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

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) announced a quarterly dividend on Monday, May 5th, Wall Street Journal reports. Investors of record on Wednesday, May 14th will be paid a dividend of 0.07 per share on Friday, May 30th. This represents a $0.28 dividend on an annualized basis and a yield of 1.65%. The ex-dividend date is Wednesday, May 14th.

Perella Weinberg Partners has increased its dividend by an average of 26.0% annually over the last three years. Perella Weinberg Partners has a payout ratio of 17.7% meaning its dividend is sufficiently covered by earnings.

Perella Weinberg Partners Price Performance

Shares of PWP traded down $0.67 during midday trading on Monday, reaching $16.92. 1,600,043 shares of the stock were exchanged, compared to its average volume of 607,846. The business's 50-day moving average price is $18.31 and its 200 day moving average price is $22.07. The company has a market capitalization of $1.47 billion, a price-to-earnings ratio of -10.71 and a beta of 1.69. Perella Weinberg Partners has a twelve month low of $13.82 and a twelve month high of $27.03.

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report) last issued its quarterly earnings data on Friday, May 2nd. The company reported $0.28 earnings per share for the quarter, beating analysts' consensus estimates of $0.21 by $0.07. Perella Weinberg Partners had a negative return on equity of 72.27% and a negative net margin of 7.37%. The company had revenue of $211.83 million during the quarter, compared to analysts' expectations of $200.29 million. During the same quarter in the previous year, the business earned ($0.10) earnings per share.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on PWP shares. Keefe, Bruyette & Woods upped their target price on shares of Perella Weinberg Partners from $27.00 to $29.00 and gave the company an "outperform" rating in a report on Monday, February 10th. JMP Securities reduced their price objective 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. Finally, The Goldman Sachs Group lowered their target price 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.

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.

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