Moelis & Company (NYSE:MC) Announces Earnings Results, Beats Expectations By $0.36 EPS

Moelis & Company (NYSE:MC) posted its quarterly earnings data on Tuesday. The asset manager reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.36, MarketWatch Earnings reports. The company had revenue of $360.91 million during the quarter, compared to analysts’ expectations of $274.36 million. Moelis & Company had a return on equity of 56.19% and a net margin of 20.91%. Moelis & Company’s revenue for the quarter was up 125.7% compared to the same quarter last year. During the same quarter in the prior year, the business earned ($0.11) earnings per share.

Moelis & Company stock traded up $3.14 during midday trading on Thursday, reaching $59.83. 10,901 shares of the stock traded hands, compared to its average volume of 454,098. The company has a market cap of $3.83 billion, a PE ratio of 17.69 and a beta of 1.21. Moelis & Company has a 12 month low of $28.77 and a 12 month high of $59.63. The business’s fifty day moving average price is $54.37.

The company also recently declared a quarterly dividend, which was paid on Tuesday, May 18th. Investors of record on Monday, May 10th were paid a dividend of $0.55 per share. This represents a $2.20 dividend on an annualized basis and a yield of 3.68%. The ex-dividend date was Friday, May 7th. Moelis & Company’s payout ratio is presently 75.60%.

MC has been the subject of a number of research reports. Wolfe Research upgraded Moelis & Company from an “underperform” rating to a “peer perform” rating and set a $63.00 price objective for the company in a research report on Thursday, June 17th. Morgan Stanley upped their price target on Moelis & Company from $60.00 to $63.00 and gave the stock an “equal weight” rating in a research report on Thursday. Zacks Investment Research cut Moelis & Company from a “buy” rating to a “hold” rating and set a $58.00 price target for the company. in a research report on Wednesday, June 9th. Finally, JMP Securities reissued a “market perform” rating on shares of Moelis & Company in a research note on Thursday, April 15th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and a consensus price target of $51.56.

In other news, CEO Kenneth Moelis sold 18,184 shares of the firm’s stock in a transaction that occurred on Friday, April 23rd. The stock was sold at an average price of $57.11, for a total value of $1,038,488.24. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders sold a total of 30,051 shares of company stock valued at $1,715,368 over the last ninety days. Corporate insiders own 17.99% of the company’s stock.

Moelis & Company Company Profile

Moelis & Company operates as an investment banking advisory firm in the United States, Europe, and internationally. It offers advisory services in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets transactions, and other corporate finance matters. The company offers its services to public multinational corporations, middle market private companies, financial sponsors, entrepreneurs, and governments.

Further Reading: Quiet Period Expirations Explained

Earnings History for Moelis & Company (NYSE:MC)

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