Moelis & Company (NYSE:MC) Posts Quarterly Earnings Results, Beats Estimates By $0.11 EPS

Moelis & Company (NYSE:MC) announced its quarterly earnings data on Wednesday. The asset manager reported $0.22 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.11, Briefing.com reports. Moelis & Company had a negative net margin of 2.89% and a negative return on equity of 3.82%. The firm had revenue of $217.49 million for the quarter, compared to the consensus estimate of $219.30 million. During the same period in the previous year, the firm posted $0.05 earnings per share. The firm’s revenue was up 17.4% on a year-over-year basis.

Moelis & Company Stock Performance

NYSE MC traded down $4.69 during trading hours on Thursday, reaching $49.30. 817,045 shares of the company’s stock were exchanged, compared to its average volume of 631,242. The company’s 50-day moving average is $54.31 and its two-hundred day moving average is $51.51. Moelis & Company has a one year low of $33.87 and a one year high of $58.67. The company has a market capitalization of $3.51 billion, a price-to-earnings ratio of -138.08 and a beta of 1.35.

Moelis & Company Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, February 20th were paid a dividend of $0.60 per share. The ex-dividend date was Friday, February 16th. This represents a $2.40 dividend on an annualized basis and a yield of 4.87%. Moelis & Company’s payout ratio is -666.67%.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the stock. JMP Securities reaffirmed a “market perform” rating on shares of Moelis & Company in a research report on Tuesday, April 9th. StockNews.com raised shares of Moelis & Company from a “sell” rating to a “hold” rating in a report on Thursday, February 8th. The Goldman Sachs Group upgraded shares of Moelis & Company from a “sell” rating to a “neutral” rating and upped their price target for the stock from $53.00 to $58.00 in a research report on Wednesday, March 13th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $54.00 target price (down from $58.00) on shares of Moelis & Company in a research report on Thursday. Finally, UBS Group upped their target price on shares of Moelis & Company from $45.00 to $47.00 and gave the company a “sell” rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the stock. Based on data from MarketBeat.com, Moelis & Company has an average rating of “Hold” and a consensus target price of $50.80.

Insider Buying and Selling

In other news, CFO Joseph Simon sold 8,573 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $54.13, for a total transaction of $464,056.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO Joseph Simon sold 8,573 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $54.13, for a total transaction of $464,056.49. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Kenneth Moelis sold 75,000 shares of the firm’s stock in a transaction that occurred on Thursday, February 29th. The stock was sold at an average price of $54.11, for a total transaction of $4,058,250.00. Following the transaction, the chief executive officer now directly owns 86,441 shares of the company’s stock, valued at $4,677,322.51. The disclosure for this sale can be found here. In the last three months, insiders sold 375,185 shares of company stock valued at $20,130,225. 6.96% of the stock is owned by corporate insiders.

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.