Perella Weinberg Partners (NASDAQ:PWP) Posts Quarterly Earnings Results, Beats Expectations By $0.14 EPS

Perella Weinberg Partners (NASDAQ:PWP) posted its quarterly earnings data on Friday. The company reported $0.34 EPS for the quarter, beating analysts’ consensus estimates of $0.20 by $0.14, Briefing.com reports. Perella Weinberg Partners had a positive return on equity of 56.85% and a negative net margin of 15.75%. The business had revenue of $278.20 million for the quarter, compared to analyst estimates of $196.42 million. During the same quarter last year, the company earned $0.12 earnings per share. The business’s revenue for the quarter was up 100.1% compared to the same quarter last year.

Perella Weinberg Partners Trading Up 2.3 %

Shares of NASDAQ PWP traded up $0.55 on Friday, reaching $24.43. 615,839 shares of the company traded hands, compared to its average volume of 281,886. The stock has a market capitalization of $2.10 billion, a PE ratio of -8.48 and a beta of 1.49. Perella Weinberg Partners has a fifty-two week low of $10.12 and a fifty-two week high of $25.10. The company has a 50 day moving average of $20.16 and a 200 day moving average of $17.78.

Perella Weinberg Partners Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, December 18th. Shareholders of record on Wednesday, December 4th will be issued a $0.07 dividend. This represents a $0.28 annualized dividend and a yield of 1.15%. The ex-dividend date of this dividend is Wednesday, December 4th. Perella Weinberg Partners’s dividend payout ratio (DPR) is -9.72%.

Wall Street Analyst Weigh In

Several research firms have issued reports on PWP. JMP Securities raised their price target on shares of Perella Weinberg Partners from $22.00 to $26.00 and gave the stock a “market outperform” rating in a research note on Wednesday, October 9th. Keefe, Bruyette & Woods raised their target price on shares of Perella Weinberg Partners from $18.00 to $19.00 and gave the stock an “outperform” rating in a research report on Friday, July 12th.

About Perella Weinberg Partners

Perella Weinberg Partners, an independent investment banking company, provides strategic and financial advice services in the United States and internationally. The company offers advisory services related to strategic and financial decisions, mergers and acquisition execution, shareholder and defense advisory, and financing and capital solutions advice with resources focused on restructuring, liability management, and capital markets advisory, as well as underwriting and research services primarily for the energy and related industries.