Zacks Investment Research Lowers Moelis & Co. (MC) to Strong Sell
Moelis & Co. (NYSE:MC) was downgraded by Zacks Investment Research from a “hold” rating to a “strong sell” rating in a note issued to investors on Tuesday.
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. “
Separately, Credit Suisse Group AG restated a “hold” rating on shares of Moelis & Co. in a research note on Tuesday, June 28th. One analyst has rated the stock with a sell rating, four have issued a hold rating and three have assigned a buy rating to the company. The stock presently has a consensus rating of “Hold” and a consensus price target of $31.00.
Shares of Moelis & Co. (NYSE:MC) opened at 25.80 on Tuesday. The firm has a market cap of $531.45 million, a PE ratio of 15.37 and a beta of 1.73. Moelis & Co. has a 52 week low of $21.91 and a 52 week high of $31.84. The stock’s 50 day moving average is $26.36 and its 200-day moving average is $26.25.
Moelis & Co. (NYSE:MC) last posted its 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. The firm earned $131.70 million during the quarter, compared to analysts’ expectations of $131.44 million. Moelis & Co. had a return on equity of 35.37% and a net margin of 6.01%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.37 earnings per share. On average, equities analysts predict that Moelis & Co. will post $1.62 EPS for the current fiscal year.
Large investors have recently modified their holdings of the stock. Emerald Acquisition Ltd. bought a new position in Moelis & Co. during the second quarter worth about $222,000. Kleinwort Benson Investors Dublin Ltd bought a new position in Moelis & Co. during the second quarter worth about $616,000. Swiss National Bank raised its position in Moelis & Co. by 13.8% in the second quarter. Swiss National Bank now owns 33,000 shares of the company’s stock worth $743,000 after buying an additional 4,000 shares during the last quarter. California State Teachers Retirement System raised its position in Moelis & Co. by 4.5% in the second quarter. California State Teachers Retirement System now owns 38,972 shares of the company’s stock worth $877,000 after buying an additional 1,669 shares during the last quarter. Finally, Bank of New York Mellon Corp raised its position in Moelis & Co. by 3.5% in the second quarter. Bank of New York Mellon Corp now owns 104,539 shares of the company’s stock worth $2,353,000 after buying an additional 3,575 shares during the last quarter. Institutional investors own 84.45% of the company’s stock.
About Moelis & Co.
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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