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

Moelis & Company (NYSE:MC) issued its earnings results on Wednesday. The asset manager reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.11 by $0.11, Briefing.com reports. The business had revenue of $217.49 million during the quarter, compared to analyst estimates of $219.30 million. Moelis & Company had a negative return on equity of 0.13% and a negative net margin of 1.33%. 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 earnings per share.

Moelis & Company Trading Up 0.2 %

NYSE MC traded up $0.12 during trading on Friday, hitting $50.38. The company had a trading volume of 177,704 shares, compared to its average volume of 637,656. The company’s fifty day moving average is $54.19 and its 200-day moving average is $51.50. The company has a market cap of $3.59 billion, a price-to-earnings ratio of -264.53 and a beta of 1.35. Moelis & Company has a one year low of $33.87 and a one year high of $58.67.

Moelis & Company Announces Dividend

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

Analyst Ratings Changes

MC has been the subject of a number of recent research reports. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $54.00 price objective (down from $58.00) on shares of Moelis & Company in a report on Thursday. JMP Securities reiterated a “market perform” rating on shares of Moelis & Company in a report on Tuesday, April 9th. The Goldman Sachs Group upgraded shares of Moelis & Company from a “sell” rating to a “neutral” rating and upped their price target for the company from $53.00 to $58.00 in a report on Wednesday, March 13th. UBS Group upped their price target on shares of Moelis & Company from $45.00 to $47.00 and gave the company a “sell” rating in a report on Thursday. Finally, JPMorgan Chase & Co. upped their price objective on shares of Moelis & Company from $46.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. Two equities research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $50.80.

Insider Transactions at Moelis & Company

In other news, CFO Joseph Simon sold 8,573 shares of the company’s stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $54.13, for a total value of $464,056.49. The transaction was disclosed in a filing with the SEC, which is available through this link. In related news, CEO Kenneth Moelis sold 128,277 shares of the stock in a transaction dated Wednesday, February 21st. The shares were sold at an average price of $52.60, for a total transaction of $6,747,370.20. Following the sale, the chief executive officer now directly owns 161,810 shares of the company’s stock, valued at approximately $8,511,206. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CFO Joseph Simon sold 8,573 shares of the stock in a transaction dated Thursday, February 29th. The shares were sold at an average price of $54.13, for a total transaction of $464,056.49. The disclosure for this sale can be found here. Insiders have sold 375,185 shares of company stock valued at $20,130,225 in the last three months. 6.96% of the stock is currently owned by company insiders.

Moelis & Company Company Profile

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.