Perella Weinberg Partners (NASDAQ:PWP) Announces Earnings Results, Beats Estimates By $0.14 EPS

Perella Weinberg Partners (NASDAQ:PWP) announced its quarterly earnings data 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. Perella Weinberg Partners had a negative net margin of 15.75% and a positive return on equity of 56.85%. The company had revenue of $278.20 million for the quarter, compared to analysts’ expectations of $196.42 million. During the same period in the previous year, the company posted $0.12 EPS. Perella Weinberg Partners’s revenue was up 100.1% compared to the same quarter last year.

Perella Weinberg Partners Price Performance

Shares of PWP stock traded up $0.55 during midday trading on Friday, reaching $24.43. 615,839 shares of the company traded hands, compared to its average volume of 281,886. The firm’s 50 day simple moving average is $20.16 and its two-hundred day simple moving average is $17.78. The firm has a market cap of $2.10 billion, a PE ratio of -8.48 and a beta of 1.49. Perella Weinberg Partners has a 1-year low of $10.12 and a 1-year high of $25.10.

Perella Weinberg Partners Announces Dividend

The business 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. The ex-dividend date is Wednesday, December 4th. This represents a $0.28 annualized dividend and a yield of 1.15%. Perella Weinberg Partners’s payout ratio is currently -9.72%.

Analyst Upgrades and Downgrades

Several research analysts recently issued reports on the stock. Keefe, Bruyette & Woods increased their price target on shares of Perella Weinberg Partners from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Friday, July 12th. JMP Securities raised their price target on Perella Weinberg Partners from $22.00 to $26.00 and gave the company a “market outperform” rating in a report on Wednesday, October 9th.

Perella Weinberg Partners Company Profile

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.