Morgan Stanley Boosts Moelis & Company (NYSE:MC) Price Target to $68.00

Moelis & Company (NYSE:MC) had its price objective hoisted by Morgan Stanley from $63.00 to $68.00 in a research report report published on Monday, Price Targets.com reports. They currently have an equal weight rating on the asset manager’s stock.

MC has been the topic of a number of other reports. Wolfe Research raised Moelis & Company from an underperform rating to a peer perform rating and set a $63.00 price objective on the stock in a report on Thursday, June 17th. Zacks Investment Research downgraded Moelis & Company from a buy rating to a hold rating and set a $64.00 target price for the company. in a research report on Tuesday, September 21st. Six investment analysts have rated the stock with a hold rating and one has given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of Hold and a consensus price target of $61.50.

Shares of NYSE MC opened at $68.07 on Monday. The stock’s fifty day moving average price is $62.77 and its two-hundred day moving average price is $57.72. Moelis & Company has a one year low of $35.86 and a one year high of $69.64. The firm has a market cap of $4.48 billion, a price-to-earnings ratio of 14.54 and a beta of 1.21.

Moelis & Company (NYSE:MC) last issued its quarterly earnings data on Tuesday, July 20th. The asset manager reported $1.19 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.36. Moelis & Company had a return on equity of 78.25% and a net margin of 24.34%. The firm had revenue of $360.91 million for the quarter, compared to analyst estimates of $274.36 million. During the same period in the prior year, the firm posted ($0.11) EPS. The company’s revenue for the quarter was up 125.7% on a year-over-year basis. As a group, research analysts expect that Moelis & Company will post 3.84 EPS for the current year.

The firm also recently disclosed a quarterly dividend, which was paid on Friday, September 17th. Investors of record on Monday, August 2nd were given a dividend of $0.60 per share. This is an increase from Moelis & Company’s previous quarterly dividend of $0.55. This represents a $2.40 annualized dividend and a dividend yield of 3.53%. The ex-dividend date of this dividend was Friday, July 30th. Moelis & Company’s dividend payout ratio is currently 82.47%.

Several hedge funds have recently made changes to their positions in the stock. Citigroup Inc. lifted its position in shares of Moelis & Company by 0.8% during the 2nd quarter. Citigroup Inc. now owns 23,645 shares of the asset manager’s stock worth $1,345,000 after buying an additional 199 shares during the last quarter. Ameritas Investment Partners Inc. increased its holdings in Moelis & Company by 8.4% in the 2nd quarter. Ameritas Investment Partners Inc. now owns 4,797 shares of the asset manager’s stock worth $273,000 after purchasing an additional 371 shares in the last quarter. IndexIQ Advisors LLC increased its holdings in Moelis & Company by 5.4% in the 2nd quarter. IndexIQ Advisors LLC now owns 7,646 shares of the asset manager’s stock worth $435,000 after purchasing an additional 390 shares in the last quarter. Legal & General Group Plc increased its holdings in Moelis & Company by 1.1% in the 2nd quarter. Legal & General Group Plc now owns 41,140 shares of the asset manager’s stock worth $2,340,000 after purchasing an additional 434 shares in the last quarter. Finally, Neuberger Berman Group LLC increased its holdings in Moelis & Company by 0.7% in the 2nd quarter. Neuberger Berman Group LLC now owns 68,859 shares of the asset manager’s stock worth $3,917,000 after purchasing an additional 450 shares in the last quarter. Institutional investors and hedge funds own 84.81% of the company’s stock.

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.

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Analyst Recommendations for Moelis & Company (NYSE:MC)

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