Moelis & Company (NYSE:MC) Given Average Rating of “Hold” by Brokerages

Shares of Moelis & Company (NYSE:MC) have earned a consensus rating of “Hold” from the eleven analysts that are currently covering the firm, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, eight have given a hold rating and two have given a buy rating to the company. The average twelve-month price objective among brokers that have covered the stock in the last year is $71.8889.

A number of equities analysts have issued reports on the company. UBS Group cut their target price on Moelis & Company from $59.00 to $58.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 8th. The Goldman Sachs Group cut their target price on Moelis & Company from $70.00 to $62.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 1st. Weiss Ratings lowered Moelis & Company from a “hold (c+)” rating to a “hold (c)” rating in a research report on Tuesday, May 26th. Keefe, Bruyette & Woods cut their target price on Moelis & Company from $80.00 to $64.00 and set a “market perform” rating on the stock in a research report on Wednesday, April 8th. Finally, Morgan Stanley cut their target price on Moelis & Company from $90.00 to $83.00 and set an “overweight” rating on the stock in a research report on Thursday, April 9th.

Moelis & Company Stock Down 3.0%

NYSE MC opened at $67.19 on Thursday. The stock has a market cap of $5.28 billion, a PE ratio of 24.17, a P/E/G ratio of 0.83 and a beta of 1.85. Moelis & Company has a fifty-two week low of $51.06 and a fifty-two week high of $78.22. The business has a 50 day moving average price of $63.66 and a two-hundred day moving average price of $65.54.

Moelis & Company (NYSE:MC) last released its quarterly earnings results on Wednesday, April 29th. The asset manager reported $0.50 earnings per share for the quarter, missing analysts’ consensus estimates of $0.59 by ($0.09). Moelis & Company had a return on equity of 38.94% and a net margin of 14.46%.The company had revenue of $319.78 million during the quarter, compared to analysts’ expectations of $321.51 million. During the same quarter in the prior year, the company earned $0.64 EPS. The firm’s revenue was up 4.3% compared to the same quarter last year. Sell-side analysts anticipate that Moelis & Company will post 3.17 EPS for the current fiscal year.

Moelis & Company Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, June 18th. Shareholders of record on Monday, May 11th will be given a $0.65 dividend. This represents a $2.60 dividend on an annualized basis and a dividend yield of 3.9%. The ex-dividend date of this dividend is Monday, May 11th. Moelis & Company’s dividend payout ratio is presently 93.53%.

Hedge Funds Weigh In On Moelis & Company

A number of institutional investors have recently made changes to their positions in MC. Balyasny Asset Management L.P. acquired a new position in shares of Moelis & Company in the 4th quarter valued at approximately $60,857,000. Norges Bank acquired a new stake in shares of Moelis & Company during the 4th quarter valued at approximately $42,919,000. The Manufacturers Life Insurance Company raised its position in shares of Moelis & Company by 1,161.8% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 661,594 shares of the asset manager’s stock valued at $41,231,000 after acquiring an additional 609,162 shares in the last quarter. Madison Asset Management LLC raised its position in shares of Moelis & Company by 45.6% during the 1st quarter. Madison Asset Management LLC now owns 1,773,735 shares of the asset manager’s stock valued at $101,103,000 after acquiring an additional 555,557 shares in the last quarter. Finally, Wasatch Advisors LP raised its position in shares of Moelis & Company by 16.1% during the 3rd quarter. Wasatch Advisors LP now owns 3,304,180 shares of the asset manager’s stock valued at $235,654,000 after acquiring an additional 458,575 shares in the last quarter. 91.53% of the stock is owned by institutional investors and hedge funds.

Moelis & Company Company Profile

Moelis & Co operates as a holding company. It engages in the provision of financial advisory, capital raising and asset management services to a client base including corporations, governments, sovereign wealth funds and financial sponsors. The firm focuses on clients including large public multinational corporations, middle market private companies, financial sponsors, entrepreneurs and governments. The company was founded by Kenneth David Moelis, Navid Mahmoodzadegan, Jeffrey Raich and Elizabeth Ann Crain in July 2007 and is headquartered in New York, NY.