Moelis & Company (NYSE:MC) Announces Quarterly Dividend of $0.60

Moelis & Company (NYSE:MC) declared a quarterly dividend on Wednesday, October 23rd, Wall Street Journal reports. Stockholders of record on Monday, November 4th will be paid a dividend of 0.60 per share by the asset manager on Monday, December 2nd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.59%. The ex-dividend date of this dividend is Monday, November 4th.

Moelis & Company has increased its dividend payment by an average of 19.6% annually over the last three years. Moelis & Company has a payout ratio of 102.1% indicating that the company cannot currently cover its dividend with earnings alone and is relying on its balance sheet to cover its dividend payments. Equities research analysts expect Moelis & Company to earn $2.48 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 96.8%.

Moelis & Company Stock Performance

Shares of MC opened at $66.93 on Friday. Moelis & Company has a fifty-two week low of $40.68 and a fifty-two week high of $72.80. The business has a 50-day moving average of $67.72 and a 200 day moving average of $61.15. The firm has a market cap of $5.01 billion, a P/E ratio of 126.28 and a beta of 1.33.

Moelis & Company (NYSE:MC) last posted its earnings results on Wednesday, October 23rd. The asset manager reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.02. Moelis & Company had a return on equity of 12.15% and a net margin of 4.22%. The firm had revenue of $273.76 million for the quarter, compared to the consensus estimate of $273.58 million. During the same quarter in the prior year, the business posted ($0.15) earnings per share. The business’s quarterly revenue was up .6% on a year-over-year basis. As a group, research analysts predict that Moelis & Company will post 0.97 earnings per share for the current fiscal year.

Analyst Ratings Changes

MC has been the topic of several analyst reports. Wells Fargo & Company began coverage on Moelis & Company in a research report on Thursday, September 12th. They set an “equal weight” rating and a $70.00 price target on the stock. Keefe, Bruyette & Woods reaffirmed a “market perform” rating and set a $60.00 price objective (up previously from $54.00) on shares of Moelis & Company in a research note on Thursday, July 25th. JPMorgan Chase & Co. increased their target price 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. Morgan Stanley cut their price target on shares of Moelis & Company from $67.00 to $66.00 and set an “underweight” rating for the company in a report on Thursday, October 24th. Finally, UBS Group boosted their price target on shares of Moelis & Company from $54.00 to $60.00 and gave the company a “sell” rating in a research report on Tuesday, October 8th. 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 MarketBeat, the company has an average rating of “Hold” and a consensus price target of $60.83.

About Moelis & Company

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.