Moelis & Company (NYSE:MC) Posts Earnings Results, Beats Expectations By $0.36 EPS

Moelis & Company (NYSE:MC) released its quarterly earnings results on Tuesday. The asset manager reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.36, MarketWatch Earnings reports. The business had revenue of $360.91 million for the quarter, compared to the consensus estimate of $274.36 million. Moelis & Company had a net margin of 20.91% and a return on equity of 56.19%. The business’s revenue was up 125.7% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.11) EPS.

NYSE MC traded up $1.86 on Thursday, hitting $58.55. 20,601 shares of the stock were exchanged, compared to its average volume of 454,098. Moelis & Company has a fifty-two week low of $28.77 and a fifty-two week high of $59.63. The firm has a market cap of $3.75 billion, a P/E ratio of 17.69 and a beta of 1.21. The firm has a 50-day simple moving average of $54.37.

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 18th. Shareholders of record on Monday, May 10th were issued a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a yield of 3.76%. The ex-dividend date of this dividend was Friday, May 7th. Moelis & Company’s dividend payout ratio (DPR) is presently 75.60%.

A number of research firms have recently issued reports on MC. JMP Securities reissued a “market perform” rating on shares of Moelis & Company in a research note on Thursday, April 15th. Morgan Stanley upped their target price on shares of Moelis & Company from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research note on Thursday. Zacks Investment Research downgraded shares of Moelis & Company from a “buy” rating to a “hold” rating and set a $58.00 target price on the stock. in a research note on Wednesday, June 9th. Finally, Wolfe Research raised shares of Moelis & Company from an “underperform” rating to a “peer perform” rating and set a $63.00 target price on the stock in a research note on Thursday, June 17th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the company’s stock. Moelis & Company presently has a consensus rating of “Hold” and a consensus price target of $51.56.

In other Moelis & Company news, CEO Kenneth Moelis sold 10,466 shares of the business’s stock in a transaction that occurred on Wednesday, April 28th. The shares were sold at an average price of $57.04, for a total transaction of $596,980.64. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders have sold a total of 30,051 shares of company stock valued at $1,715,368 in the last quarter. 17.99% of the stock is currently owned by company insiders.

About Moelis & Company

Moelis & Company operates as an investment banking advisory firm in the United States, Europe, and internationally. It offers advisory services in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets transactions, and other corporate finance matters. The company offers its services to public multinational corporations, middle market private companies, financial sponsors, entrepreneurs, and governments.

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Earnings History for Moelis & Company (NYSE:MC)

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