 8th. The company reported $0.34 earnings per share for the quarter, topping analysts’ consensus estimates of $0.20 by $0.14. Perella Weinberg Partners had a negative net margin of 15.75% and a positive return on equity of 56.85%. The firm had revenue of $278.20 million for the quarter, compared to the consensus estimate of $196.42 million. During the same period in the previous year, the firm posted $0.12 EPS. The business’s quarterly revenue was up 100.1% on a year-over-year basis.

Wall Street Analysts Forecast Growth

PWP has been the subject of a number of recent analyst reports. JMP Securities lifted their price target on shares of Perella Weinberg Partners from $22.00 to $26.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods lifted their price target on shares of Perella Weinberg Partners from $18.00 to $19.00 and gave the stock an “outperform” rating in a research note on Friday, July 12th.

About Perella Weinberg Partners

Perella Weinberg Partners, an independent investment banking company, provides strategic and financial advice services in the United States and internationally. The company offers advisory services related to strategic and financial decisions, mergers and acquisition execution, shareholder and defense advisory, and financing and capital solutions advice with resources focused on restructuring, liability management, and capital markets advisory, as well as underwriting and research services primarily for the energy and related industries.