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

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

Shares of MC traded up $1.65 during trading hours on Thursday, hitting $58.34. 26,649 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 business’s 50-day simple moving average is $54.37. The company has a market capitalization of $3.73 billion, a price-to-earnings ratio of 17.69 and a beta of 1.21.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 18th. Shareholders of record on Monday, May 10th were given a $0.55 dividend. This represents a $2.20 annualized dividend and a yield of 3.77%. The ex-dividend date of this dividend was Friday, May 7th. Moelis & Company’s dividend payout ratio (DPR) is currently 75.60%.

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

In other news, CEO Kenneth Moelis sold 18,184 shares of the stock in a transaction on Friday, April 23rd. The shares were sold at an average price of $57.11, for a total transaction of $1,038,488.24. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Over the last quarter, insiders have sold 30,051 shares of company stock valued at $1,715,368. 17.99% of the stock is currently owned by corporate 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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