Brokerages Set Moelis & Co. (MC) Price Target at $28.60
Shares of Moelis & Co. (NYSE:MC) have been assigned an average recommendation of “Hold” from the eight brokerages that are currently covering the company. One research 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. The average 1 year target price among analysts that have issued ratings on the stock in the last year is $28.60.
A number of equities research analysts have recently issued reports on the stock. Zacks Investment Research raised shares of Moelis & Co. from a “sell” rating to a “hold” rating in a report on Wednesday, August 10th. Credit Suisse Group AG reaffirmed a “neutral” rating and set a $26.00 target price on shares of Moelis & Co. in a report on Sunday, November 20th. Finally, Sandler O’Neill lowered shares of Moelis & Co. from a “buy” rating to a “hold” rating and dropped their target price for the stock from $30.00 to $27.00 in a report on Thursday, October 13th.
A number of hedge funds and other institutional investors have recently made changes to their positions in the company. BlackRock Inc. raised its position in shares of Moelis & Co. by 234.8% in the third quarter. BlackRock Inc. now owns 4,232 shares of the company’s stock valued at $114,000 after buying an additional 2,968 shares during the period. Old Mutual Global Investors UK Ltd. bought a new position in shares of Moelis & Co. during the third quarter valued at $151,000. BlackRock Advisors LLC raised its position in shares of 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 period. Emerald Acquisition Ltd. bought a new position in shares of Moelis & Co. during the second quarter valued at $222,000. Finally, American International Group Inc. raised its position in shares of 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 period. 84.77% of the stock is owned by institutional investors.
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Shares of Moelis & Co. (NYSE:MC) opened at 29.75 on Friday. The company has a market cap of $613.00 million, a price-to-earnings ratio of 18.03 and a beta of 1.75. The stock has a 50 day moving average of $26.25 and a 200 day moving average of $25.91. 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 (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.34 by $0.10. Moelis & Co. had a net margin of 5.92% and a return on equity of 40.28%. The business earned $150.70 million during the quarter, compared to analyst estimates of $131.69 million. During the same quarter in the prior year, the firm earned $0.45 earnings per share. The company’s revenue for the quarter was down .7% compared to the same quarter last year. Analysts forecast that Moelis & Co. will post $1.63 earnings per share for the current year.
The business also recently announced a quarterly dividend, which will be paid on Wednesday, December 7th. Shareholders of record on Tuesday, November 22nd will be paid a dividend of $0.32 per share. This represents a $1.28 annualized dividend and a yield of 4.30%. The ex-dividend date of this dividend is Friday, November 18th. This is a positive change from Moelis & Co.’s previous quarterly dividend of $0.30. Moelis & Co.’s dividend payout ratio (DPR) is 85.91%.
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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