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

Key Points

• Perella Weinberg Partners reported $0.09 earnings per share (EPS), missing analysts' consensus estimates of $0.16 by $0.07.
• The company's revenue for the quarter was $155.27 million, below the consensus estimate of $188.06 million, with a negative net margin of 1.17%.
• Perella Weinberg Partners declared a quarterly dividend of $0.07, representing an annualized payout of $0.28 and a yield of 1.3%, despite a negative dividend payout ratio of -65.12%.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) posted its quarterly earnings data on Friday. The company reported $0.09 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $0.16 by ($0.07), Zacks reports. The firm had revenue of $155.27 million for the quarter, compared to the consensus estimate of $188.06 million. Perella Weinberg Partners had a negative return on equity of 26.14% and a net margin of 6.57%.

Perella Weinberg Partners Trading Up 0.9%

Shares of PWP traded up $0.20 during mid-day trading on Wednesday, reaching $22.39. The company's stock had a trading volume of 721,860 shares, compared to its average volume of 946,093. Perella Weinberg Partners has a 1-year low of $14.12 and a 1-year high of $27.03. The stock has a market cap of $1.98 billion, a P/E ratio of 27.26 and a beta of 1.66. The business has a 50-day simple moving average of $19.41 and a two-hundred day simple moving average of $19.87.

Perella Weinberg Partners Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 10th. Stockholders of record on Friday, August 29th will be given a $0.07 dividend. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Friday, August 29th. Perella Weinberg Partners's dividend payout ratio (DPR) is presently 34.15%.

Institutional Trading of Perella Weinberg Partners

A number of hedge funds have recently made changes to their positions in the business. Jane Street Group LLC acquired a new stake in shares of Perella Weinberg Partners in the first quarter valued at approximately $2,577,000. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in Perella Weinberg Partners by 4.6% during the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 30,745 shares of the company's stock worth $566,000 after purchasing an additional 1,342 shares during the last quarter. Finally, AQR Capital Management LLC lifted its holdings in Perella Weinberg Partners by 79.1% during the 1st quarter. AQR Capital Management LLC now owns 23,435 shares of the company's stock worth $431,000 after purchasing an additional 10,350 shares during the last quarter. 41.07% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have weighed in on PWP. Keefe, Bruyette & Woods raised their price target on Perella Weinberg Partners from $23.00 to $24.00 and gave the company a "market perform" rating in a research note on Monday. JMP Securities decreased their price target on Perella Weinberg Partners from $33.00 to $29.00 and set a "market outperform" rating for the company in a research note on Tuesday, April 8th. Wall Street Zen downgraded Perella Weinberg Partners from a "buy" rating to a "hold" rating in a research note on Saturday, July 12th. Finally, The Goldman Sachs Group raised their price target on Perella Weinberg Partners from $16.00 to $18.00 and gave the company a "sell" rating in a research note on Thursday, May 15th.

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.