Moelis & Co. (MC) Upgraded to “Buy” at Zacks Investment Research
Moelis & Co. (NYSE:MC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a report released on Tuesday. The brokerage presently has a $29.00 target price on the stock. Zacks Investment Research’s price target points to a potential upside of 10.18% from the stock’s current price.
According to Zacks, “Moelis & Company is a global independent investment bank. The Company provides innovative strategic advice and solutions to a diverse client base, including corporations, governments and financial sponsors. It advises clients in the areas of mergers and acquisitions, recapitalizations and restructurings, and other corporate finance matters. Moelis & Company is based in New York. “
Other research analysts have also issued reports about the stock. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Moelis & Co. in a research note on Tuesday, June 28th. Morgan Stanley reaffirmed a “buy” rating on shares of Moelis & Co. in a research note on Tuesday, June 7th. Four research analysts have rated the stock with a hold rating and six have given a buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $31.00.
Moelis & Co. (NYSE:MC) opened at 26.32 on Tuesday. The company has a market capitalization of $542.17 million, a price-to-earnings ratio of 15.68 and a beta of 1.73. The company has a 50 day moving average of $26.39 and a 200 day moving average of $26.30. Moelis & Co. has a 52 week low of $21.91 and a 52 week high of $31.84.
Moelis & Co. (NYSE:MC) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported $0.35 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.06. Moelis & Co. had a net margin of 6.01% and a return on equity of 35.37%. The company had revenue of $131.70 million for the quarter, compared to analysts’ expectations of $131.44 million. During the same quarter in the previous year, the business posted $0.37 earnings per share. Moelis & Co.’s quarterly revenue was up 4.7% on a year-over-year basis. On average, equities analysts forecast that Moelis & Co. will post $1.66 EPS for the current fiscal year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Monday, August 22nd were paid a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a dividend yield of 4.56%. The ex-dividend date was Thursday, August 18th. Moelis & Co.’s dividend payout ratio is currently 81.53%.
Several hedge funds have recently modified their holdings of MC. Legal & General Group Plc raised its stake in shares of Moelis & Co. by 86.3% in the first quarter. Legal & General Group Plc now owns 3,519 shares of the company’s stock worth $100,000 after buying an additional 1,630 shares in the last quarter. BlackRock Advisors LLC increased its stake in Moelis & Co. by 10.8% in the second quarter. BlackRock Advisors LLC now owns 9,460 shares of the company’s stock valued at $213,000 after buying an additional 920 shares during the last quarter. Emerald Acquisition Ltd. purchased a new stake in Moelis & Co. during the second quarter valued at $222,000. American International Group Inc. increased its stake in Moelis & Co. by 3.8% in the second quarter. American International Group Inc. now owns 10,699 shares of the company’s stock valued at $241,000 after buying an additional 396 shares during the last quarter. Finally, Clinton Group Inc. purchased a new stake in Moelis & Co. during the second quarter valued at $246,000. 84.45% of the stock is owned by hedge funds and other institutional investors.
Moelis & Co. Company Profile
Moelis & Company is an investment banking advisory firm. The Company provides strategic and financial advice to a client base, including corporations, governments and financial sponsors. The Company offers financial advisory services across various industry sectors. The Company advices its clients on decisions, including mergers and acquisitions (M&A), recapitalizations and restructurings, and other corporate finance matters.
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