Perella Weinberg Partners (NASDAQ:PWP) Issues Earnings Results

Perella Weinberg Partners (NASDAQ:PWP) posted its quarterly earnings data on Friday. The company reported $0.34 earnings per share for the quarter, beating the consensus estimate of $0.20 by $0.14, Briefing.com reports. Perella Weinberg Partners had a positive return on equity of 56.85% and a negative net margin of 15.75%. The business had revenue of $278.20 million during the quarter, compared to the consensus estimate of $196.42 million. During the same period in the prior year, the company earned $0.12 earnings per share. The company’s revenue was up 100.1% compared to the same quarter last year.

Perella Weinberg Partners Stock Performance

PWP traded up $0.55 during trading on Friday, hitting $24.43. The stock had a trading volume of 615,839 shares, compared to its average volume of 281,886. Perella Weinberg Partners has a twelve month low of $10.12 and a twelve month high of $25.10. The firm has a market capitalization of $2.10 billion, a P/E ratio of -8.48 and a beta of 1.49. The company’s 50-day moving average price is $20.16 and its 200 day moving average price is $17.78.

Perella Weinberg Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, December 18th. Investors of record on Wednesday, December 4th will be given a $0.07 dividend. The ex-dividend date is Wednesday, December 4th. This represents a $0.28 dividend on an annualized basis and a yield of 1.15%. Perella Weinberg Partners’s dividend payout ratio (DPR) is -9.72%.

Analyst Upgrades and Downgrades

Several research analysts have issued reports on PWP shares. JMP Securities raised their price objective on shares of Perella Weinberg Partners from $22.00 to $26.00 and gave the stock a “market outperform” rating in a research report on Wednesday, October 9th. Keefe, Bruyette & Woods raised their price target on Perella Weinberg Partners from $18.00 to $19.00 and gave the stock an “outperform” rating in a report on Friday, July 12th.

Perella Weinberg Partners Company Profile

Perella Weinberg Partners, an independent investment banking company, provides strategic and financial advice services in the United States and internationally. The company offers advisory services related to strategic and financial decisions, mergers and acquisition execution, shareholder and defense advisory, and financing and capital solutions advice with resources focused on restructuring, liability management, and capital markets advisory, as well as underwriting and research services primarily for the energy and related industries.