Moelis & Co. (MC) to Issue Quarterly Dividend of $0.32 on December 7th
Moelis & Co. (NYSE:MC) declared a quarterly dividend on Thursday, October 27th. Shareholders of record on Tuesday, November 22nd will be paid a dividend of 0.32 per share on Wednesday, December 7th. This represents a $1.28 dividend on an annualized basis and a yield of 4.44%. The ex-dividend date is Friday, November 18th. This is a boost from Moelis & Co.’s previous quarterly dividend of $0.30.
Moelis & Co. (NYSE:MC) opened at 28.80 on Thursday. The stock has a market cap of $593.42 million, a price-to-earnings ratio of 17.45 and a beta of 1.75. The firm has a 50-day moving average price of $25.73 and a 200-day moving average price of $25.82. Moelis & Co. has a 12 month low of $21.91 and a 12 month high of $30.16.
Moelis & Co. (NYSE:MC) last released its earnings results on Wednesday, October 26th. The company reported $0.44 earnings per share for the quarter, topping analysts’ consensus estimates of $0.34 by $0.10. Moelis & Co. had a return on equity of 40.28% and a net margin of 5.92%. The business had revenue of $150.70 million for the quarter, compared to analyst estimates of $131.69 million. During the same quarter last year, the firm posted $0.45 earnings per share. The business’s revenue was down .7% compared to the same quarter last year. Equities research analysts expect that Moelis & Co. will post $1.63 earnings per share for the current fiscal year.
Large investors have recently modified their holdings of the stock. Highbridge Capital Management LLC bought a new stake in shares of Moelis & Co. during the third quarter worth $829,000. D. E. Shaw & Co. Inc. increased its stake in shares of Moelis & Co. by 178.3% in the third quarter. D. E. Shaw & Co. Inc. now owns 68,626 shares of the company’s stock worth $1,845,000 after buying an additional 43,970 shares during the last quarter. Clinton Group Inc. increased its stake in shares of Moelis & Co. by 24.8% in the third quarter. Clinton Group Inc. now owns 13,653 shares of the company’s stock worth $367,000 after buying an additional 2,709 shares during the last quarter. The Manufacturers Life Insurance Company bought a new stake in shares of Moelis & Co. during the third quarter worth $2,736,000. Finally, UBS Group AG increased its stake in shares of Moelis & Co. by 112.0% in the third quarter. UBS Group AG now owns 134,709 shares of the company’s stock worth $3,622,000 after buying an additional 71,181 shares during the last quarter. 84.31% of the stock is currently owned by institutional investors.
A number of equities analysts have recently issued reports on MC shares. Zacks Investment Research raised Moelis & Co. from a “sell” rating to a “hold” rating in a research report on Wednesday, August 10th. Sandler O’Neill downgraded Moelis & Co. from a “buy” rating to a “hold” rating and dropped their price target for the stock from $30.00 to $27.00 in a research report on Thursday, October 13th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and two have assigned a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $30.13.
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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