Moelis & Company (NYSE:MC) Issues Earnings Results

Moelis & Company (NYSE:MC) announced its quarterly earnings data on Wednesday. The asset manager reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.07, Briefing.com reports. Moelis & Company had a negative return on equity of 0.12% and a negative net margin of 1.33%. The firm had revenue of $264.59 million during the quarter, compared to analysts’ expectations of $227.90 million. During the same quarter last year, the firm posted ($0.04) earnings per share. The company’s revenue for the quarter was up 47.1% compared to the same quarter last year.

Moelis & Company Price Performance

NYSE MC traded up $4.03 during trading on Thursday, reaching $66.82. The company’s stock had a trading volume of 1,634,549 shares, compared to its average volume of 612,148. The stock has a market capitalization of $5.00 billion, a PE ratio of -351.42 and a beta of 1.35. The firm has a fifty day moving average of $57.20 and a 200 day moving average of $55.22. Moelis & Company has a one year low of $38.58 and a one year high of $68.50.

Moelis & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Monday, August 5th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Monday, August 5th. This represents a $2.40 dividend on an annualized basis and a yield of 3.59%. Moelis & Company’s dividend payout ratio is currently -1,263.16%.

Analyst Ratings Changes

Several research analysts recently issued reports on MC shares. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $60.00 target price (up previously from $54.00) on shares of Moelis & Company in a research report on Thursday. Morgan Stanley lifted their target price on Moelis & Company from $51.00 to $61.00 and gave the company an “underweight” rating in a research report on Tuesday. JPMorgan Chase & Co. lifted their target price on Moelis & Company from $50.00 to $51.00 and gave the company a “neutral” rating in a research report on Thursday. JMP Securities reaffirmed a “market perform” rating on shares of Moelis & Company in a research report on Tuesday, April 9th. Finally, UBS Group lifted their target price on Moelis & Company from $47.00 to $50.00 and gave the company a “sell” rating in a research report on Tuesday, July 9th. Two research analysts have rated the stock with a sell rating and five have issued a hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $56.00.

Insiders Place Their Bets

In other Moelis & Company news, CEO Kenneth Moelis sold 40,000 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $53.98, for a total value of $2,159,200.00. Following the transaction, the chief executive officer now directly owns 42,441 shares in the company, valued at approximately $2,290,965.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, CEO Kenneth Moelis sold 40,000 shares of the company’s stock in a transaction dated Thursday, May 9th. The stock was sold at an average price of $53.98, for a total value of $2,159,200.00. Following the completion of the transaction, the chief executive officer now directly owns 42,441 shares in the company, valued at approximately $2,290,965.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Navid Mahmoodzadegan sold 44,980 shares of the company’s stock in a transaction dated Monday, May 13th. The stock was sold at an average price of $54.92, for a total value of $2,470,301.60. The disclosure for this sale can be found here. Corporate insiders own 6.40% of the company’s stock.

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.