Moelis & Company (NYSE:MC) Announces Earnings Results, Beats Expectations By $0.36 EPS

Moelis & Company (NYSE:MC) released its earnings results on Tuesday. The asset manager reported $1.19 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.36, MarketWatch Earnings reports. Moelis & Company had a net margin of 20.91% and a return on equity of 56.19%. The firm had revenue of $360.91 million during the quarter, compared to the consensus estimate of $274.36 million. During the same period in the previous year, the firm earned ($0.11) earnings per share. Moelis & Company’s revenue was up 125.7% compared to the same quarter last year.

Shares of NYSE MC traded up $2.61 during trading on Thursday, reaching $59.30. 13,078 shares of the stock were exchanged, compared to its average volume of 454,098. The business’s 50-day moving average price is $54.37. Moelis & Company has a twelve month low of $28.77 and a twelve month high of $59.63. The company has a market cap of $3.79 billion, a P/E ratio of 17.69 and a beta of 1.21.

The company also recently announced a quarterly dividend, which was paid on Tuesday, May 18th. Stockholders of record on Monday, May 10th were given a dividend of $0.55 per share. The ex-dividend date of this dividend was Friday, May 7th. This represents a $2.20 dividend on an annualized basis and a dividend yield of 3.71%. Moelis & Company’s payout ratio is currently 75.60%.

In other news, CEO Kenneth Moelis sold 18,184 shares of the business’s stock in a transaction on Friday, April 23rd. The shares were sold at an average price of $57.11, for a total transaction of $1,038,488.24. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Over the last three months, insiders have sold 30,051 shares of company stock worth $1,715,368. Corporate insiders own 17.99% of the company’s stock.

MC has been the subject of a number of recent analyst reports. Morgan Stanley boosted their target price on shares of Moelis & Company from $60.00 to $63.00 and gave the company an “equal weight” rating in a report on Thursday. Zacks Investment Research cut shares of Moelis & Company from a “buy” rating to a “hold” rating and set a $58.00 price target on the stock. in a research report on Wednesday, June 9th. JMP Securities reaffirmed a “market perform” rating on shares of Moelis & Company in a research report on Thursday, April 15th. Finally, Wolfe Research raised shares of Moelis & Company from an “underperform” rating to a “peer perform” rating and set a $63.00 price target on the stock in a research report on Thursday, June 17th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and one has assigned a buy rating to the company’s stock. Moelis & Company has an average rating of “Hold” and a consensus target price of $51.56.

Moelis & Company Company Profile

Moelis & Company operates as an investment banking advisory firm in the United States, Europe, and internationally. It offers advisory services in the areas of mergers and acquisitions, recapitalizations and restructurings, capital markets transactions, and other corporate finance matters. The company offers its services to public multinational corporations, middle market private companies, financial sponsors, entrepreneurs, and governments.

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Earnings History for Moelis & Company (NYSE:MC)

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