Perella Weinberg Partners (NASDAQ:PWP) Releases Earnings Results

Perella Weinberg Partners (NASDAQ:PWP) posted its earnings results on Friday. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.20 by $0.14, Briefing.com reports. The business had revenue of $278.20 million for the quarter, compared to analysts’ expectations of $196.42 million. Perella Weinberg Partners had a negative net margin of 15.75% and a positive return on equity of 56.85%. The business’s revenue for the quarter was up 100.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.12 EPS.

Perella Weinberg Partners Stock Performance

PWP traded up $0.55 on Friday, hitting $24.43. The company had a trading volume of 615,839 shares, compared to its average volume of 281,886. The stock has a market capitalization of $2.10 billion, a price-to-earnings ratio of -8.48 and a beta of 1.49. The stock has a fifty day moving average price of $20.16 and a 200-day moving average price of $17.78. Perella Weinberg Partners has a 12-month low of $10.12 and a 12-month high of $25.10.

Perella Weinberg Partners Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be given a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a yield of 1.15%. The ex-dividend date is Wednesday, December 4th. Perella Weinberg Partners’s dividend payout ratio (DPR) is -9.72%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. JMP Securities upped 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 report on Wednesday, October 9th. Keefe, Bruyette & Woods boosted their price target on Perella Weinberg Partners from $18.00 to $19.00 and gave the stock an “outperform” rating in a report 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.