Moelis & Company (NYSE:MC) Posts Quarterly Earnings Results, Beats Expectations By $0.02 EPS

Moelis & Company (NYSE:MC) released its quarterly earnings data on Wednesday. The asset manager reported $0.22 EPS for the quarter, beating the consensus estimate of $0.20 by $0.02, Briefing.com reports. The business had revenue of $273.76 million for the quarter, compared to the consensus estimate of $273.58 million. Moelis & Company had a net margin of 1.38% and a return on equity of 4.38%. The business’s revenue for the quarter was up .6% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.15) EPS.

Moelis & Company Trading Down 1.6 %

NYSE:MC traded down $1.07 during trading hours on Friday, reaching $65.89. 1,228,048 shares of the company were exchanged, compared to its average volume of 628,944. The stock’s 50-day moving average is $67.51 and its 200-day moving average is $60.62. The firm has a market cap of $4.93 billion, a PE ratio of 442.20 and a beta of 1.33. Moelis & Company has a twelve month low of $39.08 and a twelve month high of $72.80.

Moelis & Company Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 4th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date is Monday, November 4th. Moelis & Company’s dividend payout ratio is presently 1,600.00%.

Insiders Place Their Bets

In other Moelis & Company news, Director Kenneth Shropshire sold 495 shares of the company’s stock in a transaction on Wednesday, July 31st. The shares were sold at an average price of $69.29, for a total transaction of $34,298.55. Following the completion of the transaction, the director now directly owns 9,372 shares in the company, valued at approximately $649,385.88. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Kenneth Moelis sold 5,308 shares of the stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $68.87, for a total value of $365,561.96. Following the completion of the sale, the chief executive officer now directly owns 86 shares in the company, valued at $5,922.82. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Kenneth Shropshire sold 495 shares of the 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 completion of the sale, the director now owns 9,372 shares of the company’s stock, valued at $649,385.88. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by company insiders.

Analyst Ratings Changes

Several analysts have recently commented on the stock. Morgan Stanley dropped their price objective on shares of Moelis & Company from $67.00 to $66.00 and set an “underweight” rating on the stock in a report on Thursday. Wells Fargo & Company assumed coverage on shares of Moelis & Company in a report on Thursday, September 12th. They set an “equal weight” rating and a $70.00 price target on the stock. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $60.00 price target (up from $54.00) on shares of Moelis & Company in a report on Thursday, July 25th. UBS Group increased their price target on shares of Moelis & Company from $54.00 to $60.00 and gave the stock a “sell” rating in a report on Tuesday, October 8th. Finally, JPMorgan Chase & Co. increased 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. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $60.83.

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.