Q3 2024 EPS Estimates for Moelis & Company (NYSE:MC) Reduced by Analyst

Moelis & Company (NYSE:MCFree Report) – Stock analysts at Seaport Res Ptn cut their Q3 2024 earnings per share estimates for Moelis & Company in a report released on Wednesday, July 10th. Seaport Res Ptn analyst J. Mitchell now forecasts that the asset manager will earn $0.15 per share for the quarter, down from their previous estimate of $0.25. The consensus estimate for Moelis & Company’s current full-year earnings is $1.29 per share. Seaport Res Ptn also issued estimates for Moelis & Company’s Q4 2024 earnings at $0.42 EPS, FY2024 earnings at $0.90 EPS, Q1 2025 earnings at $0.45 EPS, Q2 2025 earnings at $0.42 EPS, Q3 2025 earnings at $0.62 EPS and FY2025 earnings at $2.40 EPS.

Moelis & Company (NYSE:MCGet Free Report) last issued its quarterly earnings data on Wednesday, April 24th. The asset manager reported $0.22 EPS for the quarter, topping analysts’ consensus estimates of $0.11 by $0.11. The firm had revenue of $217.49 million during the quarter, compared to the consensus estimate of $219.30 million. Moelis & Company had a negative return on equity of 0.12% and a negative net margin of 1.33%. The firm’s revenue was up 17.4% on a year-over-year basis. During the same period in the prior year, the business earned $0.05 EPS.

Several other research firms have also recently commented on MC. UBS Group upped their target price on shares of Moelis & Company from $47.00 to $50.00 and gave the stock a “sell” rating in a research report on Tuesday. Keefe, Bruyette & Woods reissued a “market perform” rating and issued a $54.00 price objective (down from $58.00) on shares of Moelis & Company in a report on Thursday, April 25th. JMP Securities reaffirmed a “market perform” rating on shares of Moelis & Company in a research note on Tuesday, April 9th. Finally, The Goldman Sachs Group raised Moelis & Company from a “sell” rating to a “neutral” rating and increased their price target for the stock from $53.00 to $58.00 in a research note on Wednesday, March 13th. Two investment analysts have rated the stock with a sell rating and five have given a hold rating to the stock. According to MarketBeat.com, Moelis & Company has an average rating of “Hold” and an average price target of $51.40.

Check Out Our Latest Stock Analysis on MC

Moelis & Company Stock Up 1.2 %

MC stock opened at $58.85 on Thursday. Moelis & Company has a fifty-two week low of $38.58 and a fifty-two week high of $59.05. The firm’s 50-day simple moving average is $55.12 and its 200 day simple moving average is $54.65. The stock has a market cap of $4.40 billion, a PE ratio of -309.74 and a beta of 1.35.

Moelis & Company Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, June 20th. Stockholders of record on Monday, May 6th were paid a $0.60 dividend. This represents a $2.40 dividend on an annualized basis and a dividend yield of 4.08%. The ex-dividend date was Friday, May 3rd. Moelis & Company’s dividend payout ratio is presently -1,263.16%.

Insider Activity at Moelis & Company

In other news, CEO Kenneth Moelis sold 40,000 shares of Moelis & Company stock in a transaction that occurred on Thursday, May 9th. The shares were sold at an average price of $53.98, for a total value of $2,159,200.00. Following the transaction, the chief executive officer now owns 42,441 shares of the company’s stock, valued at approximately $2,290,965.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Kenneth Moelis sold 40,000 shares of the stock in a transaction on Thursday, May 9th. The stock was sold at an average price of $53.98, for a total transaction of $2,159,200.00. Following the completion of the sale, the chief executive officer now owns 42,441 shares in the company, valued at approximately $2,290,965.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Navid Mahmoodzadegan sold 44,980 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $54.92, for a total value of $2,470,301.60. The disclosure for this sale can be found here. Company insiders own 6.40% of the company’s stock.

Institutional Trading of Moelis & Company

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. increased its position in shares of Moelis & Company by 0.4% in the third quarter. Vanguard Group Inc. now owns 7,787,483 shares of the asset manager’s stock worth $351,449,000 after acquiring an additional 28,446 shares in the last quarter. Wasatch Advisors LP lifted its holdings in shares of Moelis & Company by 4.9% in the first quarter. Wasatch Advisors LP now owns 3,417,643 shares of the asset manager’s stock valued at $194,020,000 after purchasing an additional 159,797 shares in the last quarter. Goldman Sachs Group Inc. boosted its position in shares of Moelis & Company by 11.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 3,374,385 shares of the asset manager’s stock worth $189,404,000 after buying an additional 334,620 shares during the period. Madison Asset Management LLC grew its holdings in shares of Moelis & Company by 4.5% during the fourth quarter. Madison Asset Management LLC now owns 1,399,649 shares of the asset manager’s stock valued at $78,562,000 after buying an additional 60,455 shares in the last quarter. Finally, Lord Abbett & CO. LLC grew its holdings in shares of Moelis & Company by 5.2% during the first quarter. Lord Abbett & CO. LLC now owns 1,118,245 shares of the asset manager’s stock valued at $63,483,000 after buying an additional 55,402 shares in the last quarter. Institutional investors and hedge funds own 91.53% of the company’s stock.

Moelis & Company Company Profile

(Get Free Report)

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.

See Also

Earnings History and Estimates for Moelis & Company (NYSE:MC)

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