Zacks Research Has Bearish Estimate for MC FY2024 Earnings

Moelis & Company (NYSE:MC - Free Report) - Equities research analysts at Zacks Research cut their FY2024 EPS estimates for shares of Moelis & Company in a research report issued to clients and investors on Tuesday, November 12th. Zacks Research analyst R. Department now forecasts that the asset manager will post earnings per share of $0.92 for the year, down from their prior estimate of $0.96. The consensus estimate for Moelis & Company's current full-year earnings is $0.97 per share. Zacks Research also issued estimates for Moelis & Company's Q4 2024 earnings at $0.30 EPS, Q1 2025 earnings at $0.41 EPS, FY2025 earnings at $2.35 EPS, Q1 2026 earnings at $0.74 EPS, Q2 2026 earnings at $0.76 EPS, Q3 2026 earnings at $0.81 EPS and FY2026 earnings at $3.11 EPS.

Several other research analysts also recently weighed in on MC. UBS Group upped their price target on shares of Moelis & Company from $54.00 to $60.00 and gave the stock a "sell" rating in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods reiterated a "market perform" rating and issued a $60.00 price objective (up previously from $54.00) on shares of Moelis & Company in a report on Thursday, July 25th. JPMorgan Chase & Co. increased their price objective on shares of Moelis & Company from $50.00 to $51.00 and gave the company a "neutral" rating in a report on Thursday, July 25th. Wells Fargo & Company started coverage on shares of Moelis & Company in a report on Thursday, September 12th. They issued an "equal weight" rating and a $70.00 price objective for the company. Finally, Morgan Stanley cut their price objective on shares of Moelis & Company from $67.00 to $66.00 and set an "underweight" rating for the company in a report on Thursday, October 24th. Two investment analysts have rated the stock with a sell rating and six have assigned a hold rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $60.83.

Moelis & Company Stock Up 0.8 %

Shares of MC stock traded up $0.57 during mid-day trading on Thursday, hitting $75.93. 178,624 shares of the stock were exchanged, compared to its average volume of 636,287. The firm has a fifty day moving average of $69.04 and a 200 day moving average of $62.50. Moelis & Company has a 52-week low of $44.02 and a 52-week high of $81.60. The company has a market cap of $5.69 billion, a PE ratio of 142.08 and a beta of 1.33.

Moelis & Company (NYSE:MC - Get Free Report) last issued its 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 12.15% and a net margin of 4.22%. The firm had revenue of $273.76 million for the quarter, compared to the consensus estimate of $273.58 million. During the same quarter in the prior year, the business earned ($0.15) earnings per share. The company's revenue was up .6% compared to the same quarter last year.

Moelis & Company Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Investors of record on Monday, November 4th will be given a dividend of $0.60 per share. The ex-dividend date of this dividend is Monday, November 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.16%. Moelis & Company's payout ratio is currently 452.83%.

Hedge Funds Weigh In On Moelis & Company

A number of hedge funds have recently made changes to their positions in the stock. Kayne Anderson Rudnick Investment Management LLC boosted its position in shares of Moelis & Company by 0.7% during the 2nd quarter. Kayne Anderson Rudnick Investment Management LLC now owns 7,190,221 shares of the asset manager's stock worth $408,836,000 after purchasing an additional 47,365 shares during the period. Lord Abbett & CO. LLC boosted its position in Moelis & Company by 5.2% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,118,245 shares of the asset manager's stock valued at $63,483,000 after buying an additional 55,402 shares during the period. Charles Schwab Investment Management Inc. boosted its position in Moelis & Company by 1.9% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 922,920 shares of the asset manager's stock valued at $63,229,000 after buying an additional 16,830 shares during the period. Natixis Advisors LLC boosted its position in Moelis & Company by 13.7% in the 3rd quarter. Natixis Advisors LLC now owns 804,860 shares of the asset manager's stock valued at $55,141,000 after buying an additional 96,720 shares during the period. Finally, Bank of New York Mellon Corp boosted its position in Moelis & Company by 4.1% in the 2nd quarter. Bank of New York Mellon Corp now owns 755,541 shares of the asset manager's stock valued at $42,960,000 after buying an additional 29,532 shares during the period. Hedge funds and other institutional investors own 91.53% of the company's stock.

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.