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

Key Points

• Quarterly dividend of $0.07 announced with an ex-dividend/record date of June 1 and payable on June 15; the payment implies an annualized yield of ~1.4% and a payout ratio of 17.8%, indicating the dividend is well covered by earnings.
• The firm reported $0.17 EPS for the quarter, matching consensus, and revenue of $219.16M (beating estimates), but posted a modest net margin of 4.69% and a negative return on equity of 25.81%.
• Shares traded down to $20.61 on heavy volume (3.28M vs. avg 973k); market cap is ~$1.89B with a P/E of 44.8 and a 52-week range of $15.74–$25.92, while analysts hold a consensus "Hold" rating and $22.88 target.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) announced a quarterly dividend on Friday, May 1st. Stockholders of record on Monday, June 1st will be given a dividend of 0.07 per share on Monday, June 15th. This represents a c) dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date is Monday, June 1st.

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

Perella Weinberg Partners Price Performance

Shares of NASDAQ PWP traded down $2.13 during mid-day trading on Friday, hitting $20.61. 3,284,235 shares of the company's stock traded hands, compared to its average volume of 973,045. The company's 50-day moving average is $18.96 and its two-hundred day moving average is $19.29. The company has a market capitalization of $1.89 billion, a P/E ratio of 44.81 and a beta of 1.66. Perella Weinberg Partners has a 1 year low of $15.74 and a 1 year high of $25.92.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last announced its quarterly earnings results on Friday, February 6th. The company reported $0.17 EPS for the quarter, meeting analysts' consensus estimates of $0.17. Perella Weinberg Partners had a net margin of 4.69% and a negative return on equity of 25.81%. The firm had revenue of $219.16 million during the quarter, compared to the consensus estimate of $192.84 million.

Wall Street Analysts Forecast Growth

PWP has been the subject of a number of recent research reports. Citizens Jmp dropped their target price on Perella Weinberg Partners from $32.00 to $30.00 and set a "market outperform" rating for the company in a report on Friday, April 10th. Wall Street Zen upgraded Perella Weinberg Partners from a "sell" rating to a "hold" rating in a research report on Saturday, February 7th. Weiss Ratings reiterated a "hold (c)" rating on shares of Perella Weinberg Partners in a research report on Tuesday, April 21st. The Goldman Sachs Group increased their target price on shares of Perella Weinberg Partners from $17.50 to $19.50 and gave the company a "sell" rating in a research note on Tuesday, April 14th. Finally, Keefe, Bruyette & Woods upgraded shares of Perella Weinberg Partners from a "market perform" rating to an "outperform" rating and lowered their target price for the stock from $23.00 to $21.00 in a report on Wednesday, April 8th. Two equities research analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus target price of $22.88.

Perella Weinberg Partners Company Profile

Perella Weinberg Partners L.P. is a global, partner-led advisory firm specializing in strategic and financial counsel. Founded in 2006 by Joseph R. Perella and Peter Weinberg—both veterans of leading Wall Street institutions—the firm delivers independent advice on mergers and acquisitions, financing, restructuring and capital markets. As an independent entity, it emphasizes senior banker involvement throughout every transaction, ensuring clients benefit from depth of experience and continuity of service.

The firm's core offerings encompass M&A advisory, debt and equity financing, corporate restructuring and capital markets solutions.

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