Brokerages Set Moelis & Company (NYSE:MC) PT at $60.67

Moelis & Company (NYSE:MC) has been assigned an average recommendation of “Hold” from the nine analysts that are presently covering the firm, MarketBeat reports. Five research analysts have rated the stock with a hold rating and one has issued a buy rating on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $61.50.

MC has been the subject of a number of recent analyst reports. Zacks Investment Research lowered shares of Moelis & Company from a “buy” rating to a “hold” rating and set a $64.00 price objective for the company. in a report on Tuesday, September 21st. Morgan Stanley boosted their price objective on shares of Moelis & Company from $63.00 to $68.00 and gave the stock an “equal weight” rating in a report on Monday. Finally, Wolfe Research raised shares of Moelis & Company from an “underperform” rating to a “peer perform” rating and set a $63.00 target price for the company in a research report on Thursday, June 17th.

Shares of MC stock traded up $0.69 during trading hours on Monday, hitting $68.76. 2,814 shares of the company’s stock traded hands, compared to its average volume of 409,585. The stock’s fifty day simple moving average is $62.77 and its two-hundred day simple moving average is $57.72. Moelis & Company has a 12-month low of $35.86 and a 12-month high of $69.64. The stock has a market cap of $4.53 billion, a price-to-earnings ratio of 14.54 and a beta of 1.21.

Moelis & Company (NYSE:MC) last released its earnings results on Tuesday, July 20th. The asset manager reported $1.19 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.83 by $0.36. Moelis & Company had a net margin of 24.34% and a return on equity of 78.25%. The firm had revenue of $360.91 million during the quarter, compared to analyst estimates of $274.36 million. During the same period last year, the business earned ($0.11) earnings per share. The business’s revenue was up 125.7% on a year-over-year basis. On average, equities research analysts forecast that Moelis & Company will post 3.84 earnings per share for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 17th. Stockholders of record on Monday, August 2nd were given a dividend of $0.60 per share. This is an increase from Moelis & Company’s previous quarterly dividend of $0.55. The ex-dividend date was Friday, July 30th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 3.49%. Moelis & Company’s payout ratio is presently 82.47%.

Hedge funds have recently modified their holdings of the company. Eagle Bay Advisors LLC bought a new stake in shares of Moelis & Company during the 2nd quarter valued at $34,000. Bessemer Group Inc. bought a new stake in shares of Moelis & Company during the 1st quarter valued at $37,000. Maverick Capital Ltd. bought a new stake in shares of Moelis & Company during the 1st quarter valued at $53,000. HM Payson & Co. bought a new position in Moelis & Company in the 2nd quarter worth $62,000. Finally, Eaton Vance Management bought a new position in Moelis & Company in the 1st quarter worth $67,000. 84.81% of the stock is owned by hedge funds and other institutional investors.

About Moelis & Company

Moelis & Co operates as a holding company. It engages in the provision of financial advisory, capital raising and asset management services to a client base including corporations, governments, sovereign wealth funds and financial sponsors. The firm focuses on clients including large public multinational corporations, middle market private companies, financial sponsors, entrepreneurs and governments.

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Analyst Recommendations for Moelis & Company (NYSE:MC)

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