Perella Weinberg Partners (NASDAQ:PWP) Announces $0.07 Quarterly Dividend

Key Points

• Perella Weinberg Partners declared a quarterly dividend of $0.07 per share, with a yield of 1.4%, to be paid on September 10th to shareholders of record on August 29th.
• The company reported a loss of $0.09 earnings per share for the last quarter, missing estimates, along with revenue of $155.27 million, which fell short of analyst expectations.
• Recent analyst ratings show a downward trend, with JMP Securities lowering their price target from $33.00 to $29.00 and other firms adjusting their ratings to "hold" from "buy" or "moderate buy."

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) announced a quarterly dividend on Friday, August 1st, RTT News reports. Investors of record on Friday, August 29th will be given a dividend of 0.07 per share on Wednesday, September 10th. This represents a c) annualized dividend and a yield of 1.3%.

Perella Weinberg Partners has a payout ratio of 17.8% indicating that its dividend is sufficiently covered by earnings.

Perella Weinberg Partners Price Performance

NASDAQ:PWP traded up $1.03 on Friday, hitting $20.97. 2,483,233 shares of the company's stock were exchanged, compared to its average volume of 1,013,441. The firm has a 50-day moving average price of $19.24 and a 200-day moving average price of $19.91. The company has a market cap of $1.85 billion, a P/E ratio of 25.57 and a beta of 1.66. Perella Weinberg Partners has a 52 week low of $14.12 and a 52 week high of $27.03.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last issued its earnings results on Friday, August 1st. The company reported $0.09 earnings per share for the quarter, missing analysts' consensus estimates of $0.16 by ($0.07). Perella Weinberg Partners had a negative net margin of 1.17% and a negative return on equity of 36.47%. The company had revenue of $155.27 million during the quarter, compared to analyst estimates of $188.06 million.

Perella Weinberg Partners Company Profile

Perella Weinberg Partners, an independent investment banking company, provides strategic and financial advice services in the United States and internationally. The company offers advisory services related to strategic and financial decisions, mergers and acquisition execution, shareholder and defense advisory, and financing and capital solutions advice with resources focused on restructuring, liability management, and capital markets advisory, as well as underwriting and research services primarily for the energy and related industries.