Moelis & Company (NYSE:MC) had its price objective increased by JMP Securities from $44.00 to $47.00 in a report released on Thursday. They currently have a market outperform rating on the asset manager’s stock.
Other equities research analysts also recently issued research reports about the company. BidaskClub downgraded Moelis & from a strong-buy rating to a buy rating in a report on Tuesday, August 1st. Bank of America Corporation increased their price objective on Moelis & from $43.00 to $45.00 and gave the company a buy rating in a report on Tuesday, July 25th. Zacks Investment Research downgraded Moelis & from a buy rating to a hold rating in a report on Wednesday, October 4th. UBS AG reissued a neutral rating and issued a $42.00 price objective (up previously from $40.00) on shares of Moelis & in a report on Tuesday, July 25th. Finally, Morgan Stanley increased their price objective on Moelis & from $45.00 to $49.00 and gave the company an overweight rating in a report on Thursday. Four investment analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. Moelis & has an average rating of Buy and an average target price of $42.00.
Shares of Moelis & (NYSE:MC) traded up 2.76% during mid-day trading on Thursday, hitting $42.75. 447,478 shares of the stock were exchanged. The company has a market capitalization of $1.18 billion, a PE ratio of 19.43 and a beta of 1.90. Moelis & has a 12-month low of $24.30 and a 12-month high of $45.50. The firm has a 50-day moving average price of $42.07 and a 200 day moving average price of $39.31.
Moelis & (NYSE:MC) last released its quarterly earnings data on Wednesday, October 25th. The asset manager reported $0.57 EPS for the quarter, beating the consensus estimate of $0.42 by $0.15. The company had revenue of $170.00 million during the quarter, compared to the consensus estimate of $168.51 million. Moelis & had a return on equity of 56.83% and a net margin of 9.62%. The firm’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.44 EPS. On average, equities research analysts expect that Moelis & will post $2.37 earnings per share for the current year.
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The firm also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Shareholders of record on Monday, November 6th will be issued a dividend of $0.37 per share. This represents a $1.48 annualized dividend and a yield of 3.46%. The ex-dividend date is Friday, November 3rd. Moelis &’s dividend payout ratio is 70.81%.
A number of institutional investors have recently made changes to their positions in MC. AGF Investments Inc. acquired a new stake in Moelis & during the 2nd quarter valued at $21,907,000. Vanguard Group Inc. lifted its holdings in Moelis & by 31.1% during the 1st quarter. Vanguard Group Inc. now owns 1,920,061 shares of the asset manager’s stock valued at $73,923,000 after purchasing an additional 455,098 shares during the last quarter. Renaissance Technologies LLC lifted its holdings in Moelis & by 98.2% during the 1st quarter. Renaissance Technologies LLC now owns 443,860 shares of the asset manager’s stock valued at $17,089,000 after purchasing an additional 219,860 shares during the last quarter. Principal Financial Group Inc. lifted its holdings in Moelis & by 76.7% during the 2nd quarter. Principal Financial Group Inc. now owns 492,290 shares of the asset manager’s stock valued at $19,125,000 after purchasing an additional 213,740 shares during the last quarter. Finally, Winslow Asset Management Inc. acquired a new stake in Moelis & during the 2nd quarter valued at $7,795,000. 90.80% of the stock is owned by institutional investors and hedge funds.
About Moelis &
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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