Moelis & Company (NYSE:MC) released its quarterly earnings results on Monday, July 24th. The asset manager reported $0.66 earnings per share for the quarter, topping analysts’ consensus estimates of $0.51 by $0.15, Bloomberg Earnings reports. The company had revenue of $172.10 million during the quarter, compared to analysts’ expectations of $156.85 million. Moelis & had a return on equity of 52.98% and a net margin of 8.50%. Moelis &’s quarterly revenue was up 30.7% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.35 EPS.
Moelis & (MC) opened at 38.30 on Friday. The stock has a market capitalization of $1.06 billion, a price-to-earnings ratio of 17.72 and a beta of 1.87. The stock’s 50 day moving average price is $39.78 and its 200 day moving average price is $37.20. Moelis & has a 52-week low of $23.60 and a 52-week high of $44.85.
The company also recently declared a quarterly dividend, which was paid on Thursday, August 17th. Stockholders of record on Thursday, August 3rd were given a dividend of $0.37 per share. The ex-dividend date of this dividend was Tuesday, August 1st. This represents a $1.48 annualized dividend and a dividend yield of 3.86%. Moelis &’s dividend payout ratio is currently 74.00%.
A number of institutional investors have recently made changes to their positions in the stock. Ffcm LLC purchased a new position in shares of Moelis & during the second quarter valued at about $112,000. BNP Paribas Arbitrage SA increased its position in shares of Moelis & by 594.2% in the second quarter. BNP Paribas Arbitrage SA now owns 2,978 shares of the asset manager’s stock valued at $116,000 after buying an additional 2,549 shares in the last quarter. Envestnet Asset Management Inc. increased its position in shares of Moelis & by 11.6% in the first quarter. Envestnet Asset Management Inc. now owns 3,030 shares of the asset manager’s stock valued at $117,000 after buying an additional 315 shares in the last quarter. Meeder Asset Management Inc. purchased a new position in shares of Moelis & during the second quarter valued at about $130,000. Finally, Nisa Investment Advisors LLC purchased a new position in shares of Moelis & during the second quarter valued at about $144,000. 89.57% of the stock is owned by hedge funds and other institutional investors.
A number of equities analysts have commented on MC shares. Keefe, Bruyette & Woods raised Moelis & to a “hold” rating and set a $39.00 target price for the company in a report on Thursday, May 4th. ValuEngine raised Moelis & from a “hold” rating to a “buy” rating in a report on Thursday, June 1st. Zacks Investment Research lowered Moelis & from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, June 28th. Bank of America Corporation upped their price target on Moelis & from $43.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, July 25th. Finally, Morgan Stanley upped their price target on Moelis & from $39.00 to $45.00 and gave the company an “overweight” rating in a research report on Tuesday, July 25th. Four analysts have rated the stock with a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. Moelis & presently has a consensus rating of “Buy” and a consensus target price of $39.22.
Moelis & Company Profile
Moelis & Company is an investment banking advisory company. The Company provides strategic and financial advice to a client base, including corporations, governments and financial sponsors. The Company offers financial advisory services across various industry sectors. It advices its clients on decisions, including mergers and acquisitions (M&A), recapitalizations and restructurings, and other corporate finance matters.
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