Moelis & Company (NYSE:MC) Expected to Post Quarterly Sales of $245.95 Million

Brokerages forecast that Moelis & Company (NYSE:MC) will announce sales of $245.95 million for the current quarter, Zacks Investment Research reports. Three analysts have provided estimates for Moelis & Company’s earnings, with estimates ranging from $237.19 million to $250.67 million. Moelis & Company reported sales of $159.94 million in the same quarter last year, which indicates a positive year-over-year growth rate of 53.8%. The firm is scheduled to announce its next quarterly earnings report on Wednesday, August 4th.

According to Zacks, analysts expect that Moelis & Company will report full year sales of $1.09 billion for the current financial year, with estimates ranging from $1.00 billion to $1.12 billion. For the next fiscal year, analysts forecast that the company will post sales of $1.11 billion, with estimates ranging from $976.75 million to $1.18 billion. Zacks’ sales averages are a mean average based on a survey of research analysts that cover Moelis & Company.

Moelis & Company (NYSE:MC) last issued its quarterly earnings results on Wednesday, April 28th. The asset manager reported $1.02 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $0.87 by $0.15. Moelis & Company had a return on equity of 56.19% and a net margin of 20.91%. The firm had revenue of $263.87 million for the quarter, compared to analyst estimates of $241.32 million. During the same period in the previous year, the firm earned $0.45 earnings per share. The company’s revenue was up 71.7% compared to the same quarter last year.

Several research firms have weighed in on MC. Zacks Investment Research cut Moelis & Company from a “buy” rating to a “hold” rating and set a $58.00 price target on the stock. in a report on Wednesday. Morgan Stanley lifted their price objective on Moelis & Company from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Wednesday, April 7th. JMP Securities restated a “market perform” rating on shares of Moelis & Company in a research note on Thursday, April 15th. Finally, Piper Sandler lifted their price objective on Moelis & Company from $58.00 to $68.00 in a report on Tuesday, March 16th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and one has given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $46.33.

In other news, COO Elizabeth Crain sold 6,692 shares of the stock in a transaction on Monday, March 15th. The stock was sold at an average price of $55.50, for a total transaction of $371,406.00. Following the completion of the sale, the chief operating officer now owns 13,383 shares in the company, valued at approximately $742,756.50. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CEO Kenneth Moelis sold 800 shares of the firm’s stock in a transaction on Wednesday, April 7th. The stock was sold at an average price of $57.12, for a total value of $45,696.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 443,265 shares of company stock valued at $24,994,325. 8.46% of the stock is currently owned by company insiders.

Hedge funds have recently added to or reduced their stakes in the company. BlackRock Inc. raised its holdings in shares of Moelis & Company by 3.1% in the first quarter. BlackRock Inc. now owns 4,796,648 shares of the asset manager’s stock valued at $263,241,000 after buying an additional 143,216 shares during the last quarter. Timucuan Asset Management Inc. FL increased its stake in Moelis & Company by 1.6% during the 1st quarter. Timucuan Asset Management Inc. FL now owns 2,019,588 shares of the asset manager’s stock worth $110,835,000 after buying an additional 31,899 shares during the period. Artisan Partners Limited Partnership grew its holdings in Moelis & Company by 0.8% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,984,998 shares of the asset manager’s stock worth $92,819,000 after acquiring an additional 16,008 shares in the last quarter. Federated Hermes Inc. boosted its holdings in shares of Moelis & Company by 22.2% in the 1st quarter. Federated Hermes Inc. now owns 1,667,483 shares of the asset manager’s stock valued at $91,511,000 after buying an additional 302,483 shares during the period. Finally, Vaughan Nelson Investment Management L.P. lifted its position in Moelis & Company by 123.2% in the 1st quarter. Vaughan Nelson Investment Management L.P. now owns 1,358,227 shares of the asset manager’s stock valued at $74,539,000 after purchasing an additional 749,830 shares during the last quarter. 89.04% of the stock is currently owned by hedge funds and other institutional investors.

NYSE:MC traded up $0.56 during trading on Tuesday, reaching $54.54. The company’s stock had a trading volume of 1,736 shares, compared to its average volume of 435,625. The company has a market capitalization of $3.49 billion, a price-to-earnings ratio of 15.83 and a beta of 1.23. Moelis & Company has a 12 month low of $28.28 and a 12 month high of $59.63. The company has a 50 day simple moving average of $54.13.

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 18th. Shareholders of record on Monday, May 10th were issued a $0.55 dividend. The ex-dividend date was Friday, May 7th. This represents a $2.20 annualized dividend and a dividend yield of 4.03%. Moelis & Company’s payout ratio is currently 75.60%.

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 and Estimates for Moelis & Company (NYSE:MC)

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