Moelis & Company (NYSE:MC) Releases Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Moelis & Company (NYSE:MC) issued its quarterly earnings results on Wednesday. The asset manager reported $0.22 EPS for the quarter, topping the consensus estimate of $0.20 by $0.02, Briefing.com reports. Moelis & Company had a net margin of 1.38% and a return on equity of 4.38%. The company had revenue of $273.76 million during the quarter, compared to analysts’ expectations of $273.58 million. During the same quarter in the previous year, the company earned ($0.15) EPS. Moelis & Company’s revenue was up .6% on a year-over-year basis.

Moelis & Company Stock Down 1.6 %

MC traded down $1.07 during trading hours on Friday, hitting $65.89. 1,228,048 shares of the company’s stock were exchanged, compared to its average volume of 628,944. Moelis & Company has a 1-year low of $39.08 and a 1-year high of $72.80. The stock’s 50-day moving average is $67.51 and its two-hundred day moving average is $60.62. The stock has a market cap of $4.93 billion, a price-to-earnings ratio of 442.20 and a beta of 1.33.

Moelis & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 4th will be issued a dividend of $0.60 per share. This represents a $2.40 annualized dividend and a yield of 3.64%. The ex-dividend date is Monday, November 4th. Moelis & Company’s payout ratio is 1,600.00%.

Analysts Set New Price Targets

MC has been the subject of several analyst reports. Morgan Stanley lowered their price target on shares of Moelis & Company from $67.00 to $66.00 and set an “underweight” rating for the company in a research report on Thursday. UBS Group boosted their price objective on shares of Moelis & Company from $54.00 to $60.00 and gave the company a “sell” rating in a report on Tuesday, October 8th. Wells Fargo & Company began coverage on shares of Moelis & Company in a report on Thursday, September 12th. They set an “equal weight” rating and a $70.00 price objective for the company. JPMorgan Chase & Co. boosted their price objective on shares of Moelis & Company from $50.00 to $51.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Finally, Keefe, Bruyette & Woods restated a “market perform” rating and set a $60.00 price objective (up previously from $54.00) on shares of Moelis & Company in a report on Thursday, July 25th. Two research analysts have rated the stock with a sell rating and six have given a hold rating to the company’s stock. According to data from MarketBeat, Moelis & Company presently has a consensus rating of “Hold” and an average price target of $60.83.

Insider Buying and Selling

In related news, CEO Kenneth Moelis sold 5,308 shares of the stock in a transaction on Tuesday, July 30th. The shares were sold at an average price of $68.87, for a total transaction of $365,561.96. Following the completion of the transaction, the chief executive officer now owns 86 shares in the company, valued at approximately $5,922.82. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In other news, Director Kenneth Shropshire sold 495 shares of the stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $69.29, for a total value of $34,298.55. Following the transaction, the director now directly owns 9,372 shares of the company’s stock, valued at $649,385.88. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kenneth Moelis sold 5,308 shares of the stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $68.87, for a total transaction of $365,561.96. Following the completion of the transaction, the chief executive officer now directly owns 86 shares in the company, valued at $5,922.82. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by corporate insiders.

Moelis & Company Company Profile

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.