Perella Weinberg Partners (NASDAQ:PWP) Announces Quarterly Dividend of $0.07

Perella Weinberg Partners (NASDAQ:PWP) declared a quarterly dividend on Monday, May 5th, Wall Street Journal reports. Stockholders of record on Wednesday, May 14th will be given a dividend of 0.07 per share on Friday, May 30th. This represents a $0.28 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date is Wednesday, May 14th.

Perella Weinberg Partners has increased its dividend payment by an average of 26.0% annually over the last three years. Perella Weinberg Partners has a payout ratio of 17.7% meaning its dividend is sufficiently covered by earnings.

Perella Weinberg Partners Price Performance

Shares of PWP opened at $16.94 on Tuesday. The firm has a market capitalization of $1.47 billion, a price-to-earnings ratio of -10.72 and a beta of 1.69. Perella Weinberg Partners has a 1-year low of $13.82 and a 1-year high of $27.03. The company has a 50-day moving average of $18.19 and a 200 day moving average of $22.04.

Perella Weinberg Partners (NASDAQ:PWP) last posted its quarterly earnings results on Friday, May 2nd. The company reported $0.28 earnings per share for the quarter, beating the consensus estimate of $0.21 by $0.07. The firm had revenue of $211.83 million during the quarter, compared to the consensus estimate of $200.29 million. Perella Weinberg Partners had a negative net margin of 7.37% and a negative return on equity of 72.27%. During the same quarter in the previous year, the firm posted ($0.10) earnings per share.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on PWP shares. JMP Securities dropped their price target on Perella Weinberg Partners from $33.00 to $29.00 and set a “market outperform” rating on the stock in a research report on Tuesday, April 8th. Keefe, Bruyette & Woods upped their price objective on Perella Weinberg Partners from $27.00 to $29.00 and gave the stock an “outperform” rating in a research note on Monday, February 10th. Finally, The Goldman Sachs Group lowered their price target on shares of Perella Weinberg Partners from $20.00 to $18.00 and set a “sell” rating on the stock in a report on Wednesday, April 2nd.

Perella Weinberg Partners Company Profile

Perella Weinberg Partners, an independent investment banking company, provides strategic and financial advice services in the United States and internationally. The company offers advisory services related to strategic and financial decisions, mergers and acquisition execution, shareholder and defense advisory, and financing and capital solutions advice with resources focused on restructuring, liability management, and capital markets advisory, as well as underwriting and research services primarily for the energy and related industries.