Moelis & Company (NYSE:MC) Posts Earnings Results, Beats Expectations By $0.07 EPS

Moelis & Company (NYSE:MC) posted its quarterly earnings results on Wednesday. The asset manager reported $0.18 EPS for the quarter, beating analysts’ consensus estimates of $0.11 by $0.07, Briefing.com reports. Moelis & Company had a net margin of 1.38% and a return on equity of 4.40%. The firm had revenue of $264.59 million for the quarter, compared to analysts’ expectations of $227.90 million. During the same quarter in the prior year, the company posted ($0.04) earnings per share. The business’s revenue for the quarter was up 47.1% on a year-over-year basis.

Moelis & Company Stock Up 1.9 %

MC traded up $1.26 during trading on Friday, hitting $68.08. The company’s stock had a trading volume of 723,517 shares, compared to its average volume of 663,106. Moelis & Company has a one year low of $38.58 and a one year high of $68.50. The firm has a market cap of $5.09 billion, a PE ratio of -358.32 and a beta of 1.35. The business’s 50 day simple moving average is $57.64 and its 200-day simple moving average is $55.38.

Moelis & Company Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, September 26th. Shareholders of record on Monday, August 5th will be given a $0.60 dividend. The ex-dividend date is Monday, August 5th. This represents a $2.40 annualized dividend and a yield of 3.53%. Moelis & Company’s payout ratio is presently -1,263.16%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on MC shares. UBS Group increased their price target on shares of Moelis & Company from $47.00 to $50.00 and gave the company a “sell” rating in a report on Tuesday, July 9th. Keefe, Bruyette & Woods restated a “market perform” rating and set a $60.00 price objective (up previously from $54.00) on shares of Moelis & Company in a research report on Thursday. JMP Securities restated a “market perform” rating on shares of Moelis & Company in a research report on Tuesday, April 9th. Morgan Stanley increased their price objective on shares of Moelis & Company from $51.00 to $61.00 and gave the company an “underweight” rating in a research report on Tuesday. Finally, JPMorgan Chase & Co. increased their price objective on shares of Moelis & Company from $50.00 to $51.00 and gave the company a “neutral” rating in a research report on Thursday. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $56.00.

Insiders Place Their Bets

In other Moelis & Company news, insider Navid Mahmoodzadegan sold 44,980 shares of the stock in a transaction that occurred on Monday, May 13th. The shares were sold at an average price of $54.92, for a total value of $2,470,301.60. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Kenneth Moelis sold 40,000 shares of the firm’s stock in a transaction on Thursday, May 9th. The shares were sold at an average price of $53.98, for a total transaction of $2,159,200.00. Following the sale, the chief executive officer now directly owns 42,441 shares in the company, valued at approximately $2,290,965.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Navid Mahmoodzadegan sold 44,980 shares of the firm’s stock in a transaction on Monday, May 13th. The shares were sold at an average price of $54.92, for a total transaction of $2,470,301.60. The disclosure for this sale can be found here. Insiders own 6.40% of the company’s stock.

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.