Moelis & Company (NYSE:MC) Announces Quarterly Earnings Results

Moelis & Company (NYSE:MC) issued its earnings results on Tuesday. The asset manager reported $1.19 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.83 by $0.36, MarketWatch Earnings reports. The firm had revenue of $360.91 million during the quarter, compared to the consensus estimate of $274.36 million. Moelis & Company had a return on equity of 56.19% and a net margin of 20.91%. The business’s quarterly revenue was up 125.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.11) earnings per share.

Shares of Moelis & Company stock traded up $3.14 during trading hours on Thursday, hitting $59.83. 10,901 shares of the company’s stock traded hands, compared to its average volume of 454,098. Moelis & Company has a 12-month low of $28.77 and a 12-month high of $59.63. The stock has a market capitalization of $3.83 billion, a PE ratio of 17.69 and a beta of 1.21. The stock’s fifty day moving average is $54.37.

The firm also recently announced a quarterly dividend, which was paid on Tuesday, May 18th. Stockholders of record on Monday, May 10th were given a dividend of $0.55 per share. This represents a $2.20 annualized dividend and a dividend yield of 3.68%. The ex-dividend date of this dividend was Friday, May 7th. Moelis & Company’s dividend payout ratio is presently 75.60%.

Several research firms have recently issued reports on MC. Wolfe Research raised Moelis & Company from an “underperform” rating to a “peer perform” rating and set a $63.00 price objective for the company in a research note on Thursday, June 17th. Morgan Stanley increased their target price on shares of Moelis & Company from $60.00 to $63.00 and gave the company an “equal weight” rating in a research report on Thursday. Zacks Investment Research downgraded shares of Moelis & Company from a “buy” rating to a “hold” rating and set a $58.00 target price for the company. in a research report on Wednesday, June 9th. Finally, JMP Securities reissued a “market perform” rating on shares of Moelis & Company in a research report on Thursday, April 15th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has given a buy rating to the company’s stock. Moelis & Company currently has a consensus rating of “Hold” and a consensus target price of $51.56.

In other news, CEO Kenneth Moelis sold 18,184 shares of the firm’s stock in a transaction on Friday, April 23rd. The stock was sold at an average price of $57.11, for a total transaction of $1,038,488.24. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Over the last ninety days, insiders have sold 30,051 shares of company stock valued at $1,715,368. Insiders own 17.99% of the company’s stock.

About Moelis & Company

Moelis & Company operates as an investment banking advisory firm in the United States, Europe, and internationally. It offers advisory services in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets transactions, and other corporate finance matters. The company offers its services to public multinational corporations, middle market private companies, financial sponsors, entrepreneurs, and governments.

Recommended Story: Environmental, Social, and Governance (ESG) Investing

Earnings History for Moelis & Company (NYSE:MC)

Receive News & Ratings for Moelis & Company Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Moelis & Company and related companies with MarketBeat.com's FREE daily email newsletter.