Moelis & Co. (NYSE:MC) was downgraded by research analysts at Sandler O’Neill from a “buy” rating to a “hold” rating in a report released on Thursday. They currently have a $27.00 price objective on the stock, down from their prior price objective of $30.00. Sandler O’Neill’s price target would indicate a potential upside of 9.76% from the stock’s current price.
MC has been the topic of several other reports. Zacks Investment Research raised Moelis & Co. from a “hold” rating to a “buy” rating and set a $29.00 price target on the stock in a research report on Tuesday, October 4th. Credit Suisse Group AG reaffirmed a “hold” rating on shares of Moelis & Co. in a research report on Tuesday, June 28th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and two have issued a buy rating to the company’s stock. Moelis & Co. presently has an average rating of “Hold” and an average price target of $30.22.
Moelis & Co. (NYSE:MC) opened at 24.60 on Thursday. Moelis & Co. has a 12-month low of $21.91 and a 12-month high of $31.84. The stock’s 50 day moving average price is $26.11 and its 200 day moving average price is $26.20. The company has a market capitalization of $506.74 million, a price-to-earnings ratio of 14.65 and a beta of 1.73.
Moelis & Co. (NYSE:MC) last issued its quarterly earnings results on Wednesday, August 3rd. The company reported $0.35 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.29 by $0.06. The company had revenue of $131.70 million for the quarter, compared to the consensus estimate of $131.44 million. Moelis & Co. had a return on equity of 35.37% and a net margin of 6.01%. The firm’s revenue was up 4.7% compared to the same quarter last year. During the same period last year, the business posted $0.37 earnings per share. On average, equities research analysts anticipate that Moelis & Co. will post $1.62 earnings per share for the current fiscal year.
Several large investors have recently added to or reduced their stakes in the stock. Schonfeld Strategic Advisors LLC acquired a new position in shares of Moelis & Co. during the first quarter worth approximately $577,000. UBS Group AG boosted its position in shares of Moelis & Co. by 29.7% in the first quarter. UBS Group AG now owns 68,649 shares of the company’s stock worth $1,938,000 after buying an additional 15,709 shares in the last quarter. California State Teachers Retirement System boosted its position in shares of Moelis & Co. by 4.5% in the second quarter. California State Teachers Retirement System now owns 38,972 shares of the company’s stock worth $877,000 after buying an additional 1,669 shares in the last quarter. Bank of New York Mellon Corp boosted its position in shares of Moelis & Co. by 3.5% in the second quarter. Bank of New York Mellon Corp now owns 104,539 shares of the company’s stock worth $2,353,000 after buying an additional 3,575 shares in the last quarter. Finally, JPMorgan Chase & Co. boosted its position in shares of Moelis & Co. by 9.3% in the second quarter. JPMorgan Chase & Co. now owns 1,175,914 shares of the company’s stock worth $26,458,000 after buying an additional 99,629 shares in the last quarter. Institutional investors and hedge funds own 84.45% of the company’s stock.
About Moelis & Co.
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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