Seaport Res Ptn Weighs in on Moelis & Company's FY2024 Earnings (NYSE:MC)

Moelis & Company (NYSE:MC - Free Report) - Stock analysts at Seaport Res Ptn dropped their FY2024 earnings per share (EPS) estimates for Moelis & Company in a note issued to investors on Wednesday, April 10th. Seaport Res Ptn analyst J. Mitchell now forecasts that the asset manager will post earnings of $1.10 per share for the year, down from their prior forecast of $1.20. The consensus estimate for Moelis & Company's current full-year earnings is $1.53 per share. Seaport Res Ptn also issued estimates for Moelis & Company's Q4 2024 earnings at $0.52 EPS, Q1 2025 earnings at $0.48 EPS, Q2 2025 earnings at $0.46 EPS, Q3 2025 earnings at $0.63 EPS, Q4 2025 earnings at $0.91 EPS and FY2025 earnings at $2.50 EPS.

Moelis & Company (NYSE:MC - Get Free Report) last issued its earnings results on Wednesday, February 7th. The asset manager reported ($0.06) EPS for the quarter, topping the consensus estimate of ($0.11) by $0.05. The firm had revenue of $214.90 million during the quarter, compared to the consensus estimate of $197.98 million. Moelis & Company had a negative return on equity of 3.82% and a negative net margin of 2.89%. The business's quarterly revenue was up 3.7% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.33 earnings per share.

Several other research analysts also recently commented on MC. UBS Group lowered their target price on Moelis & Company from $46.00 to $45.00 and set a "sell" rating for the company in a research note on Tuesday, March 26th. StockNews.com raised Moelis & Company from a "sell" rating to a "hold" rating in a research note on Thursday, February 8th. The Goldman Sachs Group upgraded Moelis & Company from a "sell" rating to a "neutral" rating and boosted their price target for the stock from $53.00 to $58.00 in a report on Wednesday, March 13th. Keefe, Bruyette & Woods restated a "market perform" rating and set a $56.00 price target on shares of Moelis & Company in a report on Monday, January 29th. Finally, JMP Securities restated a "market perform" rating on shares of Moelis & Company in a report on Tuesday. Two equities research analysts have rated the stock with a sell rating and five have given a hold rating to the company. Based on data from MarketBeat, Moelis & Company currently has a consensus rating of "Hold" and an average price target of $50.80.

Moelis & Company Trading Down 2.6 %

NYSE MC traded down $1.38 during trading on Friday, hitting $52.05. 768,173 shares of the company's stock were exchanged, compared to its average volume of 636,588. The company has a market cap of $3.70 billion, a PE ratio of -144.58 and a beta of 1.35. Moelis & Company has a fifty-two week low of $33.87 and a fifty-two week high of $58.67. The stock's 50 day moving average price is $54.70 and its two-hundred day moving average price is $51.03.

Institutional Investors Weigh In On Moelis & Company

Institutional investors have recently modified their holdings of the company. Peak Financial Advisors LLC boosted its stake in Moelis & Company by 2.9% during the first quarter. Peak Financial Advisors LLC now owns 8,715 shares of the asset manager's stock worth $495,000 after acquiring an additional 245 shares in the last quarter. Goldman Sachs Group Inc. boosted its stake in Moelis & Company by 11.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 3,374,385 shares of the asset manager's stock worth $189,404,000 after acquiring an additional 334,620 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Moelis & Company by 9.0% during the fourth quarter. Price T Rowe Associates Inc. MD now owns 33,338 shares of the asset manager's stock worth $1,872,000 after acquiring an additional 2,763 shares in the last quarter. Winslow Asset Management Inc. boosted its stake in Moelis & Company by 1.5% during the fourth quarter. Winslow Asset Management Inc. now owns 174,963 shares of the asset manager's stock worth $9,821,000 after acquiring an additional 2,593 shares in the last quarter. Finally, Townsquare Capital LLC lifted its stake in shares of Moelis & Company by 50.7% in the fourth quarter. Townsquare Capital LLC now owns 18,022 shares of the asset manager's stock valued at $1,012,000 after buying an additional 6,065 shares in the last quarter. 91.53% of the stock is owned by institutional investors.

Insider Buying and Selling at Moelis & Company

In other news, CFO Joseph Simon sold 8,573 shares of the business's stock in a transaction that occurred on Thursday, February 29th. The shares were sold at an average price of $54.13, for a total value of $464,056.49. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, CFO Joseph Simon sold 8,573 shares of the company's stock in a transaction on Thursday, February 29th. The shares were sold at an average price of $54.13, for a total value of $464,056.49. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, Vice Chairman Eric Cantor sold 17,857 shares of the company's stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $52.60, for a total transaction of $939,278.20. Following the completion of the sale, the insider now directly owns 195,863 shares in the company, valued at $10,302,393.80. The disclosure for this sale can be found here. In the last 90 days, insiders sold 375,185 shares of company stock valued at $20,130,225. 6.96% of the stock is currently owned by company insiders.

Moelis & Company Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, March 28th. Shareholders of record on Tuesday, February 20th were given a dividend of $0.60 per share. This represents a $2.40 dividend on an annualized basis and a yield of 4.61%. The ex-dividend date of this dividend was Friday, February 16th. Moelis & Company's dividend payout ratio is presently -666.67%.

Moelis & Company Company Profile

Moelis & Company operates as an investment banking advisory firm. It offers advisory services in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets transactions, and other corporate finance matters, as well as strategic, capital structure, and private funds advisory.