Moelis & Co. (MC) Upgraded to Buy at TheStreet
Several other brokerages have also recently issued reports on MC. Credit Suisse Group AG reaffirmed a neutral rating and set a $26.00 price objective on shares of Moelis & Co. in a report on Sunday, November 20th. Zacks Investment Research raised Moelis & Co. from a sell rating to a hold rating in a report on Wednesday, August 10th. Finally, Sandler O’Neill cut Moelis & Co. from a buy rating to a hold rating and cut their price target for the stock from $30.00 to $27.00 in a report on Thursday, October 13th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating and three have issued a buy rating to the company. The company presently has an average rating of Hold and a consensus target price of $29.75.
Shares of Moelis & Co. (NYSE:MC) traded down 5.21% during trading on Friday, reaching $28.20. The company had a trading volume of 149,077 shares. The firm has a market capitalization of $581.06 million, a price-to-earnings ratio of 17.09 and a beta of 1.75. The firm has a 50-day moving average of $26.32 and a 200 day moving average of $25.90. Moelis & Co. has a 52 week low of $21.91 and a 52 week 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 consensus estimate of $0.34 by $0.10. The firm earned $150.70 million during the quarter, compared to analysts’ expectations of $131.69 million. Moelis & Co. had a return on equity of 40.28% and a net margin of 5.92%. Moelis & Co.’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 forecast that Moelis & Co. will post $1.63 earnings per share for the current year.
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The firm also recently announced a quarterly dividend, which will be paid on Wednesday, December 7th. Investors of record on Tuesday, November 22nd will be paid a $0.32 dividend. This is a positive change from Moelis & Co.’s previous quarterly dividend of $0.30. This represents a $1.28 annualized dividend and a yield of 4.54%. The ex-dividend date of this dividend is Friday, November 18th. Moelis & Co.’s dividend payout ratio is presently 85.91%.
A number of institutional investors have recently added to or reduced their stakes in the stock. BlackRock Inc. raised its position in 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 last quarter. Old Mutual Global Investors UK Ltd. acquired a new position in Moelis & Co. during the third quarter valued at approximately $151,000. BlackRock Advisors LLC raised its position 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. acquired a new position in Moelis & Co. during the second quarter valued at approximately $222,000. Finally, First Trust Advisors LP acquired a new position in Moelis & Co. during the third quarter valued at approximately $272,000. Hedge funds and other institutional investors own 84.19% of the company’s stock.
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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