Moelis & Company (MC) Price Target Increased to $45.00 by Analysts at Bank of America Corporation
Moelis & Company (NYSE:MC) had its price target increased by Bank of America Corporation from $43.00 to $45.00 in a research note issued to investors on Tuesday. They currently have a buy rating on the asset manager’s stock.
MC has been the topic of several other reports. Keefe, Bruyette & Woods upgraded Moelis & to a hold rating and set a $39.00 target price on the stock in a report on Thursday, May 4th. UBS AG reiterated a neutral rating and set a $42.00 target price (up from $40.00) on shares of Moelis & in a report on Tuesday. ValuEngine upgraded Moelis & from a hold rating to a buy rating in a report on Thursday, June 1st. BidaskClub upgraded Moelis & from a buy rating to a strong-buy rating in a report on Wednesday, July 12th. Finally, Zacks Investment Research downgraded Moelis & from a hold rating to a sell rating in a report on Wednesday, April 12th. Four research analysts have rated the stock with a hold rating, six have assigned a buy rating and two have issued a strong buy rating to the stock. Moelis & currently has an average rating of Buy and an average price target of $39.22.
Shares of Moelis & (NYSE:MC) traded down 1.36% during midday trading on Tuesday, reaching $39.75. 590,237 shares of the company’s stock traded hands. Moelis & has a 52 week low of $23.60 and a 52 week high of $44.85. The company has a market capitalization of $1.06 billion, a PE ratio of 17.77 and a beta of 1.87. The stock’s 50 day moving average is $39.20 and its 200-day moving average is $37.29.
Moelis & (NYSE:MC) last announced its earnings results on Monday, July 24th. The asset manager reported $0.66 EPS for the quarter, beating the consensus estimate of $0.51 by $0.15. The business had revenue of $172.10 million for the quarter, compared to the consensus estimate of $156.85 million. Moelis & had a return on equity of 53.43% and a net margin of 8.50%. The company’s revenue was up 30.7% on a year-over-year basis. During the same period last year, the business posted $0.35 EPS. On average, analysts forecast that Moelis & will post $2.25 earnings per share for the current fiscal year.
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The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 17th. Shareholders of record on Thursday, August 3rd will be paid a dividend of $0.37 per share. The ex-dividend date is Tuesday, August 1st. This represents a $1.48 dividend on an annualized basis and a yield of 3.72%. Moelis &’s dividend payout ratio (DPR) is presently 74.00%.
In other Moelis & news, Chairman Kenneth Moelis sold 15,000 shares of the firm’s stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $37.46, for a total transaction of $561,900.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 64.47% of the stock is owned by company insiders.
A number of large investors have recently modified their holdings of the stock. Renaissance Technologies LLC raised its stake in shares of Moelis & by 2.0% in the fourth quarter. Renaissance Technologies LLC now owns 224,000 shares of the asset manager’s stock worth $7,594,000 after buying an additional 4,447 shares during the period. State Street Corp raised its stake in shares of Moelis & by 7.5% in the fourth quarter. State Street Corp now owns 325,602 shares of the asset manager’s stock worth $11,038,000 after buying an additional 22,706 shares during the period. Ameriprise Financial Inc. raised its stake in shares of Moelis & by 46.1% in the first quarter. Ameriprise Financial Inc. now owns 809,874 shares of the asset manager’s stock worth $31,182,000 after buying an additional 255,669 shares during the period. Deprince Race & Zollo Inc. acquired a new stake in shares of Moelis & during the first quarter worth $39,733,000. Finally, James Investment Research Inc. acquired a new stake in shares of Moelis & during the first quarter worth $2,082,000. Hedge funds and other institutional investors own 93.93% of the company’s stock.
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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