Zacks Investment Research Downgrades Moelis & Co. (MC) to Hold
According to Zacks, “Moelis & Company is a global independent investment bank. The Company provides innovative strategic advice and solutions to a diverse client base, including corporations, governments and financial sponsors. It advises clients in the areas of mergers and acquisitions, recapitalizations and restructurings, and other corporate finance matters. Moelis & Company is based in New York. “
Other equities analysts have also recently issued reports about the stock. Morgan Stanley reissued a buy rating on shares of Moelis & Co. in a research report on Tuesday, June 7th. Credit Suisse Group AG reissued a hold rating on shares of Moelis & Co. in a research report on Tuesday, June 28th. One analyst has rated the stock with a sell rating, four have given a hold rating and three have assigned a buy rating to the stock. The stock presently has an average rating of Hold and a consensus target price of $31.00.
Shares of Moelis & Co. (NYSE:MC) opened at 25.80 on Wednesday. Moelis & Co. has a one year low of $21.91 and a one year high of $31.84. The company has a market capitalization of $531.45 million, a PE ratio of 15.37 and a beta of 1.73. The company has a 50-day moving average of $26.36 and a 200-day moving average of $26.25.
Moelis & Co. (NYSE:MC) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported $0.35 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.29 by $0.06. Moelis & Co. had a net margin of 6.01% and a return on equity of 35.37%. The firm had revenue of $131.70 million for the quarter, compared to analysts’ expectations of $131.44 million. During the same period last year, the firm earned $0.37 earnings per share. The business’s revenue for the quarter was up 4.7% on a year-over-year basis. On average, analysts anticipate that Moelis & Co. will post $1.62 earnings per share for the current year.
Hedge funds have recently bought and sold shares of the company. Legal & General Group Plc raised its position in Moelis & Co. by 86.3% in the first quarter. Legal & General Group Plc now owns 3,519 shares of the company’s stock worth $100,000 after buying an additional 1,630 shares during the period. BlackRock Advisors LLC raised its position in Moelis & Co. by 10.8% in the second quarter. BlackRock Advisors LLC now owns 9,460 shares of the company’s stock worth $213,000 after buying an additional 920 shares during the period. Emerald Acquisition Ltd. purchased a new position in Moelis & Co. during the second quarter worth approximately $222,000. American International Group Inc. raised its position in Moelis & Co. by 3.8% in the second quarter. American International Group Inc. now owns 10,699 shares of the company’s stock worth $241,000 after buying an additional 396 shares during the period. Finally, Clinton Group Inc. purchased a new position in Moelis & Co. during the second quarter worth approximately $246,000. Institutional investors and hedge funds own 84.45% of the company’s stock.
About Moelis & Co.
Moelis & Company is an investment banking advisory firm. The Company provides strategic and financial advice to a client base, including corporations, governments and financial sponsors. The Company offers financial advisory services across various industry sectors. The Company advices its clients on decisions, including mergers and acquisitions (M&A), recapitalizations and restructurings, and other corporate finance matters.
For more information about research offerings from Zacks Investment Research, visit Zacks.com
Receive News & Ratings for Moelis & Co. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Moelis & Co. and related companies with MarketBeat.com's FREE daily email newsletter.