Moelis & Company (MC) To Go Ex-Dividend on November 4th

Moelis & Company (NYSE:MC) declared a quarterly dividend on Wednesday, October 23rd, Wall Street Journal reports. Stockholders of record on Monday, November 4th will be paid a dividend of 0.60 per share by the asset manager on Monday, December 2nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend is Monday, November 4th.

Moelis & Company has increased its dividend by an average of 19.6% annually over the last three years. Moelis & Company has a payout ratio of 102.1% meaning the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities analysts expect Moelis & Company to earn $2.48 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 96.8%.

Moelis & Company Stock Up 0.8 %

NYSE:MC opened at $66.93 on Friday. Moelis & Company has a twelve month low of $40.68 and a twelve month high of $72.80. The company has a fifty day moving average of $67.72 and a 200-day moving average of $61.15. The firm has a market capitalization of $5.01 billion, a P/E ratio of 126.28 and a beta of 1.33.

Moelis & Company (NYSE:MC) last posted its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $0.22 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.02. Moelis & Company had a net margin of 4.22% and a return on equity of 12.15%. The firm had revenue of $273.76 million during the quarter, compared to the consensus estimate of $273.58 million. During the same period in the previous year, the firm posted ($0.15) earnings per share. The business’s revenue was up .6% compared to the same quarter last year. On average, analysts anticipate that Moelis & Company will post 0.97 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on MC shares. Morgan Stanley decreased their target price on Moelis & Company from $67.00 to $66.00 and set an “underweight” rating for the company in a research report on Thursday, October 24th. JPMorgan Chase & Co. upped their target price on Moelis & Company from $50.00 to $51.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. UBS Group increased their target price on Moelis & Company from $54.00 to $60.00 and gave the stock a “sell” rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $60.00 price target (up previously from $54.00) on shares of Moelis & Company in a research note on Thursday, July 25th. Finally, 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 on the stock. Two equities research analysts have rated the stock with a sell rating and six have given a hold rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $60.83.

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.