Moelis & Co. (NYSE:MC) was upgraded by Zacks Investment Research from a “hold” rating to a “buy” rating in a research report issued to clients and investors on Tuesday. The firm presently has a $29.00 price objective on the stock. Zacks Investment Research’s price objective suggests a potential upside of 9.81% from the stock’s current price.
According to Zacks, “Moelis & Company is a global independent investment bank. The Company provides innovative strategic advice and solutions to a diverse client base, including corporations, governments and financial sponsors. It advises clients in the areas of mergers and acquisitions, recapitalizations and restructurings, and other corporate finance matters. Moelis & Company is based in New York. “
Several other research firms have also recently commented on MC. Morgan Stanley reiterated a “buy” rating on shares of Moelis & Co. in a research note on Tuesday, June 7th. Credit Suisse Group AG reiterated a “hold” rating on shares of Moelis & Co. in a research note on Tuesday, June 28th. Five analysts have rated the stock with a hold rating and five have issued a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average price target of $31.00.
Moelis & Co. (NYSE:MC) opened at 26.41 on Tuesday. The firm has a 50 day moving average price of $26.37 and a 200 day moving average price of $26.29. Moelis & Co. has a 52 week low of $21.91 and a 52 week high of $31.84. The stock has a market capitalization of $544.02 million, a P/E ratio of 15.73 and a beta of 1.73.
Moelis & Co. (NYSE:MC) last released its quarterly earnings results on Wednesday, August 3rd. The company reported $0.35 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $0.29 by $0.06. Moelis & Co. had a return on equity of 35.37% and a net margin of 6.01%. The business had revenue of $131.70 million for the quarter, compared to analysts’ expectations of $131.44 million. During the same quarter in the previous year, the firm posted $0.37 earnings per share. The company’s revenue was up 4.7% compared to the same quarter last year. Equities research analysts predict that Moelis & Co. will post $1.66 earnings per share for the current year.
The business also recently announced a quarterly dividend, which was paid on Tuesday, September 6th. Stockholders of record on Monday, August 22nd were issued a dividend of $0.30 per share. This represents a $1.20 annualized dividend and a dividend yield of 4.54%. The ex-dividend date of this dividend was Thursday, August 18th. Moelis & Co.’s dividend payout ratio (DPR) is presently 81.53%.
Institutional investors have recently bought and sold shares of the stock. Legal & General Group Plc raised its position in Moelis & Co. by 86.3% in the first quarter. Legal & General Group Plc now owns 3,519 shares of the company’s stock valued at $100,000 after buying an additional 1,630 shares during the period. BlackRock Advisors LLC raised its position in Moelis & Co. by 10.8% in the second quarter. BlackRock Advisors LLC now owns 9,460 shares of the company’s stock valued at $213,000 after buying an additional 920 shares during the period. Emerald Acquisition Ltd. bought a new position in Moelis & Co. during the second quarter valued at approximately $222,000. American International Group Inc. raised its position in Moelis & Co. by 3.8% in the second quarter. American International Group Inc. now owns 10,699 shares of the company’s stock valued at $241,000 after buying an additional 396 shares during the period. Finally, Clinton Group Inc. bought a new position in Moelis & Co. during the second quarter valued at approximately $246,000. 84.45% of the stock is owned by institutional investors.
Moelis & Co. Company Profile
Moelis & Company is an investment banking advisory firm. The Company provides strategic and financial advice to a client base, including corporations, governments and financial sponsors. The Company offers financial advisory services across various industry sectors. The Company advices its clients on decisions, including mergers and acquisitions (M&A), recapitalizations and restructurings, and other corporate finance matters.
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