Moelis & Company (NYSE:MC) Receives $59.83 Average Price Target from Brokerages

Shares of Moelis & Company (NYSE:MC - Get Free Report) have earned an average rating of "Reduce" from the seven ratings firms that are covering the stock, MarketBeat reports. Two research analysts have rated the stock with a sell recommendation, four have assigned a hold recommendation and one has issued a buy recommendation on the company. The average 12-month price objective among brokerages that have updated their coverage on the stock in the last year is $59.83.

A number of equities analysts recently weighed in on the stock. Wells Fargo & Company decreased their price objective on shares of Moelis & Company from $55.00 to $50.00 and set an "equal weight" rating for the company in a report on Thursday, April 24th. JPMorgan Chase & Co. dropped their price objective on shares of Moelis & Company from $55.00 to $52.00 and set a "neutral" rating for the company in a report on Thursday, April 24th. JMP Securities restated a "market perform" rating on shares of Moelis & Company in a research report on Thursday, April 24th. The Goldman Sachs Group upped their target price on shares of Moelis & Company from $56.00 to $63.00 and gave the stock a "neutral" rating in a research note on Thursday, May 15th. Finally, Wall Street Zen downgraded shares of Moelis & Company from a "buy" rating to a "hold" rating in a research note on Thursday, March 13th.

Institutional Investors Weigh In On Moelis & Company

Several hedge funds have recently modified their holdings of the company. eCIO Inc. acquired a new stake in shares of Moelis & Company during the 1st quarter worth about $50,000. Invst LLC acquired a new stake in shares of Moelis & Company in the first quarter worth approximately $688,000. Strs Ohio acquired a new stake in shares of Moelis & Company in the first quarter worth approximately $1,191,000. Intech Investment Management LLC boosted its position in shares of Moelis & Company by 61.6% in the first quarter. Intech Investment Management LLC now owns 41,063 shares of the asset manager's stock worth $2,396,000 after acquiring an additional 15,645 shares during the last quarter. Finally, Empowered Funds LLC boosted its position in shares of Moelis & Company by 37.6% in the first quarter. Empowered Funds LLC now owns 42,828 shares of the asset manager's stock worth $2,499,000 after acquiring an additional 11,692 shares during the last quarter. 91.53% of the stock is owned by institutional investors and hedge funds.

Moelis & Company Stock Performance

NYSE MC traded down $3.05 on Thursday, hitting $55.86. 1,050,800 shares of the stock traded hands, compared to its average volume of 789,056. Moelis & Company has a 12 month low of $47.00 and a 12 month high of $82.89. The business's fifty day moving average is $55.45 and its two-hundred day moving average is $65.32. The firm has a market capitalization of $4.39 billion, a price-to-earnings ratio of 31.74 and a beta of 1.64.

Moelis & Company (NYSE:MC - Get Free Report) last released its quarterly earnings results on Wednesday, April 23rd. The asset manager reported $0.64 earnings per share for the quarter, beating analysts' consensus estimates of $0.57 by $0.07. The business had revenue of $306.59 million for the quarter, compared to the consensus estimate of $309.67 million. Moelis & Company had a return on equity of 38.49% and a net margin of 11.39%. The company's revenue for the quarter was up 41.0% on a year-over-year basis. During the same quarter last year, the business posted $0.22 earnings per share. Analysts expect that Moelis & Company will post 2.97 EPS for the current fiscal year.

Moelis & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, June 20th. Investors of record on Monday, May 5th will be paid a $0.65 dividend. The ex-dividend date of this dividend is Monday, May 5th. This represents a $2.60 dividend on an annualized basis and a yield of 4.65%. Moelis & Company's payout ratio is 119.27%.

About Moelis & Company

Moelis & Co operates as a holding company. It engages in the provision of financial advisory, capital raising and asset management services to a client base including corporations, governments, sovereign wealth funds and financial sponsors. The firm focuses on clients including large public multinational corporations, middle market private companies, financial sponsors, entrepreneurs and governments.