Perella Weinberg Partners (NASDAQ:PWP) Posts Quarterly Earnings Results, Beats Expectations By $0.07 EPS

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) announced its quarterly earnings data on Friday. The company reported $0.28 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.21 by $0.07, RTT News reports. Perella Weinberg Partners had a negative net margin of 7.37% and a negative return on equity of 72.27%. The business had revenue of $211.83 million for the quarter, compared to analysts' expectations of $200.29 million. During the same period last year, the firm posted ($0.10) earnings per share.

Perella Weinberg Partners Price Performance

Perella Weinberg Partners stock opened at $17.59 on Friday. The business has a 50 day moving average of $18.31 and a 200-day moving average of $22.07. Perella Weinberg Partners has a 1 year low of $11.68 and a 1 year high of $27.03. The company has a market capitalization of $1.53 billion, a P/E ratio of -11.13 and a beta of 1.68.

Perella Weinberg Partners Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Monday, March 10th. Stockholders of record on Tuesday, February 18th were issued a dividend of $0.07 per share. This represents a $0.28 annualized dividend and a dividend yield of 1.59%. The ex-dividend date of this dividend was Tuesday, February 18th. Perella Weinberg Partners's dividend payout ratio (DPR) is currently -17.72%.

Analysts Set New Price Targets

Several analysts recently weighed in on PWP shares. The Goldman Sachs Group reduced their price objective on Perella Weinberg Partners from $20.00 to $18.00 and set a "sell" rating on the stock in a research note on Wednesday, April 2nd. JMP Securities reduced their price target on shares of Perella Weinberg Partners from $33.00 to $29.00 and set a "market outperform" rating on the stock in a research note on Tuesday, April 8th. Finally, Keefe, Bruyette & Woods upped their price objective on shares of Perella Weinberg Partners from $27.00 to $29.00 and gave the stock an "outperform" rating in a research report on Monday, February 10th.

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.

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