Seaport Res Ptn Has Bullish Forecast for MC FY2024 Earnings

Moelis & Company (NYSE:MC - Free Report) - Analysts at Seaport Res Ptn boosted their FY2024 earnings per share estimates for Moelis & Company in a research report issued on Thursday, October 24th. Seaport Res Ptn analyst J. Mitchell now expects that the asset manager will post earnings of $1.02 per share for the year, up from their previous forecast of $1.00. The consensus estimate for Moelis & Company's current full-year earnings is $0.98 per share. Seaport Res Ptn also issued estimates for Moelis & Company's Q1 2025 earnings at $0.33 EPS, Q2 2026 earnings at $0.67 EPS, Q3 2026 earnings at $0.71 EPS and FY2026 earnings at $3.05 EPS.

Several other research firms have also recently weighed in on MC. Wells Fargo & Company assumed coverage on shares of Moelis & Company in a research note on Thursday, September 12th. They set an "equal weight" rating and a $70.00 target price for the company. UBS Group raised their price objective on Moelis & Company from $54.00 to $60.00 and gave the company a "sell" rating in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $60.00 target price (up from $54.00) on shares of Moelis & Company in a research report on Thursday, July 25th. JPMorgan Chase & Co. raised their price target on Moelis & Company from $50.00 to $51.00 and gave the company a "neutral" rating in a report on Thursday, July 25th. Finally, Morgan Stanley reduced their price objective on Moelis & Company from $67.00 to $66.00 and set an "underweight" rating on the stock in a research note on Thursday. Two equities research analysts have rated the stock with a sell rating and six have assigned a hold rating to the company's stock. Based on data from MarketBeat.com, Moelis & Company currently has a consensus rating of "Hold" and an average price target of $60.83.

Moelis & Company Price Performance

Moelis & Company stock opened at $65.89 on Monday. Moelis & Company has a 1 year low of $39.08 and a 1 year high of $72.80. The firm's 50 day moving average price is $67.53 and its 200-day moving average price is $60.76. The stock has a market cap of $4.93 billion, a P/E ratio of -346.79 and a beta of 1.33.

Moelis & Company (NYSE:MC - Get Free Report) last posted its quarterly earnings results on Wednesday, October 23rd. The asset manager reported $0.22 EPS for the quarter, topping analysts' consensus estimates of $0.20 by $0.02. Moelis & Company had a return on equity of 4.38% and a net margin of 1.38%. The company had revenue of $273.76 million for the quarter, compared to analysts' expectations of $273.58 million. During the same period in the previous year, the firm earned ($0.15) EPS. The firm's revenue was up .6% compared to the same quarter last year.

Moelis & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 4th will be paid a $0.60 dividend. This represents a $2.40 annualized dividend and a dividend yield of 3.64%. The ex-dividend date is Monday, November 4th. Moelis & Company's payout ratio is -1,263.16%.

Insider Activity

In related news, CEO Kenneth Moelis sold 5,308 shares of the stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $68.87, for a total transaction of $365,561.96. Following the sale, 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 position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. In related news, CEO Kenneth Moelis sold 5,308 shares of Moelis & Company 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 of the company's stock, valued at approximately $5,922.82. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Kenneth Shropshire sold 495 shares of the company's stock in a transaction dated Wednesday, July 31st. The shares were sold at an average price of $69.29, for a total transaction of $34,298.55. Following the transaction, the director now owns 9,372 shares in the company, valued at $649,385.88. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 6.40% of the company's stock.

Institutional Investors Weigh In On Moelis & Company

Institutional investors and hedge funds have recently bought and sold shares of the company. UMB Bank n.a. increased its holdings in shares of Moelis & Company by 63.5% in the 2nd quarter. UMB Bank n.a. now owns 497 shares of the asset manager's stock valued at $28,000 after acquiring an additional 193 shares during the period. Hexagon Capital Partners LLC grew its stake in Moelis & Company by 147.9% in the first quarter. Hexagon Capital Partners LLC now owns 657 shares of the asset manager's stock valued at $37,000 after purchasing an additional 392 shares during the last quarter. GAMMA Investing LLC raised its holdings in Moelis & Company by 115.8% in the third quarter. GAMMA Investing LLC now owns 995 shares of the asset manager's stock worth $68,000 after purchasing an additional 534 shares in the last quarter. Blue Trust Inc. lifted its position in shares of Moelis & Company by 193.0% during the third quarter. Blue Trust Inc. now owns 1,081 shares of the asset manager's stock valued at $74,000 after buying an additional 712 shares during the last quarter. Finally, Whittier Trust Co. of Nevada Inc. bought a new stake in shares of Moelis & Company in the 3rd quarter valued at about $75,000. 91.53% of the stock is owned by institutional investors.

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.