Moelis & Company (NYSE:MC) Receives $59.83 Consensus PT from Analysts

Moelis & Company (NYSE:MC) has been assigned an average recommendation of “Reduce” from the seven analysts that are presently covering the stock, Marketbeat reports. Two research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has given a buy recommendation to the company. The average 12-month price target among analysts that have covered the stock in the last year is $59.83.

MC has been the topic of a number of recent research reports. JPMorgan Chase & Co. cut their target price on shares of Moelis & Company from $55.00 to $52.00 and set a “neutral” rating on the stock in a report on Thursday, April 24th. The Goldman Sachs Group lifted their price objective on shares of Moelis & Company from $56.00 to $63.00 and gave the company a “neutral” rating in a research note on Thursday, May 15th. Wells Fargo & Company dropped their price objective on Moelis & Company from $55.00 to $50.00 and set an “equal weight” rating on the stock in a research note on Thursday, April 24th. JMP Securities reiterated a “market perform” rating on shares of Moelis & Company in a report on Thursday, April 24th. Finally, Wall Street Zen lowered Moelis & Company from a “buy” rating to a “hold” rating in a research report on Thursday, March 13th.

Moelis & Company Trading Up 1.1%

Shares of NYSE:MC opened at $56.62 on Thursday. Moelis & Company has a 12-month low of $47.00 and a 12-month high of $82.89. The firm has a market cap of $4.45 billion, a price-to-earnings ratio of 32.17 and a beta of 1.64. The stock’s 50-day moving average price is $55.60 and its two-hundred day moving average price is $65.18.

Moelis & Company (NYSE:MC) last announced its earnings results on Wednesday, April 23rd. The asset manager reported $0.64 earnings per share for the quarter, beating the consensus estimate of $0.57 by $0.07. The business had revenue of $306.59 million during the quarter, compared to the consensus estimate of $309.67 million. Moelis & Company had a net margin of 11.39% and a return on equity of 38.49%. The business’s quarterly revenue was up 41.0% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.22 earnings per share. As a group, research analysts forecast that Moelis & Company will post 2.97 earnings per share for the current fiscal year.

Moelis & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Friday, June 20th. Shareholders of record on Monday, May 5th will be given a dividend of $0.65 per share. The ex-dividend date of this dividend is Monday, May 5th. This represents a $2.60 dividend on an annualized basis and a yield of 4.59%. Moelis & Company’s payout ratio is presently 119.27%.

Institutional Investors Weigh In On Moelis & Company

Several hedge funds have recently bought and sold shares of the company. Charles Schwab Investment Management Inc. increased its holdings in Moelis & Company by 214.5% during the first quarter. Charles Schwab Investment Management Inc. now owns 2,942,299 shares of the asset manager’s stock worth $171,713,000 after buying an additional 2,006,747 shares during the last quarter. Madison Investment Advisors LLC acquired a new position in Moelis & Company in the 4th quarter valued at $86,062,000. Norges Bank acquired a new position in shares of Moelis & Company in the fourth quarter valued at about $52,610,000. Goldman Sachs Group Inc. grew its position in Moelis & Company by 32.6% during the first quarter. Goldman Sachs Group Inc. now owns 2,356,893 shares of the asset manager’s stock worth $137,548,000 after buying an additional 579,529 shares in the last quarter. Finally, Balyasny Asset Management L.P. grew its holdings in shares of Moelis & Company by 215.5% during the 4th quarter. Balyasny Asset Management L.P. now owns 723,384 shares of the asset manager’s stock worth $53,444,000 after purchasing an additional 494,123 shares in the last quarter. 91.53% of the stock is currently owned by institutional investors and hedge funds.

Moelis & Company Company Profile

Moelis & Co operates as a holding company. It engages in the provision of financial advisory, capital raising and asset management services to a client base including corporations, governments, sovereign wealth funds and financial sponsors. The firm focuses on clients including large public multinational corporations, middle market private companies, financial sponsors, entrepreneurs and governments.