Moelis & Company (NYSE:MC) Issues 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 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.11 by $0.11, Briefing.com reports. The firm had revenue of $217.49 million for the quarter, compared to the consensus estimate of $219.30 million. Moelis & Company had a negative return on equity of 3.82% and a negative net margin of 2.89%. The firm’s quarterly revenue was up 17.4% compared to the same quarter last year. During the same quarter last year, the business posted $0.05 EPS.

Moelis & Company Stock Performance

MC stock traded down $4.14 during midday trading on Thursday, hitting $49.85. 1,017,786 shares of the stock were exchanged, compared to its average volume of 633,997. The stock’s 50-day moving average price is $54.31 and its 200-day moving average price is $51.51. The stock has a market cap of $3.55 billion, a price-to-earnings ratio of -138.08 and a beta of 1.35. Moelis & Company has a fifty-two week low of $33.87 and a fifty-two week high of $58.67.

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 was Friday, February 16th. This represents a $2.40 annualized dividend and a yield of 4.81%. Moelis & Company’s dividend payout ratio is presently -666.67%.

Wall Street Analyst Weigh In

MC has been the topic of a number of research reports. JMP Securities restated a “market perform” rating on shares of Moelis & Company in a research note on Tuesday, April 9th. JPMorgan Chase & Co. lifted their target price on Moelis & Company from $46.00 to $57.00 and gave the company a “neutral” rating in a research note on Thursday, February 8th. Keefe, Bruyette & Woods restated a “market perform” rating and issued a $54.00 price target (down from $58.00) on shares of Moelis & Company in a research note on Thursday. UBS Group lifted their price target on Moelis & Company from $45.00 to $47.00 and gave the company a “sell” rating in a research note on Thursday. Finally, StockNews.com upgraded Moelis & Company from a “sell” rating to a “hold” rating in a research note on Thursday, February 8th. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $50.80.

Insider Buying and Selling

In other news, CEO Kenneth Moelis sold 128,277 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 161,810 shares of the company’s stock, valued at $8,511,206. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Kenneth Moelis sold 128,277 shares of the business’s stock in a transaction 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 completion of the transaction, the chief executive officer now directly owns 161,810 shares of the company’s stock, valued at $8,511,206. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Christopher Callesano sold 1,040 shares of the business’s stock in a transaction on Thursday, February 8th. The stock was sold at an average price of $53.59, for a total value of $55,733.60. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 375,185 shares of company stock valued at $20,130,225. 6.96% of the stock is owned by insiders.

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.