Moelis & Company (MC) to Release Earnings on Wednesday

Moelis & Company (NYSE:MC) will be announcing its earnings results after the market closes on Wednesday, October 23rd. Analysts expect the company to announce earnings of $0.23 per share for the quarter. Investors interested in registering for the company’s conference call can do so using this link.

Moelis & Company (NYSE:MC) last posted its quarterly earnings results on Wednesday, July 24th. The asset manager reported $0.18 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.11 by $0.07. The company had revenue of $264.59 million for the quarter, compared to analysts’ expectations of $227.90 million. Moelis & Company had a return on equity of 4.38% and a net margin of 1.38%. The firm’s revenue was up 47.1% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.04) earnings per share. On average, analysts expect Moelis & Company to post $1 EPS for the current fiscal year and $3 EPS for the next fiscal year.

Moelis & Company Trading Down 1.0 %

NYSE MC opened at $70.64 on Tuesday. The stock’s 50-day moving average price is $67.18 and its two-hundred day moving average price is $60.43. Moelis & Company has a 1 year low of $38.58 and a 1 year high of $72.80. The company has a market cap of $5.28 billion, a PE ratio of -371.79 and a beta of 1.33.

Moelis & Company Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, September 26th. Shareholders of record on Monday, August 5th were given a dividend of $0.60 per share. The ex-dividend date of this dividend was Monday, August 5th. This represents a $2.40 dividend on an annualized basis and a yield of 3.40%. Moelis & Company’s payout ratio is presently -1,263.16%.

Insider Activity

In other news, CEO Kenneth Moelis sold 5,308 shares of Moelis & Company stock in a transaction dated Tuesday, July 30th. The shares were sold at an average price of $68.87, for a total transaction of $365,561.96. Following the sale, the chief executive officer now directly owns 86 shares in the company, valued at approximately $5,922.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Kenneth Moelis sold 5,308 shares of the business’s stock in a transaction on Tuesday, July 30th. The stock was sold at an average price of $68.87, for a total value of $365,561.96. Following the sale, the chief executive officer now owns 86 shares of the company’s stock, valued at $5,922.82. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Kenneth Shropshire sold 495 shares of the stock in a transaction dated Wednesday, July 31st. The stock was sold at an average price of $69.29, for a total transaction of $34,298.55. Following the sale, the director now owns 9,372 shares of the company’s stock, valued at $649,385.88. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,526 shares of company stock worth $830,133. 6.40% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

MC has been the topic of a number of research reports. UBS Group increased their price objective on Moelis & Company from $54.00 to $60.00 and gave the stock a “sell” rating in a report on Tuesday, October 8th. Keefe, Bruyette & Woods reiterated a “market perform” rating and set a $60.00 price target (up previously from $54.00) on shares of Moelis & Company in a research note on Thursday, July 25th. JPMorgan Chase & Co. increased their price target on Moelis & Company from $50.00 to $51.00 and gave the company a “neutral” rating in a report on Thursday, July 25th. Wells Fargo & Company assumed coverage on shares of Moelis & Company in a research report on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 price target on the stock. Finally, Morgan Stanley boosted their price objective on Moelis & Company from $61.00 to $67.00 and gave the stock an “underweight” rating in a research report on Monday, September 23rd. Two analysts have rated the stock with a sell rating and six have assigned a hold rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $61.00.

Moelis & Company Company Profile

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.