Equities Analysts Offer Predictions for MC FY2024 Earnings

Moelis & Company (NYSE:MC) – Equities researchers at Zacks Research reduced their FY2024 earnings estimates for shares of Moelis & Company in a research note issued on Tuesday, November 12th. Zacks Research analyst R. Department now expects that the asset manager will post earnings of $0.92 per share for the year, down from their previous estimate of $0.96. The consensus estimate for Moelis & Company’s current full-year earnings is $0.97 per share. Zacks Research also issued estimates for Moelis & Company’s Q4 2024 earnings at $0.30 EPS, Q1 2025 earnings at $0.41 EPS, FY2025 earnings at $2.35 EPS, Q1 2026 earnings at $0.74 EPS, Q2 2026 earnings at $0.76 EPS, Q3 2026 earnings at $0.81 EPS and FY2026 earnings at $3.11 EPS.

Moelis & Company (NYSE:MC) last issued its earnings results on Wednesday, October 23rd. The asset manager reported $0.22 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.20 by $0.02. Moelis & Company had a net margin of 4.22% and a return on equity of 12.15%. The firm had revenue of $273.76 million during the quarter, compared to analysts’ expectations of $273.58 million. During the same quarter last year, the company posted ($0.15) earnings per share. The firm’s revenue was up .6% compared to the same quarter last year.

Several other research analysts have also recently weighed in on MC. Morgan Stanley reduced their price target on Moelis & Company from $67.00 to $66.00 and set an “underweight” rating for the company in a research report on Thursday, October 24th. Keefe, Bruyette & Woods reiterated a “market perform” rating and issued a $60.00 target price (up from $54.00) on shares of Moelis & Company in a research note on Thursday, July 25th. UBS Group increased their price target on shares of Moelis & Company from $54.00 to $60.00 and gave the stock a “sell” rating in a report on Tuesday, October 8th. Wells Fargo & Company started coverage on shares of Moelis & Company in a report on Thursday, September 12th. They issued an “equal weight” rating and a $70.00 price objective for the company. Finally, JPMorgan Chase & Co. increased their target price on shares of Moelis & Company from $50.00 to $51.00 and gave the stock a “neutral” rating in a research note on Thursday, July 25th. Two analysts have rated the stock with a sell rating and six have issued a hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $60.83.

Moelis & Company Stock Performance

NYSE MC opened at $75.30 on Thursday. The firm has a market capitalization of $5.64 billion, a P/E ratio of 142.08 and a beta of 1.33. The stock has a 50-day simple moving average of $69.04 and a two-hundred day simple moving average of $62.50. Moelis & Company has a fifty-two week low of $42.58 and a fifty-two week high of $81.60.

Moelis & Company Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Monday, December 2nd. Stockholders of record on Monday, November 4th will be given a $0.60 dividend. The ex-dividend date of this dividend is Monday, November 4th. This represents a $2.40 annualized dividend and a dividend yield of 3.19%. Moelis & Company’s dividend payout ratio (DPR) is 452.83%.

Hedge Funds Weigh In On Moelis & Company

Hedge funds have recently made changes to their positions in the company. UniSuper Management Pty Ltd purchased a new position in Moelis & Company in the 1st quarter valued at $801,000. Lord Abbett & CO. LLC raised its holdings in Moelis & Company by 5.2% in the 1st quarter. Lord Abbett & CO. LLC now owns 1,118,245 shares of the asset manager’s stock valued at $63,483,000 after acquiring an additional 55,402 shares during the last quarter. Wealth Enhancement Advisory Services LLC lifted its stake in Moelis & Company by 51.8% in the 2nd quarter. Wealth Enhancement Advisory Services LLC now owns 135,399 shares of the asset manager’s stock worth $7,699,000 after purchasing an additional 46,226 shares in the last quarter. Sei Investments Co. boosted its holdings in shares of Moelis & Company by 18.2% during the 2nd quarter. Sei Investments Co. now owns 305,871 shares of the asset manager’s stock worth $17,392,000 after purchasing an additional 47,176 shares during the last quarter. Finally, XTX Topco Ltd lifted its position in Moelis & Company by 274.4% during the second quarter. XTX Topco Ltd now owns 16,524 shares of the asset manager’s stock worth $940,000 after buying an additional 12,110 shares in the last quarter. Institutional investors and hedge funds own 91.53% of the company’s stock.

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.