Moelis & Company (NYSE:MC) to Issue $0.65 Quarterly Dividend

Moelis & Company (NYSE:MC) announced a quarterly dividend on Wednesday, July 29th. Investors of record on Monday, August 10th will be paid a dividend of 0.65 per share by the asset manager on Thursday, September 17th. This represents a c) dividend on an annualized basis and a dividend yield of 4.0%. The ex-dividend date of this dividend is Monday, August 10th.

Moelis & Company has decreased its dividend payment by an average of 0.1%annually over the last three years and has raised its dividend every year for the last 1 years. Moelis & Company has a dividend payout ratio of 92.5% indicating that its dividend is currently covered by earnings, but may not be in the future if the company’s earnings fall. Research analysts expect Moelis & Company to earn $4.25 per share next year, which means the company should continue to be able to cover its $2.60 annual dividend with an expected future payout ratio of 61.2%.

Moelis & Company Stock Down 4.7%

MC stock opened at $65.34 on Thursday. The company has a 50-day simple moving average of $67.17 and a 200 day simple moving average of $65.34. The company has a market capitalization of $5.13 billion, a P/E ratio of 23.51, a PEG ratio of 0.87 and a beta of 1.85. Moelis & Company has a fifty-two week low of $51.06 and a fifty-two week high of $78.22.

Moelis & Company (NYSE:MC) last posted its quarterly earnings data on Wednesday, July 29th. The asset manager reported $0.63 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.01. The business had revenue of $409.39 million for the quarter, compared to analyst estimates of $387.27 million. Moelis & Company had a net margin of 14.46% and a return on equity of 38.94%. The business’s revenue for the quarter was up 12.0% on a year-over-year basis. During the same quarter last year, the business earned $0.53 earnings per share. Equities analysts anticipate that Moelis & Company will post 3.17 EPS for the current year.

Wall Street Analysts Forecast Growth

MC has been the subject of several research analyst reports. Weiss Ratings lowered Moelis & Company from a “hold (c+)” rating to a “hold (c)” rating in a report on Tuesday, May 26th. Keefe, Bruyette & Woods lowered their target price on Moelis & Company from $69.00 to $66.00 and set a “market perform” rating on the stock in a report on Friday, July 10th. Morgan Stanley cut their price target on shares of Moelis & Company from $90.00 to $83.00 and set an “overweight” rating for the company in a report on Thursday, April 9th. Zacks Research upgraded shares of Moelis & Company from a “strong sell” rating to a “hold” rating in a research report on Tuesday, July 14th. Finally, UBS Group restated a “sell” rating and set a $60.00 price objective (up from $58.00) on shares of Moelis & Company in a research report on Wednesday, July 8th. Two research analysts have rated the stock with a Buy rating, seven have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Moelis & Company presently has an average rating of “Hold” and a consensus price target of $73.38.

Moelis & Company Company Profile

Moelis & Co operates as a holding company. It engages in the provision of financial advisory, capital raising and asset management services to a client base including corporations, governments, sovereign wealth funds and financial sponsors. The firm focuses on clients including large public multinational corporations, middle market private companies, financial sponsors, entrepreneurs and governments. The company was founded by Kenneth David Moelis, Navid Mahmoodzadegan, Jeffrey Raich and Elizabeth Ann Crain in July 2007 and is headquartered in New York, NY.