Morgan Stanley Increases Moelis & Company (MC) Price Target to $49.00

Moelis & Company (NYSE:MC) had its price objective lifted by Morgan Stanley from $45.00 to $49.00 in a research note issued to investors on Thursday. They currently have an overweight rating on the asset manager’s stock.

A number of other research analysts have also weighed in on MC. BidaskClub raised shares of Moelis & from a buy rating to a strong-buy rating in a report on Wednesday, July 12th. Zacks Investment Research raised shares of Moelis & from a hold rating to a strong-buy rating and set a $48.00 target price for the company in a report on Friday, July 28th. JMP Securities raised their target price on shares of Moelis & from $42.00 to $44.00 and gave the company a market outperform rating in a report on Tuesday, July 25th. UBS AG reissued a neutral rating and issued a $42.00 target price (up from $40.00) on shares of Moelis & in a report on Tuesday, July 25th. Finally, Bank of America Corporation raised their target price on shares of Moelis & from $43.00 to $45.00 and gave the company a buy rating in a report on Tuesday, July 25th. Four research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. The stock currently has an average rating of Buy and a consensus price target of $42.00.

Shares of Moelis & (MC) remained flat at $42.75 during midday trading on Thursday. 260,932 shares of the company were exchanged. Moelis & has a 52 week low of $24.30 and a 52 week high of $45.50. The stock has a market cap of $1.18 billion, a price-to-earnings ratio of 19.77 and a beta of 1.90. 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 announced its quarterly earnings data on Wednesday, October 25th. The asset manager reported $0.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.42 by $0.15. Moelis & had a net margin of 9.62% and a return on equity of 56.83%. The business had revenue of $170.00 million during the quarter, compared to analyst estimates of $168.51 million. During the same period last year, the firm posted $0.44 EPS. The company’s revenue was up 12.8% on a year-over-year basis. On average, equities research analysts anticipate that Moelis & will post $2.37 earnings per share for the current year.

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The business also recently declared a quarterly dividend, which will be paid on Monday, November 20th. Investors of record on Monday, November 6th will be given a $0.37 dividend. The ex-dividend date is Friday, November 3rd. This represents a $1.48 dividend on an annualized basis and a yield of 3.46%. Moelis &’s dividend payout ratio is presently 70.81%.

Institutional investors and hedge funds have recently modified their holdings of the stock. Goldman Sachs Group Inc. lifted its position in Moelis & by 150.1% in the first quarter. Goldman Sachs Group Inc. now owns 136,424 shares of the asset manager’s stock worth $5,252,000 after buying an additional 81,877 shares during the last quarter. Principal Financial Group Inc. lifted its position in Moelis & by 76.7% in the second quarter. Principal Financial Group Inc. now owns 492,290 shares of the asset manager’s stock worth $19,125,000 after buying an additional 213,740 shares during the last quarter. Old Mutual Global Investors UK Ltd. bought a new stake in Moelis & in the second quarter worth $875,000. Morgan Stanley lifted its position in Moelis & by 17.4% in the first quarter. Morgan Stanley now owns 319,532 shares of the asset manager’s stock worth $12,302,000 after buying an additional 47,402 shares during the last quarter. Finally, Teachers Advisors LLC lifted its position in Moelis & by 2.5% in the second quarter. Teachers Advisors LLC now owns 117,042 shares of the asset manager’s stock worth $4,547,000 after buying an additional 2,863 shares during the last quarter. Institutional investors own 90.80% of the company’s stock.

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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