Moelis & Company (NYSE:MC) Releases Earnings Results, Beats Estimates By $0.11 EPS

Moelis & Company (NYSE:MC) released its quarterly earnings results on Wednesday. The asset manager reported $0.22 EPS for the quarter, beating the consensus estimate of $0.11 by $0.11, Briefing.com reports. The firm had revenue of $217.49 million during the quarter, compared to the consensus estimate of $219.30 million. Moelis & Company had a negative net margin of 2.89% and a negative return on equity of 3.82%. Moelis & Company’s revenue for the quarter was up 17.4% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.05 EPS.

Moelis & Company Price Performance

MC traded down $4.57 during trading on Thursday, reaching $49.42. 981,821 shares of the stock were exchanged, compared to its average volume of 633,530. The company has a market capitalization of $3.52 billion, a price-to-earnings ratio of -138.08 and a beta of 1.35. Moelis & Company has a 1 year low of $33.87 and a 1 year high of $58.67. The business’s 50 day moving average price is $54.31 and its two-hundred day moving average price is $51.51.

Moelis & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, March 28th. Investors of record on Tuesday, February 20th were issued a dividend of $0.60 per share. The ex-dividend date of this dividend was Friday, February 16th. This represents a $2.40 annualized dividend and a yield of 4.86%. Moelis & Company’s dividend payout ratio is presently -666.67%.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently weighed in on the stock. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $54.00 target price (down previously from $58.00) on shares of Moelis & Company in a research note on Thursday. JPMorgan Chase & Co. increased their price target on Moelis & Company from $46.00 to $57.00 and gave the stock a “neutral” rating in a report on Thursday, February 8th. JMP Securities reissued a “market perform” rating on shares of Moelis & Company in a research note on Tuesday, April 9th. UBS Group boosted their price target on shares of Moelis & Company from $45.00 to $47.00 and gave the stock a “sell” rating in a research note on Thursday. Finally, The Goldman Sachs Group raised Moelis & Company from a “sell” rating to a “neutral” rating and lifted their price objective for the company from $53.00 to $58.00 in a report on Wednesday, March 13th. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $50.80.

Insider Activity

In other Moelis & Company news, insider Christopher Callesano sold 1,040 shares of the firm’s stock in a transaction dated Thursday, February 8th. The shares were sold at an average price of $53.59, for a total transaction of $55,733.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other Moelis & Company news, insider Christopher Callesano sold 1,040 shares of the firm’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $53.59, for a total transaction of $55,733.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Kenneth Moelis sold 128,277 shares of the company’s stock in a transaction on Wednesday, February 21st. The shares were sold at an average price of $52.60, for a total value of $6,747,370.20. Following the completion of the sale, the chief executive officer now owns 161,810 shares in the company, valued at $8,511,206. The disclosure for this sale can be found here. Insiders sold a total of 375,185 shares of company stock worth $20,130,225 over the last 90 days. 6.96% of the stock is currently owned by corporate insiders.

Moelis & Company Company Profile

Moelis & Company operates as an investment banking advisory firm. It offers advisory services in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets transactions, and other corporate finance matters, as well as strategic, capital structure, and private funds advisory.