Perella Weinberg Partners (NASDAQ:PWP) Declares $0.07 Quarterly Dividend

Perella Weinberg Partners (NASDAQ:PWP) declared a quarterly dividend on Friday, November 8th,Zacks Dividends reports. Stockholders of record on Wednesday, December 4th will be paid a dividend of 0.07 per share on Wednesday, December 18th. This represents a $0.28 annualized dividend and a dividend yield of 1.15%. The ex-dividend date of this dividend is Wednesday, December 4th.

Perella Weinberg Partners has a payout ratio of 20.7% indicating that its dividend is sufficiently covered by earnings.

Perella Weinberg Partners Stock Performance

PWP stock opened at $24.43 on Friday. The company’s 50 day moving average price is $20.16 and its 200 day moving average price is $17.79. The firm has a market capitalization of $2.10 billion, a price-to-earnings ratio of -8.48 and a beta of 1.49. Perella Weinberg Partners has a fifty-two week low of $10.12 and a fifty-two week high of $25.10.

Perella Weinberg Partners (NASDAQ:PWP) last posted its quarterly earnings results on Friday, November 8th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.20 by $0.14. Perella Weinberg Partners had a negative net margin of 15.75% and a positive return on equity of 56.85%. The company had revenue of $278.20 million during the quarter, compared to analysts’ expectations of $196.42 million. During the same quarter in the previous year, the business posted $0.12 EPS. The firm’s revenue was up 100.1% on a year-over-year basis.

Wall Street Analysts Forecast Growth

Separately, JMP Securities raised their price target on Perella Weinberg Partners from $22.00 to $26.00 and gave the company a “market outperform” rating in a research note on Wednesday, October 9th.

About Perella Weinberg Partners

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.