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

Moelis & Company (NYSE:MC) posted its earnings results on Wednesday. The asset manager reported $0.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.20 by $0.02, Briefing.com reports. The company had revenue of $273.76 million during the quarter, compared to analysts’ expectations of $273.58 million. Moelis & Company had a net margin of 1.38% and a return on equity of 4.38%. Moelis & Company’s quarterly revenue was up .6% compared to the same quarter last year. During the same quarter last year, the company posted ($0.15) EPS.

Moelis & Company Stock Down 1.6 %

Shares of NYSE:MC traded down $1.07 during midday trading on Friday, hitting $65.89. The stock had a trading volume of 1,228,048 shares, compared to its average volume of 628,945. The company’s 50-day moving average price is $67.53 and its 200-day moving average price is $60.69. The company has a market capitalization of $4.93 billion, a P/E ratio of 439.27 and a beta of 1.33. Moelis & Company has a fifty-two week low of $39.08 and a fifty-two week high of $72.80.

Moelis & Company Dividend Announcement

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

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Morgan Stanley cut their target price on shares of Moelis & Company from $67.00 to $66.00 and set an “underweight” rating for the company in a research note on Thursday. UBS Group raised their price target on shares of Moelis & Company from $54.00 to $60.00 and gave the stock a “sell” rating in a research report on Tuesday, October 8th. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $60.00 price target (up from $54.00) on shares of Moelis & Company in a research report on Thursday, July 25th. Wells Fargo & Company began coverage on shares of Moelis & Company in a research report on Thursday, September 12th. They set an “equal weight” rating and a $70.00 price target on the stock. Finally, JPMorgan Chase & Co. raised their price target on shares of Moelis & Company from $50.00 to $51.00 and gave the stock a “neutral” rating in a research report on Thursday, July 25th. Two investment analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. According to data from MarketBeat.com, Moelis & Company presently has a consensus rating of “Hold” and an average target price of $60.83.

Insider Activity

In other news, CEO Kenneth Moelis sold 5,308 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief executive officer now directly owns 86 shares in the company, valued at approximately $5,922.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Kenneth Moelis sold 5,308 shares of the company’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $68.87, for a total transaction of $365,561.96. Following the completion of the transaction, 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 position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kenneth Shropshire sold 495 shares of the company’s stock in a transaction that occurred on Wednesday, July 31st. The stock was sold at an average price of $69.29, for a total transaction of $34,298.55. Following the transaction, the director now owns 9,372 shares of the company’s stock, valued at approximately $649,385.88. This represents a 0.00 % decrease in their ownership of the stock. 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.