Perella Weinberg Partners (NASDAQ:PWP) Trading Down 5.4% After Earnings Miss

Key Points

• Shares fell 5.4% intraday after Perella Weinberg reported Q EPS of $0.05 vs. analysts' $0.16 and revenue of $148.92M vs. $158.82M, with trading volume about 92% below its average session volume.
• The firm announced a quarterly dividend of $0.07 (annualized $0.28) payable June 15 with an ex-dividend date of June 1 and a yield of ~1.4%, but the dividend payout ratio is a high 116.67%.
• Wall Street is mixed: the consensus rating is Hold with a $23.50 price target, while recent notes range from outperform/buy to sell (two Buys, one Hold, one Sell).

Perella Weinberg Partners (NASDAQ:PWP - Get Free Report)'s stock price traded down 5.4% during mid-day trading on Monday following a dissappointing earnings announcement. The stock traded as low as $19.48 and last traded at $19.4950. 75,716 shares were traded during trading, a decline of 92% from the average session volume of 961,694 shares. The stock had previously closed at $20.61.

The company reported $0.05 earnings per share for the quarter, missing analysts' consensus estimates of $0.16 by ($0.11). The firm had revenue of $148.92 million for the quarter, compared to analysts' expectations of $158.82 million. Perella Weinberg Partners had a net margin of 2.82% and a negative return on equity of 18.01%.

Perella Weinberg Partners Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 15th. Investors of record on Monday, June 1st will be issued a dividend of $0.07 per share. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Monday, June 1st. Perella Weinberg Partners's dividend payout ratio (DPR) is currently 116.67%.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the company. Keefe, Bruyette & Woods raised their price objective on Perella Weinberg Partners from $21.00 to $23.50 and gave the company an "outperform" rating in a report on Monday. Wall Street Zen raised Perella Weinberg Partners from a "sell" rating to a "hold" rating in a report on Saturday, February 7th. Wolfe Research set a $21.00 price target on Perella Weinberg Partners in a research note on Wednesday, January 7th. Weiss Ratings reaffirmed a "hold (c)" rating on shares of Perella Weinberg Partners in a research note on Tuesday, April 21st. Finally, The Goldman Sachs Group lifted their price target on Perella Weinberg Partners from $17.50 to $19.50 and gave the stock a "sell" rating in a research note on Tuesday, April 14th. Two investment analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, Perella Weinberg Partners currently has a consensus rating of "Hold" and a consensus price target of $23.50.

Institutional Investors Weigh In On Perella Weinberg Partners

Large investors have recently made changes to their positions in the business. Los Angeles Capital Management LLC bought a new stake in shares of Perella Weinberg Partners during the fourth quarter valued at approximately $45,000. State of Alaska Department of Revenue bought a new stake in shares of Perella Weinberg Partners during the third quarter valued at approximately $53,000. Torren Management LLC bought a new stake in shares of Perella Weinberg Partners during the fourth quarter valued at approximately $62,000. Kemnay Advisory Services Inc. bought a new stake in shares of Perella Weinberg Partners during the fourth quarter valued at approximately $86,000. Finally, Tower Research Capital LLC TRC boosted its position in shares of Perella Weinberg Partners by 460.5% during the second quarter. Tower Research Capital LLC TRC now owns 5,151 shares of the company's stock valued at $100,000 after purchasing an additional 4,232 shares in the last quarter. 41.07% of the stock is currently owned by institutional investors.

Perella Weinberg Partners Stock Down 6.3%

The company has a fifty day simple moving average of $18.96 and a 200 day simple moving average of $19.28. The firm has a market capitalization of $1.77 billion, a P/E ratio of 81.03 and a beta of 1.74.

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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