Moelis & Company (NYSE:MC) Declares Quarterly Dividend of $0.60

Moelis & Company (NYSE:MC) announced a quarterly dividend on Wednesday, April 24th, Zacks reports. Stockholders of record on Monday, May 6th will be paid a dividend of 0.60 per share by the asset manager on Thursday, June 20th. This represents a $2.40 annualized dividend and a dividend yield of 4.76%. The ex-dividend date is Friday, May 3rd.

Moelis & Company has increased its dividend payment by an average of 19.6% per year over the last three years. Moelis & Company has a payout ratio of 95.6% meaning its dividend is currently covered by earnings, but may not be in the future if the company’s earnings decline. Equities research analysts expect Moelis & Company to earn $2.75 per share next year, which means the company should continue to be able to cover its $2.40 annual dividend with an expected future payout ratio of 87.3%.

Moelis & Company Price Performance

Shares of Moelis & Company stock opened at $50.40 on Thursday. The firm has a fifty day moving average price of $53.74 and a two-hundred day moving average price of $51.71. Moelis & Company has a fifty-two week low of $33.87 and a fifty-two week high of $58.67.

Moelis & Company (NYSE:MC) last issued its quarterly earnings results on Wednesday, April 24th. The asset manager reported $0.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.11. Moelis & Company had a negative return on equity of 0.12% and a negative net margin of 1.33%. The firm had revenue of $217.49 million for the quarter, compared to analyst estimates of $219.30 million. During the same period in the previous year, the company posted $0.05 earnings per share. The company’s quarterly revenue was up 17.4% compared to the same quarter last year. As a group, analysts expect that Moelis & Company will post 1.3 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. StockNews.com raised Moelis & Company from a “sell” rating to a “hold” rating in a report on Thursday, February 8th. JPMorgan Chase & Co. upped their price target on Moelis & Company from $46.00 to $57.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. JMP Securities reissued a “market perform” rating on shares of Moelis & Company in a report on Tuesday, April 9th. The Goldman Sachs Group raised shares of Moelis & Company from a “sell” rating to a “neutral” rating and lifted their price target for the company from $53.00 to $58.00 in a report on Wednesday, March 13th. Finally, UBS Group upped their price objective on shares of Moelis & Company from $45.00 to $47.00 and gave the stock a “sell” rating in a research note on Thursday, April 25th. Two research analysts have rated the stock with a sell rating and five have assigned a hold rating to the company’s stock. According to data from MarketBeat, Moelis & Company currently has an average rating of “Hold” and an average price target of $50.80.

Insider Activity

In other Moelis & Company news, insider Christopher Callesano sold 1,040 shares of the company’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $53.59, for a total transaction of $55,733.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In other Moelis & Company news, insider Christopher Callesano sold 1,040 shares of Moelis & Company stock in a transaction on Thursday, February 8th. The shares were sold at an average price of $53.59, for a total transaction of $55,733.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, COO Ciafone Katherine Pilcher sold 4,798 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $52.60, for a total transaction of $252,374.80. Following the sale, the chief operating officer now owns 3,666 shares of the company’s stock, valued at approximately $192,831.60. The disclosure for this sale can be found here. Insiders have sold 375,185 shares of company stock valued at $20,130,225 over the last 90 days. 6.96% of the stock is 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.