Moelis & Company (NYSE:MC) Announces Quarterly Earnings Results

Moelis & Company (NYSE:MC - Get Free Report) announced its quarterly earnings data on Wednesday. The asset manager reported $0.22 earnings per share for the quarter, beating analysts' consensus estimates of $0.20 by $0.02, Briefing.com reports. The firm had revenue of $273.76 million for the quarter, compared to analyst estimates of $273.58 million. Moelis & Company had a net margin of 1.38% and a return on equity of 4.38%. The business's quarterly revenue was up .6% compared to the same quarter last year. During the same period in the previous year, the company earned ($0.15) earnings per share.

Moelis & Company Price Performance

Shares of NYSE MC traded down $1.07 during midday trading on Friday, hitting $65.89. 1,228,048 shares of the company's stock were exchanged, compared to its average volume of 628,945. Moelis & Company has a twelve month low of $39.08 and a twelve month high of $72.80. The firm has a market cap of $4.93 billion, a P/E ratio of 439.27 and a beta of 1.33. The stock's 50 day moving average price is $67.53 and its 200-day moving average price is $60.69.

Moelis & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 4th will be issued 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 dividend payout ratio (DPR) is 1,600.00%.

Insider Activity

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

Analyst Upgrades and Downgrades

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