Moelis & Company (NYSE:MC) Announces Earnings Results, Beats Estimates By $0.02 EPS

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

Moelis & Company Stock Performance

Shares of MC traded down $1.07 during mid-day trading on Friday, reaching $65.89. The company had a trading volume of 1,228,048 shares, compared to its average volume of 628,944. The company’s 50 day simple moving average is $67.51 and its 200 day simple moving average is $60.62. Moelis & Company has a 1-year low of $39.08 and a 1-year high of $72.80. The company has a market capitalization of $4.93 billion, a price-to-earnings ratio of 442.20 and a beta of 1.33.

Moelis & Company Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 4th will be paid a $0.60 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.64%. Moelis & Company’s payout ratio is currently 1,600.00%.

Insider Activity

In other news, Director Kenneth Shropshire sold 495 shares of the firm’s 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 sale, the director now directly owns 9,372 shares in the company, valued at approximately $649,385.88. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Kenneth Shropshire sold 495 shares of the firm’s 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 completion of the transaction, the director now owns 9,372 shares in the company, valued at $649,385.88. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Kenneth Moelis sold 5,308 shares of the firm’s stock in a transaction that occurred on Tuesday, July 30th. The shares were sold at an average price of $68.87, for a total transaction of $365,561.96. Following the completion of the transaction, the chief executive officer now owns 86 shares of the company’s stock, valued at approximately $5,922.82. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 6.40% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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