Moelis & Company (NYSE:MC) Forecasted to Post Q2 2024 Earnings of $0.13 Per Share

Moelis & Company (NYSE:MC) – Equities researchers at Zacks Research dropped their Q2 2024 EPS estimates for Moelis & Company in a note issued to investors on Friday, April 19th. Zacks Research analyst R. Department now forecasts that the asset manager will post earnings per share of $0.13 for the quarter, down from their previous estimate of $0.16. The consensus estimate for Moelis & Company’s current full-year earnings is $1.47 per share. Zacks Research also issued estimates for Moelis & Company’s Q3 2024 earnings at $0.33 EPS, FY2024 earnings at $1.24 EPS, Q2 2025 earnings at $0.66 EPS, Q1 2026 earnings at $0.70 EPS and FY2026 earnings at $4.01 EPS.

Moelis & Company (NYSE:MC) last announced its quarterly earnings data on Wednesday, February 7th. The asset manager reported ($0.06) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.11) by $0.05. Moelis & Company had a negative net margin of 2.89% and a negative return on equity of 3.82%. The business had revenue of $214.90 million for the quarter, compared to the consensus estimate of $197.98 million. During the same quarter last year, the company posted $0.33 earnings per share. Moelis & Company’s quarterly revenue was up 3.7% on a year-over-year basis.

Other analysts have also issued reports about the company. StockNews.com upgraded Moelis & Company from a “sell” rating to a “hold” rating in a research report on Thursday, February 8th. JPMorgan Chase & Co. upped their price objective on Moelis & Company from $46.00 to $57.00 and gave the company a “neutral” rating in a report on Thursday, February 8th. Keefe, Bruyette & Woods reissued a “market perform” rating and set a $56.00 target price on shares of Moelis & Company in a report on Monday, January 29th. UBS Group dropped their price objective on Moelis & Company from $46.00 to $45.00 and set a “sell” rating for the company in a research report on Tuesday, March 26th. Finally, The Goldman Sachs Group upgraded Moelis & Company from a “sell” rating to a “neutral” rating and increased their target price for the company from $53.00 to $58.00 in a research report on Wednesday, March 13th. Two analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat, Moelis & Company currently has a consensus rating of “Hold” and an average price target of $50.80.

Moelis & Company Price Performance

MC opened at $54.60 on Monday. The company has a market capitalization of $3.89 billion, a P/E ratio of -151.67 and a beta of 1.35. The firm’s fifty day moving average price is $54.32 and its two-hundred day moving average price is $51.49. Moelis & Company has a fifty-two week low of $33.87 and a fifty-two week high of $58.67.

Moelis & Company Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, February 20th were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $2.40 dividend on an annualized basis and a yield of 4.40%. Moelis & Company’s dividend payout ratio (DPR) is presently -666.67%.

Insider Buying and Selling at Moelis & Company

In other Moelis & Company news, insider Christopher Callesano sold 1,040 shares of the firm’s stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $53.59, for a total value of $55,733.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, insider Christopher Callesano sold 1,040 shares of Moelis & Company stock in a transaction that occurred on Thursday, February 8th. The stock was sold at an average price of $53.59, for a total transaction of $55,733.60. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Navid Mahmoodzadegan sold 20,001 shares of Moelis & Company stock in a transaction that occurred on Friday, February 16th. The shares were sold at an average price of $55.82, for a total value of $1,116,455.82. Following the transaction, the insider now directly owns 79,859 shares in the company, valued at approximately $4,457,729.38. The disclosure for this sale can be found here. Over the last quarter, insiders sold 375,185 shares of company stock valued at $20,130,225. Company insiders own 6.96% of the company’s stock.

Institutional Trading of Moelis & Company

Hedge funds have recently bought and sold shares of the business. Wesbanco Bank Inc. purchased a new position in shares of Moelis & Company in the first quarter valued at $557,000. KLR Investment Advisors LLC raised its position in Moelis & Company by 27.9% during the 1st quarter. KLR Investment Advisors LLC now owns 5,966 shares of the asset manager’s stock valued at $318,000 after purchasing an additional 1,301 shares during the last quarter. Wasatch Advisors LP raised its position in Moelis & Company by 4.9% during the 1st quarter. Wasatch Advisors LP now owns 3,417,643 shares of the asset manager’s stock valued at $194,020,000 after purchasing an additional 159,797 shares during the last quarter. Hexagon Capital Partners LLC raised its position in shares of Moelis & Company by 147.9% in the 1st quarter. Hexagon Capital Partners LLC now owns 657 shares of the asset manager’s stock worth $37,000 after acquiring an additional 392 shares in the last quarter. Finally, O ROURKE & COMPANY Inc grew its stake in shares of Moelis & Company by 9.5% in the 1st quarter. O ROURKE & COMPANY Inc now owns 6,181 shares of the asset manager’s stock worth $351,000 after buying an additional 537 shares during the last quarter. 91.53% of the stock is currently owned by institutional investors.

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.