What is Seaport Res Ptn's Forecast for MC FY2024 Earnings?

Moelis & Company (NYSE:MC - Free Report) - Research analysts at Seaport Res Ptn lifted their FY2024 earnings estimates for Moelis & Company in a note issued to investors on Monday, January 13th. Seaport Res Ptn analyst J. Mitchell now expects that the asset manager will post earnings per share of $1.06 for the year, up from their previous estimate of $1.02. The consensus estimate for Moelis & Company's current full-year earnings is $0.96 per share. Seaport Res Ptn also issued estimates for Moelis & Company's Q4 2024 earnings at $0.44 EPS, Q2 2025 earnings at $0.44 EPS, Q3 2025 earnings at $0.68 EPS and Q4 2025 earnings at $0.90 EPS.

Moelis & Company (NYSE:MC - Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The asset manager reported $0.22 earnings per share for the quarter, topping the consensus estimate of $0.20 by $0.02. The company had revenue of $273.76 million for the quarter, compared to analysts' expectations of $273.58 million. Moelis & Company had a return on equity of 12.15% and a net margin of 4.22%. The firm's revenue for the quarter was up .6% on a year-over-year basis. During the same period in the previous year, the firm posted ($0.15) earnings per share.

A number of other analysts have also issued reports on the stock. Keefe, Bruyette & Woods raised shares of Moelis & Company from a "market perform" rating to an "outperform" rating and boosted their target price for the company from $71.00 to $86.00 in a research note on Friday, December 20th. Wells Fargo & Company dropped their target price on shares of Moelis & Company from $78.00 to $77.00 and set an "equal weight" rating on the stock in a report on Tuesday. Morgan Stanley upgraded Moelis & Company from an "underweight" rating to an "overweight" rating and upped their target price for the stock from $66.00 to $92.00 in a report on Monday, December 9th. Finally, UBS Group upped their price objective on Moelis & Company from $54.00 to $60.00 and gave the stock a "sell" rating in a research note on Tuesday, October 8th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $70.67.

Moelis & Company Stock Up 2.9 %

Moelis & Company stock traded up $2.07 during midday trading on Tuesday, reaching $72.79. The stock had a trading volume of 633,470 shares, compared to its average volume of 888,959. The firm has a market cap of $5.45 billion, a price-to-earnings ratio of 137.34 and a beta of 1.39. The company has a fifty day moving average of $74.81 and a 200 day moving average of $68.72. Moelis & Company has a 52-week low of $46.24 and a 52-week high of $81.60.

Institutional Investors Weigh In On Moelis & Company

A number of large investors have recently made changes to their positions in the stock. Reston Wealth Management LLC acquired a new position in shares of Moelis & Company in the 3rd quarter valued at about $26,000. GAMMA Investing LLC boosted its position in Moelis & Company by 115.8% during 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. raised its stake in shares of Moelis & Company by 193.0% during the 3rd quarter. Blue Trust Inc. now owns 1,081 shares of the asset manager's stock worth $74,000 after buying an additional 712 shares during the period. Whittier Trust Co. of Nevada Inc. acquired a new position in Moelis & Company during the third quarter worth $75,000. Finally, Benjamin F. Edwards & Company Inc. raised its holdings in shares of Moelis & Company by 75.2% during the second quarter. Benjamin F. Edwards & Company Inc. now owns 1,465 shares of the asset manager's stock valued at $83,000 after acquiring an additional 629 shares during the last quarter. 91.53% of the stock is owned by hedge funds and other institutional investors.

Moelis & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Monday, December 2nd. Stockholders of record on Monday, November 4th were issued a dividend of $0.60 per share. The ex-dividend date was Monday, November 4th. This represents a $2.40 annualized dividend and a dividend yield of 3.30%. Moelis & Company's dividend payout ratio (DPR) is currently 452.83%.

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.