Perella Weinberg Partners (NASDAQ:PWP) to Issue $0.07 Quarterly Dividend

Perella Weinberg Partners (NASDAQ:PWP) announced a quarterly dividend on Friday, July 31st. Stockholders of record on Friday, August 28th will be given a dividend of 0.07 per share on Thursday, September 10th. This represents a c) annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, August 28th.

Perella Weinberg Partners has a dividend payout ratio of 17.8% meaning its dividend is sufficiently covered by earnings.

Perella Weinberg Partners Trading Up 18.4%

Shares of Perella Weinberg Partners stock traded up $2.74 on Friday, reaching $17.65. 3,476,618 shares of the company were exchanged, compared to its average volume of 1,138,666. Perella Weinberg Partners has a fifty-two week low of $14.11 and a fifty-two week high of $25.92. The firm has a market capitalization of $1.64 billion, a price-to-earnings ratio of 73.54 and a beta of 1.65. The stock has a fifty day moving average price of $16.07 and a 200-day moving average price of $18.47.

Perella Weinberg Partners (NASDAQ:PWP) last released its quarterly earnings results on Friday, July 31st. The company reported $0.20 earnings per share for the quarter, beating analysts’ consensus estimates of $0.06 by $0.14. The business had revenue of $156.53 million during the quarter, compared to analyst estimates of $144.76 million. Perella Weinberg Partners had a negative return on equity of 19.90% and a net margin of 2.82%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Citizens Jmp cut their price target on shares of Perella Weinberg Partners from $32.00 to $30.00 and set a “market outperform” rating on the stock in a report on Friday, April 10th. Weiss Ratings cut shares of Perella Weinberg Partners from a “hold (c)” rating to a “hold (c-)” rating in a research report on Thursday, July 16th. Keefe, Bruyette & Woods cut their target price on shares of Perella Weinberg Partners from $23.50 to $19.00 and set an “outperform” rating on the stock in a research note on Friday, July 10th. Finally, The Goldman Sachs Group set a $16.00 target price on Perella Weinberg Partners in a report on Friday, June 12th. Two equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $21.50.

Perella Weinberg Partners Company Profile

Perella Weinberg Partners L.P. is a global, partner-led advisory firm specializing in strategic and financial counsel. Founded in 2006 by Joseph R. Perella and Peter Weinberg—both veterans of leading Wall Street institutions—the firm delivers independent advice on mergers and acquisitions, financing, restructuring and capital markets. As an independent entity, it emphasizes senior banker involvement throughout every transaction, ensuring clients benefit from depth of experience and continuity of service.

The firm’s core offerings encompass M&A advisory, debt and equity financing, corporate restructuring and capital markets solutions.