Credit Suisse Group AG Reiterates Neutral Rating for Moelis & Co. (MC)
Moelis & Co. (NYSE:MC)‘s stock had its “neutral” rating reaffirmed by Credit Suisse Group AG in a research note issued to investors on Sunday. They currently have a $26.00 price objective on the stock. Credit Suisse Group AG’s price target points to a potential downside of 10.19% from the stock’s current price.
Several other equities analysts also recently issued reports on the company. Sandler O’Neill downgraded Moelis & Co. from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $30.00 to $27.00 in a research report on Thursday, October 13th. Zacks Investment Research downgraded Moelis & Co. from a “hold” rating to a “strong sell” rating in a research report on Tuesday, October 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating and two have issued a buy rating to the stock. The company has a consensus rating of “Hold” and an average price target of $29.75.
Shares of Moelis & Co. (NYSE:MC) opened at 28.95 on Friday. The firm has a market cap of $596.51 million, a PE ratio of 17.55 and a beta of 1.75. The stock’s 50 day moving average price is $25.60 and its 200 day moving average price is $25.86. Moelis & Co. has a 12-month low of $21.91 and a 12-month high of $30.16.
Moelis & Co. (NYSE:MC) last issued its quarterly earnings data on Wednesday, October 26th. The company reported $0.44 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.34 by $0.10. The business earned $150.70 million during the quarter, compared to the consensus estimate of $131.69 million. Moelis & Co. had a return on equity of 40.28% and a net margin of 5.92%. The business’s revenue was down .7% on a year-over-year basis. During the same period in the previous year, the firm posted $0.45 earnings per share. On average, equities research analysts predict that Moelis & Co. will post $1.63 EPS for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Wednesday, December 7th. Shareholders of record on Tuesday, November 22nd will be issued a $0.32 dividend. The ex-dividend date of this dividend is Friday, November 18th. This represents a $1.28 annualized dividend and a dividend yield of 4.42%. This is a boost from Moelis & Co.’s previous quarterly dividend of $0.30. Moelis & Co.’s dividend payout ratio is currently 85.91%.
Hedge funds and other institutional investors have recently bought and sold shares of the stock. Dimensional Fund Advisors LP boosted its position in Moelis & Co. by 3.1% in the second quarter. Dimensional Fund Advisors LP now owns 288,192 shares of the company’s stock valued at $6,484,000 after buying an additional 8,644 shares in the last quarter. Victory Capital Management Inc. boosted its position in Moelis & Co. by 17.6% in the second quarter. Victory Capital Management Inc. now owns 15,222 shares of the company’s stock valued at $342,000 after buying an additional 2,277 shares in the last quarter. JPMorgan Chase & Co. boosted its position in Moelis & Co. by 9.3% in the second quarter. JPMorgan Chase & Co. now owns 1,175,914 shares of the company’s stock valued at $26,458,000 after buying an additional 99,629 shares in the last quarter. Royce & Associates LP boosted its position in Moelis & Co. by 9.8% in the second quarter. Royce & Associates LP now owns 2,015,571 shares of the company’s stock valued at $45,350,000 after buying an additional 179,115 shares in the last quarter. Finally, GSA Capital Partners LLP boosted its position in Moelis & Co. by 126.0% in the second quarter. GSA Capital Partners LLP now owns 41,484 shares of the company’s stock valued at $933,000 after buying an additional 23,125 shares in the last quarter. 84.31% of the stock is currently owned by 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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