Perella Weinberg Partners Plans Quarterly Dividend of $0.07 (NASDAQ:PWP)

Perella Weinberg Partners (NASDAQ:PWP) announced a quarterly dividend on Friday, August 2nd, Wall Street Journal reports. Investors of record on Thursday, September 5th will be given a dividend of 0.07 per share on Monday, September 16th. This represents a $0.28 dividend on an annualized basis and a yield of 1.51%. The ex-dividend date of this dividend is Thursday, September 5th.

Perella Weinberg Partners has a dividend payout ratio of 21.1% meaning its dividend is sufficiently covered by earnings.

Perella Weinberg Partners Stock Down 5.1 %

Shares of PWP stock opened at $18.56 on Wednesday. Perella Weinberg Partners has a fifty-two week low of $9.30 and a fifty-two week high of $20.58. The firm’s 50 day moving average price is $17.98 and its two-hundred day moving average price is $15.76. The stock has a market cap of $1.75 billion, a price-to-earnings ratio of -9.98 and a beta of 1.50.

Perella Weinberg Partners (NASDAQ:PWP) last announced its quarterly earnings results on Friday, August 2nd. The company reported $0.43 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.17 by $0.26. The firm had revenue of $272.00 million during the quarter, compared to the consensus estimate of $179.35 million. Perella Weinberg Partners had a positive return on equity of 56.85% and a negative net margin of 15.75%. The firm’s quarterly revenue was up 64.3% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.16 EPS.

Analyst Upgrades and Downgrades

PWP has been the topic of several recent research reports. JMP Securities reissued a “market outperform” rating and set a $22.00 price target on shares of Perella Weinberg Partners in a research report on Monday, August 5th. Keefe, Bruyette & Woods boosted 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.