Q3 2024 Earnings Forecast for Moelis & Company Issued By Zacks Research (NYSE:MC)

Moelis & Company (NYSE:MC) – Zacks Research lowered their Q3 2024 earnings estimates for shares of Moelis & Company in a research note issued on Tuesday, July 23rd. Zacks Research analyst R. Department now anticipates that the asset manager will post earnings of $0.19 per share for the quarter, down from their prior forecast of $0.31. The consensus estimate for Moelis & Company’s current full-year earnings is $1.04 per share. Zacks Research also issued estimates for Moelis & Company’s Q4 2024 earnings at $0.47 EPS, FY2024 earnings at $0.99 EPS, Q1 2025 earnings at $0.50 EPS, Q2 2025 earnings at $0.58 EPS, Q3 2025 earnings at $0.66 EPS, Q4 2025 earnings at $0.69 EPS, FY2025 earnings at $2.43 EPS, Q1 2026 earnings at $0.83 EPS and FY2026 earnings at $3.87 EPS.

Moelis & Company (NYSE:MC) last posted its quarterly earnings data on Wednesday, July 24th. The asset manager reported $0.18 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.07. Moelis & Company had a net margin of 1.38% and a return on equity of 4.40%. The company had revenue of $264.59 million during the quarter, compared to the consensus estimate of $227.90 million. During the same period in the previous year, the firm posted ($0.04) EPS. The firm’s revenue was up 47.1% compared to the same quarter last year.

Several other research firms also recently weighed in on MC. Morgan Stanley boosted their price target on shares of Moelis & Company from $51.00 to $61.00 and gave the stock an “underweight” rating in a research note on Tuesday. JPMorgan Chase & Co. boosted their price target on shares of Moelis & Company from $50.00 to $51.00 and gave the stock a “neutral” rating in a research note on Thursday. UBS Group upped their price objective on shares of Moelis & Company from $47.00 to $50.00 and gave the company a “sell” rating in a research note on Tuesday, July 9th. JMP Securities reaffirmed a “market perform” rating on shares of Moelis & Company in a research note on Tuesday, April 9th. Finally, Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $60.00 price objective (up from $54.00) on shares of Moelis & Company in a research note on Thursday. Two research analysts have rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $56.00.

Moelis & Company Stock Performance

NYSE MC opened at $68.14 on Thursday. The company has a market capitalization of $5.10 billion, a P/E ratio of -358.63 and a beta of 1.35. The company has a fifty day moving average of $57.41 and a 200-day moving average of $55.30. Moelis & Company has a 52-week low of $38.58 and a 52-week high of $68.50.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in MC. Mendota Financial Group LLC bought a new position in Moelis & Company in the fourth quarter worth approximately $34,000. GAMMA Investing LLC purchased a new stake in shares of Moelis & Company in the fourth quarter worth $34,000. Hexagon Capital Partners LLC increased its stake in shares of Moelis & Company by 147.9% in the first quarter. Hexagon Capital Partners LLC now owns 657 shares of the asset manager’s stock worth $37,000 after purchasing an additional 392 shares in the last quarter. Benjamin F. Edwards & Company Inc. increased its stake in shares of Moelis & Company by 510.2% in the first quarter. Benjamin F. Edwards & Company Inc. now owns 836 shares of the asset manager’s stock worth $47,000 after purchasing an additional 699 shares in the last quarter. Finally, Assetmark Inc. increased its stake in shares of Moelis & Company by 22.5% in the fourth quarter. Assetmark Inc. now owns 1,505 shares of the asset manager’s stock worth $84,000 after purchasing an additional 276 shares in the last quarter. 91.53% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

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

Moelis & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Monday, August 5th will be issued a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a yield of 3.52%. The ex-dividend date of this dividend is Monday, August 5th. Moelis & Company’s dividend payout ratio (DPR) is presently -1,263.16%.

Moelis & Company Company Profile

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.