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

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

Moelis & Company Price Performance

NYSE MC traded down $1.07 during trading on Friday, reaching $65.89. 1,228,048 shares of the company’s stock traded hands, compared to its average volume of 628,944. The company’s 50 day simple moving average is $67.51 and its two-hundred day simple moving average is $60.62. Moelis & Company has a 12-month low of $39.08 and a 12-month high of $72.80. The firm has a market cap of $4.93 billion, a price-to-earnings ratio of 442.20 and a beta of 1.33.

Moelis & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Shareholders of record on Monday, November 4th will be given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 3.64%. The ex-dividend date is Monday, November 4th. Moelis & Company’s dividend payout ratio (DPR) is 1,600.00%.

Insider Transactions at Moelis & Company

In other news, CEO Kenneth Moelis sold 5,308 shares of Moelis & Company 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 transaction, the chief executive officer now owns 86 shares of the company’s stock, valued at $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 is accessible through this link. In other news, Director Kenneth Shropshire sold 495 shares of Moelis & Company stock in a transaction that occurred on Wednesday, July 31st. The shares were sold at an average price of $69.29, for a total value of $34,298.55. Following the transaction, the director now owns 9,372 shares of the company’s stock, valued at $649,385.88. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Kenneth Moelis sold 5,308 shares of Moelis & Company stock in a transaction that occurred on Tuesday, July 30th. The stock was sold at an average price of $68.87, for a total transaction of $365,561.96. Following the completion of the sale, the chief executive officer now owns 86 shares of the company’s stock, valued at $5,922.82. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 6.40% of the company’s stock.

Analyst Ratings Changes

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

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.