Moelis & Company (NYSE:MC) Announces Quarterly Earnings Results, Beats Expectations By $0.11 EPS

Moelis & Company (NYSE:MC) released its quarterly earnings results on Wednesday. The asset manager reported $0.22 EPS for the quarter, beating the consensus estimate of $0.11 by $0.11, Briefing.com reports. The firm had revenue of $217.49 million during the quarter, compared to the consensus estimate of $219.30 million. Moelis & Company had a negative net margin of 1.33% and a negative return on equity of 0.13%. Moelis & Company’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.05 EPS.

Moelis & Company Trading Up 0.2 %

Shares of NYSE:MC traded up $0.12 on Friday, reaching $50.38. 177,704 shares of the company were exchanged, compared to its average volume of 637,656. Moelis & Company has a 1-year low of $33.87 and a 1-year high of $58.67. The firm has a market cap of $3.59 billion, a price-to-earnings ratio of -264.53 and a beta of 1.35. The company has a 50-day moving average of $54.19 and a 200-day moving average of $51.50.

Moelis & Company Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, June 20th. Stockholders of record on Monday, May 6th will be paid a dividend of $0.60 per share. The ex-dividend date is Friday, May 3rd. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.76%. Moelis & Company’s dividend payout ratio (DPR) is presently -1,263.16%.

Wall Street Analyst Weigh In

Several brokerages have issued reports on MC. JMP Securities reissued a “market perform” rating on shares of Moelis & Company in a research note on Tuesday, April 9th. UBS Group boosted their price objective on shares of Moelis & Company from $45.00 to $47.00 and gave the company a “sell” rating in a research note on Thursday. The Goldman Sachs Group raised shares of Moelis & Company from a “sell” rating to a “neutral” rating and boosted their price objective for the company from $53.00 to $58.00 in a research note on Wednesday, March 13th. StockNews.com raised shares of Moelis & Company from a “sell” rating to a “hold” rating in a research note on Thursday, February 8th. Finally, Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $54.00 price objective (down from $58.00) on shares of Moelis & Company in a research note on Thursday. Two analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $50.80.

Insider Transactions at Moelis & Company

In related news, CEO Kenneth Moelis sold 75,000 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $54.11, for a total value of $4,058,250.00. Following the sale, the chief executive officer now directly owns 86,441 shares of the company’s stock, valued at approximately $4,677,322.51. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other Moelis & Company news, insider Navid Mahmoodzadegan sold 50,772 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $54.11, for a total value of $2,747,272.92. Following the transaction, the insider now directly owns 64,463 shares in the company, valued at approximately $3,488,092.93. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Kenneth Moelis sold 75,000 shares of the stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $54.11, for a total transaction of $4,058,250.00. Following the transaction, the chief executive officer now owns 86,441 shares in the company, valued at $4,677,322.51. The disclosure for this sale can be found here. Insiders have sold a total of 375,185 shares of company stock valued at $20,130,225 in the last ninety days. 6.96% of the stock is currently owned by company insiders.

About Moelis & Company

Moelis & Company operates as an investment banking advisory firm. It offers advisory services in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets transactions, and other corporate finance matters, as well as strategic, capital structure, and private funds advisory.