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

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 paid a dividend of 0.07 per share on Wednesday, September 10th. This represents a c) dividend on an annualized basis and a yield of 1.3%. The ex-dividend date of this dividend is Friday, August 29th.

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

Perella Weinberg Partners Stock Performance

Shares of NASDAQ PWP traded up $0.39 during trading hours on Tuesday, hitting $22.24. 1,170,873 shares of the stock were exchanged, compared to its average volume of 945,298. The company's fifty day simple moving average is $19.33 and its two-hundred day simple moving average is $19.85. The company has a market cap of $1.97 billion, a PE ratio of 27.12 and a beta of 1.66. Perella Weinberg Partners has a 1-year low of $14.12 and a 1-year high of $27.03.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last released its earnings results on Friday, August 1st. The company reported $0.09 earnings per share for the quarter, missing the consensus estimate of $0.16 by ($0.07). Perella Weinberg Partners had a negative return on equity of 25.25% and a net margin of 6.57%. The business had revenue of $155.27 million for the quarter, compared to the consensus estimate of $188.06 million.

About Perella Weinberg Partners

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.