Moelis & Company (NYSE:MC) Releases Quarterly 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, topping analysts’ consensus estimates of $0.11 by $0.11, Briefing.com reports. Moelis & Company had a negative return on equity of 3.82% and a negative net margin of 2.89%. The business had revenue of $217.49 million for the quarter, compared to analyst estimates of $219.30 million. During the same period in the prior year, the company earned $0.05 EPS. Moelis & Company’s revenue for the quarter was up 17.4% on a year-over-year basis.

Moelis & Company Trading Down 8.5 %

Shares of NYSE:MC traded down $4.57 during mid-day trading on Thursday, reaching $49.42. The stock had a trading volume of 981,821 shares, compared to its average volume of 633,530. Moelis & Company has a twelve month low of $33.87 and a twelve month high of $58.67. The firm has a market cap of $3.52 billion, a PE ratio of -138.08 and a beta of 1.35. The firm has a 50 day simple moving average of $54.31 and a two-hundred day simple moving average of $51.51.

Moelis & Company Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, March 28th. Stockholders of record on Tuesday, February 20th were paid a $0.60 dividend. The ex-dividend date of this dividend was Friday, February 16th. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.86%. Moelis & Company’s dividend payout ratio (DPR) is presently -666.67%.

Insider Activity at Moelis & Company

In other Moelis & Company news, CEO Kenneth Moelis sold 128,277 shares of the business’s stock in a transaction that occurred on Wednesday, February 21st. The stock was sold at an average price of $52.60, for a total value of $6,747,370.20. Following the sale, the chief executive officer now owns 161,810 shares in the company, valued at approximately $8,511,206. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, CFO Joseph Simon sold 8,573 shares of the company’s stock in a transaction dated Thursday, February 29th. The stock was sold at an average price of $54.13, for a total transaction of $464,056.49. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO Kenneth Moelis sold 128,277 shares of the stock in a transaction that occurred 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 transaction, the chief executive officer now directly owns 161,810 shares of the company’s stock, 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 in the last quarter. Corporate insiders own 6.96% of the company’s stock.

Wall Street Analyst Weigh In

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

About Moelis & Company

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.