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

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

MC stock traded up $2.61 during midday trading on Thursday, reaching $59.30. The stock had a trading volume of 13,078 shares, compared to its average volume of 454,098. The business’s fifty day moving average price is $54.37. The company has a market capitalization of $3.79 billion, a price-to-earnings ratio of 17.69 and a beta of 1.21. Moelis & Company has a twelve month low of $28.77 and a twelve month high of $59.63.

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

In related news, CEO Kenneth Moelis sold 1,401 shares of Moelis & Company stock in a transaction dated Monday, April 26th. The stock was sold at an average price of $57.03, for a total value of $79,899.03. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Over the last quarter, insiders sold 30,051 shares of company stock valued at $1,715,368. Corporate insiders own 17.99% of the company’s stock.

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

About Moelis & Company

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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