Moelis & Company (NYSE:MC) Releases Quarterly Earnings Results, Beats Estimates By $0.21 EPS

Key Points

• Moelis & Company reported a quarterly earnings of $0.53 EPS, exceeding analyst estimates by $0.21 and achieving a revenue of $365.38 million, which is significantly higher than the forecasted $269.57 million.
• The firm announced a quarterly dividend of $0.65 per share, providing a 3.70% yield, and noted a dividend payout ratio of 119.27%.
• Moelis & Company's stock saw a price drop of 1.1% to $70.26, with analysts maintaining an average rating of "Hold" and a target price of $66.00.

Moelis & Company (NYSE:MC - Get Free Report) released its quarterly earnings results on Thursday. The asset manager reported $0.53 EPS for the quarter, topping the consensus estimate of $0.32 by $0.21, Zacks reports. The business had revenue of $365.38 million during the quarter, compared to analyst estimates of $269.57 million. Moelis & Company had a net margin of 14.31% and a return on equity of 45.30%. The company's quarterly revenue was up 38.1% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.18 earnings per share.

Moelis & Company Trading Down 1.1%

MC stock traded down $0.78 during mid-day trading on Friday, reaching $70.26. 1,564,320 shares of the stock traded hands, compared to its average volume of 828,817. Moelis & Company has a 52-week low of $47.00 and a 52-week high of $82.89. The company has a market cap of $5.52 billion, a P/E ratio of 27.66 and a beta of 1.64. The stock's fifty day moving average is $62.30 and its 200-day moving average is $63.46.

Moelis & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, September 18th. Shareholders of record on Monday, August 4th will be paid a dividend of $0.65 per share. This represents a $2.60 dividend on an annualized basis and a yield of 3.70%. The ex-dividend date is Monday, August 4th. Moelis & Company's dividend payout ratio is presently 119.27%.

Analyst Ratings Changes

Several equities analysts have recently commented on the stock. The Goldman Sachs Group upped their price target on shares of Moelis & Company from $56.00 to $63.00 and gave the stock a "neutral" rating in a research report on Thursday, May 15th. JMP Securities reiterated a "market perform" rating on shares of Moelis & Company in a research report on Thursday, April 24th. Morgan Stanley upgraded shares of Moelis & Company from an "underweight" rating to an "overweight" rating and increased their target price for the company from $42.00 to $68.00 in a research report on Monday, June 23rd. Wells Fargo & Company increased their target price on shares of Moelis & Company from $50.00 to $64.00 and gave the company an "equal weight" rating in a research report on Friday, July 11th. Finally, Keefe, Bruyette & Woods increased their target price on shares of Moelis & Company from $69.00 to $89.00 and gave the company an "outperform" rating in a research report on Monday, July 14th. One analyst has rated the stock with a sell rating, five have issued a hold rating and two have issued a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $66.00.

Institutional Trading of Moelis & Company

A number of hedge funds have recently bought and sold shares of MC. Integrated Wealth Concepts LLC lifted its position in shares of Moelis & Company by 9.9% in the first quarter. Integrated Wealth Concepts LLC now owns 4,799 shares of the asset manager's stock worth $280,000 after purchasing an additional 432 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Moelis & Company by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 42,080 shares of the asset manager's stock worth $2,456,000 after purchasing an additional 1,839 shares in the last quarter. United Services Automobile Association purchased a new stake in shares of Moelis & Company in the first quarter worth approximately $264,000. Finally, Empowered Funds LLC lifted 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 purchasing an additional 11,692 shares in the last quarter. 91.53% of the stock is owned by hedge funds and other institutional investors.

Moelis & Company Company Profile

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.

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