Perella Weinberg Partners (NASDAQ:PWP) Announces $0.07 Quarterly Dividend

Perella Weinberg Partners (NASDAQ:PWP) declared a quarterly dividend on Friday, February 6th. Stockholders of record on Tuesday, February 17th will be given a dividend of 0.07 per share on Monday, March 9th. This represents a c) annualized dividend and a dividend yield of 1.2%. The ex-dividend date is Tuesday, February 17th.

Perella Weinberg Partners has a payout ratio of 17.8% indicating that its dividend is sufficiently covered by earnings.

Perella Weinberg Partners Stock Up 8.0%

Shares of NASDAQ PWP traded up $1.72 during mid-day trading on Friday, reaching $23.25. 867,394 shares of the company were exchanged, compared to its average volume of 1,072,560. Perella Weinberg Partners has a 1 year low of $14.12 and a 1 year high of $25.83. The firm has a 50-day moving average of $19.36 and a 200 day moving average of $20.13. The stock has a market cap of $2.07 billion, a price-to-earnings ratio of 35.23 and a beta of 1.64.

Perella Weinberg Partners (NASDAQ:PWP) last posted its earnings results on Friday, February 6th. The company reported $0.17 earnings per share (EPS) for the quarter, meeting the consensus estimate of $0.17. The company had revenue of $219.16 million for the quarter, compared to analyst estimates of $192.84 million. Perella Weinberg Partners had a negative return on equity of 21.55% and a net margin of 6.15%.

Wall Street Analysts Forecast Growth

PWP has been the subject of several recent analyst reports. Wall Street Zen lowered shares of Perella Weinberg Partners from a “hold” rating to a “sell” rating in a research note on Sunday, December 14th. The Goldman Sachs Group reaffirmed a “sell” rating and set a $19.00 price target on shares of Perella Weinberg Partners in a research report on Tuesday, January 20th. Weiss Ratings reissued a “hold (c)” rating on shares of Perella Weinberg Partners in a research report on Thursday, January 22nd. Keefe, Bruyette & Woods boosted their target price on Perella Weinberg Partners from $19.00 to $20.00 and gave the stock a “market perform” rating in a research note on Wednesday, December 17th. Finally, Wolfe Research set a $21.00 target price on Perella Weinberg Partners in a research report on Wednesday, January 7th. One analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $22.25.

Perella Weinberg Partners Company Profile

Perella Weinberg Partners L.P. is a global, partner-led advisory firm specializing in strategic and financial counsel. Founded in 2006 by Joseph R. Perella and Peter Weinberg—both veterans of leading Wall Street institutions—the firm delivers independent advice on mergers and acquisitions, financing, restructuring and capital markets. As an independent entity, it emphasizes senior banker involvement throughout every transaction, ensuring clients benefit from depth of experience and continuity of service.

The firm’s core offerings encompass M&A advisory, debt and equity financing, corporate restructuring and capital markets solutions.